AFD - 2018 Registration document

6 CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS ACCOUNTING PRINCIPLES ADOPTED BY THE EUROPEAN UNION Notes to the consolidated financial statements

NOTE 3 Financial assets at fair value through equity

31/12/2018

01/01/2018

Change in fair value over the period

Change in fair value over the period

Book value

Book value

In thousands of euros

Debt securities recognised at fair value through equity to be recycled in profit or loss

1,067,532

-20,813 -21,329

1,126,073 1,079,492

-

Government paper and equivalent

891,791 175,742

- -

Bonds and other securities

517

46,581

Equity securities recorded at fair value through equity not to be recycled in profit or loss

397,163 397,163

-21,137 -21,137 -41,950

379,005 379,005

-

Unconsolidated equity stakes

-

TOTAL

1,464,695

1,505,078

-

*

Not applicable at 1 January 2018.

31/12/2017*

In thousands of euros

Financial assets available for sale Government paper and equivalent Bonds and other fixed-income securities Equity stakes and other long-term securities

1,144,730

75,045

1,796,228

of which UCITS

549,479

TOTAL AVAILABLE-FOR-SALE FINANCIAL ASSETS

3,016,003

* Available-for-sale financial assets were reclassified in the amount of €1,446M to financial assets measured at fair value through equity, of €1,505M to financial assets measured at fair value through profit and loss, and of €65M to debt securities at amortised cost.

NOTE 4 Financial assets and liabilities at fair value according to the fair value level

31/12/2017

31/12/2018

Level 1 Level 2 Level 3

Total

Level 1 Level 2 Level 3

Total

In thousands of euros

Assets/Liabilities Equity instruments at fair value through profit or loss Debt securities that do not meet the SPPI criteria

1,047

-

921,931 922,978

50,200

- 1,239,386 1,289,586

Financial assets recorded through equity 1,067,532

-

397,163 1,464,695

Hedging derivatives (Assets)

- 1,824,239

- 1,824,239

1,679,788

1,679,788

Financial liabilities at fair value through profit and loss

- - -

338,316 940,339

842 339,159

265,334

872 266,205

Hedging derivatives (Liabilities)

-

940,339

1,057,272

1,057,272

Derivatives

192,623 8,200 200,823

Financial assets at fair value through profit and loss Financial assets available for sale

- -

- -

- -

-

172,946 7,149 180,095

- 1,802,537

- 1,213,466 3,016,003

P Sensitivity of the fair value of level 3 instruments

The category of instruments measured at level 3 fair value mainly comprises equity investments.

The sensitivity calculations do not apply because their valuations are not linked to market parameters.

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REGISTRATION DOCUMENT 2018