EURAZEO_REGISTRATION_DOCUMENT_2017

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CONSOLIDATED FINANCIAL STATEMENTS Notes to the Consolidated Financial Statements

Interest-rate derivatives 9.2.1 The interest rate swaps used by the Group help to convert part of the contracted floating-rate debt into fixed-rate debt. Interest rate derivatives are measured on the basis of market data at the balance sheet date − Level 2 − (interest – rate curve from which the zero coupon curve is derived). Fair value is calculated using a discounted cash flow model.

Other derivative instruments (current) 9.2.2 Other derivatives primarily consist of currency derivatives and derivatives associated with the Legendre Holding 19 financing (repaid on January 9, 2017).

Short-term/long-term classification of derivatives 9.2.3

12/31/2017

12/31/2016

(In thousands of euros)

Non-current asset derivatives o/w interest rate derivatives

2,511 2,511

58 58

o/w other derivatives

-

-

Current asset derivatives

3,359 2,459

5,567 1,947 3,620

o/w interest rate derivatives

o/w other derivatives

900

Non-current liability derivatives

(9,961) (9,961)

(12,941) (12,941)

o/w interest rate derivatives

o/w other derivatives

-

-

Current liability derivatives o/w interest rate derivatives

(1,509)

(23,115) (20,782)

(402) (1,107)

o/w other derivatives

(233)

TOTAL DERIVATIVE INSTRUMENTS

(5,600)

(30,431)

234

2017 Registration document

Eurazeo