PERNOD RICARD - 2018-2019 Universal registration document

6.

CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

The notional amount of these contracts is the nominal value of the valuation methods appropriate to the type of financial instrument contracts. Foreign currency denominated notional amounts in concerned. These valuation methods yield results consistent with the cross-currency swaps are shown in euros at the exchange rate agreed. valuations provided by bank counterparties.

For other instruments, notional amounts denominated in foreign currencies are translated into euros at year-end rates. Estimated market values are based on information available on the financial markets and

The Group’s hedging instruments at 30 June 2019 are not ineffective.

Hedged items (by category and nature of hedge)

Cumulative FVH adjustments included in the carrying amount of the hedged item

Carrying amount of the hedged item

Balance sheet item in which the hedged item is included CFH reserves

Liabilities and shareholders’ equity

Liabilities and shareholders’ equity

Change in fair value of OCI derivatives

Nature of hedge at 30.06.2019 € million FAIRVALUEHEDGE (FVH) Interest rate risk Fixed-rate bonds hedged

Assets

Assets

- -

1,069

13

2

Bonds Bonds

N/A N/A

N/A N/A

End of hedging

-

4

11

Currency risk

Firm commitment

-

-

-

-

-

N/A

N/A

CASHFLOWHEDGE (CFH) Interest rate risk Floating rates of bonds

N/A N/A

N/A N/A

N/A N/A

N/A N/A

N/A N/A

(3)

(2) 10

End of hedging

(16)

Currency risk Future foreign currency sales hedges

N/A N/A

N/A N/A

N/A N/A

N/A N/A

N/A N/A

(1)

2 -

End of hedging

-

Commodity risk Commodity risk hedges

N/A

N/A

N/A

N/A

N/A

0

0

NET INVESTMENTHEDGE (NIH) Net assets hedged

- -

- -

N/A N/A

N/A N/A

N/A N/A

N/A N/A

N/A N/A

End of hedging

N/A: Not applicable.

Other current liabilities Note 4.11 Other current liabilities are broken down as follows:

30.06.2019

30.06.2018

€ million

Taxes and social charges Other current liabilities

613 347

636 421

TOTAL 1,058 Other current liabilities at 30 June 2019 mainly comprise the €311 million interim dividend payment on 10 July 2019. Most of these other current liabilities are due within one year. 960

195

2018-2019

PERNOD RICARD UNIVERSAL REGISTRATIONDOCUMENT