TELEPERFORMANCE_Registration_document_2017
CONSOLIDATED FINANCIAL STATEMENTS
7
7.6 Notes to the consolidated financial statements
Note G.4.2
Net financial indebtedness: Schedule of debt maturities
12/31/2017
b
Current Non-current *
12/31/2016
Current Non-current
Bank loans
418 105 480 600 -10
106 105
312
1,314
171
1,143
Commercial paper
b
30
30
b
USPP Bond
b b
480 600
545
b b
545
0
b
Loan issuance expense/premiums & discounts
-4
-6
-8
-7
-1
Cross Currency Interest Swap on loan
5 2 0
5 2 0
b b
17
17
b
Bank overdrafts and advances Due to minority shareholders
3
3
0
0 1
39
39
b
Other borrowing and financial liabilities
11
10
9
8
1
Total financial liabilities
1,611
224
1,387
1,949
261
1,688
Marketable securities
32
32
b b b
7
7
b b b
Cash and bank
253 285 -61
275 282
275 282 -21
253 285
Total cash and cash equivalents
1,667
1,688
NET DEBT
1,326
1,387
* Due after 5byears: €946bmillion.
The Group relies only to a minor extent on finance lease financing and, in consequence, the amount of its finance lease liabilities is not significant (€1.3bmillion and €1.8bmillion at Decemberb31 st , 2017band 2016, respectively).
The Group has also made a payment of €38.5bmillion during the first half of 2017brelating to the balance of deferred consideration due on the acquisition of minority interests.
Note G.4.3 Interest rate risk The Group has an exposure to interest rate risks on its financial liabilities and its short-term liquid investments. The following schedule identifies the amounts subject to interest rate risk:
Subject to interest rate risk 12/31/2016
Subject to interest rate risk
12/31/2017
Net debt
Fixed rate
Fixed rate
Total financial liabilities Cash and cash equivalents
1,611
1,179
432 -285 147
1,949
619
1,330
-285
b
-282
b
-282
NET DEBT
1,326
1,179
1,667
619
1,048
A change of 100bbasis points in the interest rate would have had an impact of €3.3bmillion in 2017band of €9.2bmillion in 2016.
NOTE G.5 Foreign exchange hedging operations Revenues and operating expenses of Group companies may be denominated in a currency other than their functional currency. In order to reduce exposure to exchange rate risk, hedge contracts have been entered into, principally between the following currencies:
The policy of the Group is cover its highly probable forecast transactions denominated in foreign currency, usually up to 12bmonths ahead. The Group uses forward exchange contracts and plain vanilla foreign exchange options. In addition, currency hedges are in place to cover the exchange risk between currencies managed within the cash pool and the euro (in particular the US dollar) as well as certain loans between Teleperformance SE and its subsidiaries.
■ the US dollar and the Mexican peso; ■ the US dollar and the Colombian peso; ■ the Philippine peso and the US dollar;
■ the Colombian peso, the Turkish lira, the Tunisian dinar and the euro.
194
Teleperformance bb - bb Registration documentbb 2017
Made with FlippingBook flipbook maker