TELEPERFORMANCE_Registration_document_2017
CONSOLIDATED FINANCIAL STATEMENTS
7.6 Notes to the consolidated financial statements
Accounting category
Fair value
Financial instruments at fair value through profit or loss
Financial liabilities at amortized cost
Derivative financial instruments
Loans and receivables
Total
Total
12/31/2016
Lev 1 Lev 2 Lev 3
FINANCIAL INSTRUMENTS: ASSETS I - Financial assets at fair value Exchange rate hedging instruments
7
3 3
0
0 10
7
3 3
0 10
3 7
3 7
b
b b
b b
b
b b
Marketable securities
7 0
b
7
b
II - Financial assets at amortized cost
0
1,322
0 1,322 275 1,047
0 1,322
12 53 11
12 53 11
Loans
b b b b b b
b b b b b b
12 53 11
b b b b b b
b b b b b
12 53 11
b b b b b b
Guarantee deposits Indemnificationbasset
871 100 275
871 100 275
Accounts receivable - Trade
871 100 275
871 100
Other assets Cash and bank
275
b
FINANCIAL INSTRUMENTS: LIABILITIES I - Financial liabilities at fair value
0
41 17 24
0
0 41
0 41
0 41
17 24
17 24
Loan hedging instruments
b b
b b
b b
b b
17 24
b b
Exchange rate hedging instruments
II - Financial liabilities at amortized cost
0
0
3
2,442 2,445 1,314 1,314
3 2,442
0 2,445 b 1,314
Bank loans
b b b b b b b
b b b b b b b
b b b b
b b b b
1,314
30
30
Commercial paper
30
30
b b b b b b
545
545
USPP loans
545
545
9 3
9 3
Other financial liabilities
9
9
Bank overdrafts and advances Accounts payable - Trade
3
b
3
b
126 418
126 418
b b
126 418
b b
126 418
Other liabilities
There were no transfers between the different levels of fair value for assets and liabilities measured using this method.
NOTE G.7 Financial risk management
The Group has an exposure to the following risks:
The Internal Audit Department performs both periodic and ad hoc reviews of risk management controls and procedures, reporting to the Audit and Compliance Committee. All strategic decisions relating to the hedging policy for financial risks are the responsibility of the Group’s Finance Department. G.7.1 Credit risk Credit risk is the Group’s risk of financial loss in the event that a customer or counterparty to a financial instrument fails to meet his contractual obligations. This risk primarily concerns customer The Group’s exposure to credit risk is mainly influenced by the individual characteristics of its customers. Sales to the principal customer of the Group account for 6.9% of Group global revenues. In addition, sales to telecommunications sector customers and Internet access providers represent a total of 16.7% of Group revenues for Core services segment. No country accounts for over 10% of customer receivables with the exception of the United States which represented approximately 38% of total customer receivables as of December 31 st , 2017. receivables and short-term investments. Customer and other receivables
credit risk; liquidity risk; market risk;
■
■
■
■ equity risk. Set out below is information on the Group’s exposure to each of the above risks, its objectives, policy and procedures for measuring and managing risk, as well as its share capital and equity management. Quantitative disclosures appear elsewhere in the consolidated financial statements. The Board of Directors defines and oversees the Group’s risk management framework. Monitoring, measuring and overseeing financial risk is the responsibility of the Group’s Finance Department, for the Group and each of the Group companies. The objective of the Group’s risk management policy is to identify and analyze the risks that the Group faces, to set appropriate risk limits and controls, and to manage the risks and ensure that the limits defined are respected. The policy and the risk management systems are reviewed regularly so as to respond to changes in the market and in the Group’s activities. Through its training and management rules and procedures, the Group aims to develop a rigorous and constructive control environment in which every employee has a clear understanding of his or her role and duties.
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Teleperformance bb - bb Registration documentbb 2017
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