ADP // 2021 Universal Registration Document

F I NANC I AL I NFORMAT I ON 6 GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

Fair value of financial instruments Measuring method of fair value

◆ if the derivative instrument is designated as a fair value hedge, changes in the value of the instrument and of the hedged item are recognized in the income statement in the same period; ◆ a hedge of a net investment in a foreign entity receives the same accounting treatment as a cash flow hedge. Changes in the fair value of the hedging instrument are recognized in equity, for the effective part of the hedging relationship, whereas changes in connection with the ineffective part of the hedge are recognized in net finance costs. When the investment in the foreign entity is sold, all changes in the fair value of the hedging instrument previously recognized through equity are transferred to the income statement. Hedge accounting is applicable if the hedging relationship is clearly defined and documented when it is set up and if the effectiveness of the hedging relationship is demonstrated prospectively and retrospectively at the initial date and at each subsequent closing period, to ensure that an economic relationship exists between the hedged item and hedging instrument. Derivatives are entered on the assets side of the balance sheet under “Other current financial assets” or on the liabilities side under “Current debt”. Such derivatives can be cancelled at any time by paying or receiving a cash amount corresponding to their fair value.

The best criterion for measuring the fair value of a contract is the price agreed upon between a buyer and seller operating on a free market under market conditions. At the date of the agreement, this is generally the transaction price. Subsequently, the value of the contract must be based on observable market data which constitute the most reliable indication of fair value for financial instruments: ◆ discounted future cash flows for bonds and bank loans; ◆ quoted prices on an organized market for non-consolidated listed investments; ◆ market value for interest rate and foreign exchange instruments, valued using discounting of differential future cash flows or on the basis of quoted prices issued by third party financial institutions. The fair value for forward contracts to sell foreign currencies corresponds to the difference between the currency amounts converted at the contractually fixed rates for each maturity and the currency amounts converted at the forward rate for the same maturities. The fair value of a financial instrument reflects the effect of non performance risk: the counterparty credit risk (Credit Valuation Adjustment – CVA) and the own credit risk of the Group (Debit Valuation Adjustment – DVA). For derivatives, the Group has elected to determine the CVA using a mixed model including market data (use of counterparty’s spreads CDS) and historical statistic data. Concerning the supplier debts, which are measured at their fair value on initial recognition, subsequently at the amortised cost.

9.5.1 Categories of financial assets and liabilities

Breakdown by category of financial instrument Fair value

Hedging derivatives

Cash flow hedge

Fair value hedge

Equity instr. - FV through P&L

Fair value option 1

As at 31 Dec. 2021

Amortised cost

Trading 2

(in millions of euros)

Other non-current financial assets

972

- - - - - - - - - - -

- - - - - - - - - - - - -

NG

NG

- - - - - - - - - - - - -

- - - - - - - - - - -

Contract assets Trade receivables Other receivables 3

9

- - - - - - - - - - - -

9

827

827

171

171

Other current financial assets Cash and cash equivalents TOTAL FINANCIAL ASSETS

193

193

2,379 4,551 9,144

2,379 2,379

-

1,200 9,106

Non-current debt Contract liabilities

38

5

5

Trade payables

785

785

1,571 1,169

1,571 1,169

Other debts and other non-current liabilities 3

Current debt

TOTAL FINANCIAL LIABILITIES

12,674

12,636

38

1 Identified as such at the outset. 2 Classified as held for trading purposes. 3 Other receivables and other debts exclude all accounts which do not constitute, within the terms of IAS 32, contractual rights and obligations, such as tax and social security debts or receivables. NG: Information not given, expert valuation in progress

340

AÉROPORTS DE PAR I S / UN I VERSAL REG I STRAT I ON DOCUMENT 202 1