ADP_REGISTRATION_DOCUMENT_2017

FINANCIAL INFORMATION ON ASSETS, FINANCIAL POSITION AND RESULTS

RESEARCH AND DEVELOPMENT, PATENTS AND LICENCES

INFORMATION CONCERNING TRENDS

PROFIT FORECASTS

ADMINISTRATION AND EXECUTIVE MANAGEMENT BODIES

COMPENSATION AND BENEFITS OF CORPORATE OFFICERS

FUNCTIONING OF THE BOARD OF DIRECTORS AND MANAGEMENT BODIES

SOCIAL, ENVIRONMENTAL AND SOCIETAL RESPONSIBILITY INFORMATION

MAIN SHAREHOLDERS

OPERATIONS WITH RELATED PARTIES

9.5.2 Fair value hierarchy

Fair value hierarchy IFRS 13, “Fair Value Measurement”, establishes a fair value hierarchy and distinguishes three levels: ◆ level 1: fair value based on quoted prices for the same instrument in an active market (without modification or repackaging). This level mainly applies to marketable securities whose prices are reported by the French Financial Markets Authority ( Autorité des Marchés Financiers );

◆ level 2: fair value based on quoted prices for similar assets or liabilities and valuation techniques whose major data are based on observable market data. This level mainly applies to derivative instruments whose values are provided by Bloomberg; ◆ level 3: fair value based on valuation techniques whose major data are not all based on observable market data. Currently, this level does not apply within the Group.

The fair value hierarchy for financial instruments in 2016 and 2017 is as follows:

As at 31 Dec. 2017

Level 3 Prices base on non-observable data

Level 2 Prices base on observable data

Level 1 Quoted prices in active markets

Book value Fair value

(in millions of euros)

Assets Available-for-sale financial assets Loans and receivables excluding finance leases receivables

29

29

-

29

-

420

417 641

- - -

417 641

- - - - - - - - - - -

Trade receivables

641

Derivatives

27

27

27

Cash and cash equivalents

1,912

1,912

1,912

-

Liabilities Bonds Bank loans

4,179 1,623

4,640

- - - - - - -

4,640

1,835

1,835

Other loans and assimilated debt

42 67 54

42 67 54

42 67 54

Interest on loans

Derivatives

Other non-current liabilities

780 724

743 724

743 724

Other debts and deferred income

Level 3 Prices base on non-observable data

Level 2 Prices base on observable data

As at 31 Dec. 2016

Level 1 Quoted prices in active markets

Book value Fair value

(in millions of euros)

Assets Available-for-sale financial assets Loans and receivables excluding finance leases receivables

19

19

-

19

-

20

120 548

120 548

- - -

120 548

- - - - - - - - - - -

Trade receivables

Derivatives

91

91

91

Cash and cash equivalents

1,657

1,657

1,657

-

Liabilities Bonds Bank loans

3,868

4,439

- - - - - - -

4,439

517

524

524

Other loans and assimilated debt

28

28

28

Interest on loans

71

71

71

Derivatives

20 125

20 125

20 125

Other non-current liabilities

Other debts and deferred income

456

456

456

207

AÉROPORTS DE PARIS  REGISTRATION DOCUMENT 2017