AFD - 2018 Registration document

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS ACCOUNTING PRINCIPLES ADOPTED BY THE EUROPEAN UNION

Notes to the consolidated financial statements

Impact of application of IFRS 9

Adjustments

Initial measurement of healthcare plans for staff working overseas

Classification and measurement of financial instruments

31/12/2017 IAS 39

Impairments for credit risk

01/01/2018 IFRS 9

In thousands of euros

Restatements

Central banks

76

76

Financial liabilities at fair value through profit and loss

266,205

266,205

Hedging derivatives

1,057,272 29,613,863

1,057,272 29,613,863

Debt securities in issue at amortised cost

Interbank market securities

679,787

679,787

Bonds

28,214,071

28,214,071

Subordinated debt

720,005

720,005

Debts to credit institutions and equivalent at amortised cost

17,060

Demand

16,416

16,416

Term

644

644

Debts to customers at amortised cost

2,187 6,345

2,187 8,455

Deferred tax liabilities

2,110

Accruals and other miscellaneous liabilities

1,811,741

1,811,741

Allocated public funds

69,776

69,776

Other liabilities

1,741,964 849,211 5,798,892 3,267,999 2,069,707

1,741,964

Provisions

63,249

9,036 921,496 -9,036 5,930,000

Equity Group share

15,800 124,344

Provisions and related retained earnings Consolidated retained earnings and other Gains and losses directly recognised in equity

3,267,999

73,102

124,344

-9,036 2,258,117

6

148,381 312,805 294,602

-57,302

91,079 312,805 296,477

Earnings for the period

Minority interests

390

1,485

TOTAL LIABILITIES

39,717,454

-

18,301 189,079

- 39,924,834

P debt securities recognised at fair value through equity to be included in profit or loss in the future, amounting to €1,126M and relating to debt securities held for cash management purposes. The contractual flows of these securities are SPPI but their business model involves frequent sales; P equity instruments for which the Group has chosen to opt for recognition at fair value through equity to be reported outside profit or loss for €452M, which concern direct equity investments held by AFD Group; P debt securities at amortised cost for €65M, which are mainly grouped within a portfolio of securities held as collateral.

The main effects of the application of the first part of IFRS 9 (“classification and measurement”) at 1 January 2018 were as follows: RECLASSIFICATION OF AVAILABLE-FOR-SALE AND HELD-TO-MATURITY FINANCIAL ASSETS Available-for-sale financial assets have been reclassified primarily to: P debt securities recognised at fair value through profit or loss for €1,446M and corresponding to units held in collective investment funds (investment funds, UCITS, etc.), equity securities with embedded put options and convertible bonds whose contractual flows are not SPPI;

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REGISTRATION DOCUMENT 2018