BIC_Registration_Document_2017
FINANCIAL STATEMENTS Consolidated financial statements
Net income impact by category of instruments 22-7 Net income related to the different categories of financial assets and liabilities are as follows:
At December 31, 2017
Breakdown by category of instruments
At fair value through the income statement
Loans and receivables (including cash)
Derivative hedging instruments
Available- for-sale assets
Debt at amortized cost
Nature of impact (in thousand euros)
Held-to-maturity investments
Total
Interests income/(expense)
6,279
3,536
-
- - - - -
5,975
- - - - -
(3,232)
Revaluation at fair value
675
- - -
675
-
-
Translation
(169)
- -
(4,674) 5,243 6,544
4,504
Net depreciation
5,243
-
TOTAL
12,027
3,536
675
1,272
At December 31, 2016
Breakdown by category of instruments
At fair value through the income statement
Loans and receivables (including cash)
Derivative hedging instruments
Available- for-sale assets
Debt at amortized cost
Type of impact (in thousand euros)
Held-to-maturity investments
Total
Interests income/(expense)
5,668
2,966
-
-
5,947
-
(3,246)
Revaluation at fair value
(2,207)
-
(2,207)
-
-
-
-
Translation
(15,109)
- -
- -
- - -
(13,044)
- - -
(2,828)
Net depreciation
(1,038)
(1,038)
-
TOTAL
(12,686)
2,966
(2,207)
(8,134)
(6,074)
SHARE-BASED PAYMENTS NOTE 23
Grant of stock option plans 23-1 All granted plans are equity-settled plans. Group stock option plans
The Group issues shares and stock options to certain employees as compensation for services provided. Equity-settled share-based payments are measured at fair value (excluding the effect of non market-based vesting conditions) at the date of grant. This fair value on the vesting date is expensed over the vesting period, based on the Group’s estimate of the shares that will eventually be vested and adjusted for the effect of non-market-based vesting conditions. Fair value is measured using the method given below. The expected life used in the model has been adjusted, based on management’s best estimates, for the effect of non-transferability, exercise restrictions and behavioral considerations. Share-based payments are booked in staff costs (see Note 4 Operating expenses, line “staff costs” and in the lines of the income statement presented by functions).
As part of a policy recommended by the Compensation and Nomination Committee, the Board of Directors decided not to award stock options with effect from 2011 and to set up a policy of free share grants. Some 500 executives receiving stock options on the basis of their position in the Company (eligible managers) received share grants subject to three-year performance conditions. To replace the stock option programs rewarding staff selected by Management, free share grants without performance conditions were introduced.
208
BIC GROUP - 2017 REGISTRATION DOCUMENT
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