BIC_Registration_Document_2017
FINANCIAL STATEMENTS Consolidated financial statements
Impact of interest rate and foreign exchange risk hedging on the consolidated 24-5 financial statements as of December 31, 2016 The following amounts have been booked as the fair value of derivatives as of of December 31, 2016 (in thousand euros):
Net financial income/ (expense) before tax (a) – Note 6
Income from operations – Note 4
Other comprehensive income before tax (a)
Derivative instruments and revaluation
Hedge income qualification/ hedged risk
Current assets (b)
Non-current assets
Current Liabilities
Non-current Liabilities
Hedging revaluation impact
Cash flow hedge/Foreign exchange risk
Commercial flows
(2,164)
(1,977)
(10,977)
1,702
33 (12,335)
(4,234)
Net investment/Foreign exchange risk
Dividends
-
-
(3,129)
-
-
(2,890)
-
Subtotal (1)
(2,164)
(1,977)
(14,107)
1,702
33 (15,225)
(4,234)
Revaluation of cross-currency swaps backed by cash positions in foreign currencies
At fair value through P&L/Foreign exchange risk
Subtotal (2) TOTAL 1+2
152
-
-
-
-
(366)
-
(2,012) (4,234) This corresponds to mark-to-market of hedging instruments in the portfolio at December 31, 2016, restated for the reversal of the mark-to-market of the portfolio of hedging a) instruments as of December 31, 2015. Including options not yet exercised held by SOCIÉTÉ BIC representing current assets for 979 thousand euros. (b) (1,977) (14,107) 1,702 33 (15,591)
Portfolio of foreign exchange risk hedges as of December 31, 2017 24-6 To cover its future cash flows, the BIC Group had the following hedges as of December 31, 2017.
Purchase of options
Sale of options
Maturity
Hedge
Forward
Currency
Currency
2018
USD/EUR 297,000,000 USD/CAD 14,400,000 USD/AUD 10,000,000 GBP/EUR 7,500,000 AUD/EUR 8,000,000 CHF/EUR 3,000,000 EUR/MXN 4,000,000 JPY/EUR 1,000,000,000 CAD/EUR 6,000,000 NZD/EUR 8,000,000 PLN/EUR 2,000,000 RON/EUR 5,000,000 SEK/EUR 31,000,000 USD/NZD 1,600,000 USD/JPY 2,000,000
USD 49,000,000 78,000,000 USD 13,000,000 19,500,000
USD USD
USD USD
- -
- -
- -
GBP 16,000,000 24,000,000 AUD 18,000,000 29,000,000
GBP AUD
CHF EUR
2,000,000
2,500,000
CHF
-
-
-
JPY 300,000,000 400,000,000 CAD 12,000,000 18,500,000
JPY
CAD
NZD
-
-
-
PLN 35,000,000 51,500,000
PLN
RON
- - -
- - -
- - -
SEK
USD
2019
USD/CAD 3,000,000
USD
-
-
-
CAD/EUR GBP/EUR
- -
- -
2,000,000 4,000,000
2,000,000 8,000,000
CAD GBP
USD/JPY
9,500,000
USD
-
-
-
217
BIC GROUP - 2017 REGISTRATION DOCUMENT
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