EURAZEO_REGISTRATION_DOCUMENT_2017
CONSOLIDATED FINANCIAL STATEMENTS Notes to the Consolidated Financial Statements
There were no covenant breaches for which a major counterparty default has been notified or which benefited from a waiver at the period end. The debt repayment schedule was drawn up based on current scheduled maturity dates.
9.2
Derivative instruments
Fair value as of 12/31/2017
Changes in fair value during the fiscal year
Impact on net financial expense *
Impact on hedging reserve
Nominal
(In thousands of euros) Interest-rate derivatives Interest rate caps
468,927
1,072 1,348 2,420 1,427 2,421 (349) (452) 994
1,047 1,348
983
64
Interest rate swaps maturing 2020 and beyond (delayed start)
-
1,348
Total non-current asset derivatives
Interest rate caps
150,036 217,610
133 (76)
133 (76)
- -
Interest rate swaps maturing 2019 Total current asset derivatives Interest rate swaps maturing 2018 Interest rate swaps maturing 2019
28,550 52,644 497,999
(28) 106
(28)
-
3
103
Interest rate swaps maturing 2020 and beyond
(7,703) (8,504)
2,688
278
2,410
Total non-current liability derivatives
Interest rate swaps maturing 2020 and beyond
50,000
(54) (54)
(54)
-
(54)
Total current liability derivatives
TOTAL INTEREST RATE DERIVATIVES QUALIFYING FOR HEDGE ACCOUNTING
1,465,766
(3,717)
5,164
1,293
3,871
Other interest rate caps
91 91 38
(53)
(53)
-
Total non-current asset derivatives
Other interest rate caps
(287)
(287)
Other interest rate swaps (including swaps that matured during the year)
-
(1,020)
(1,020)
-
Total current asset derivatives
38
Other interest rate swaps
(1,457) (1,457)
773
773
-
4
Total non-current liability derivatives
Other interest rate caps
(348)
8
8
- -
Other interest rate swaps (including swaps that matured during the year)
-
3,485
3,485
Total current liability derivatives
(348)
TOTAL INTEREST RATE DERIVATIVES NOT QUALIFYING FOR HEDGE ACCOUNTING
(1,676)
2,906
2,906
-
Ineffective portion of instruments qualifying for hedge accounting and change in fair value of other derivatives. *
Fair value as of 12/31/2017
Changes in fair value during the fiscal year
Impact on net financial expense
Impact on hedging reserve
Note
(In thousands of euros)
Other derivative instruments Embedded derivative associated with the structured financing of AccorHotels shares
-
(1,834) (1,044)
(1,834)
-
Other derivatives
900 900
(238)
(806)
Total other current asset derivatives
Equity swap associated with the structured financing of AccorHotels shares
-
1,834 (594)
1,834 (643)
-
Other derivatives
(1,107) (1,107)
49
Total other current liability derivatives TOTAL OTHER DERIVATIVE INSTRUMENTS
(207)
(1,638)
(881)
(757) 4,483 7,597
Impact of equity-accounted groups
Gains (losses) arising on the fair value measurement of hedging instruments (1)
Income and expenses on changes in interest rate derivatives Income and expenses on changes in other derivatives
Note 9.4 Note 9.4
4,199 (881)
Total impact on net financial expense (2) 3,319 Gains and losses arising on the fair value measurement of hedging instruments are equal to the sum of the impact on hedging reserves of interest rate (1) derivatives (+€3.9 million) and other hedging derivatives (-€0.8 million) and the impact of equity-accounted groups (+€4.5 million). The impact on the net financial expense is equal to the impact of interest rate derivatives (€1.3 million and €2.9 million) and the impact of other (2) derivatives (-€0.9 million).
233
Eurazeo
2017 Registration document
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