EURONEXT_Registration_Document_2017
6
FINANCIAL STATEMENTS
Notes to the Consolidated Financial Statements
Unlisted Equity Securities in Algomi Ltd The long-term investment in unlisted equity securities of Algomi Ltd was acquired in 2017 (see Note 19). The Group determined the purchase price observed in this acquisition and another recent transaction to be best proxy for fair value as per 31 December 2017.
Contingent Consideration Payable and Redemption Liability The inputs used for the valuation of the contingent consideration payables and the redemption liability related to the acquisitions of company Webcast B.V. and FastMatch Inc. are described in Note 5 “Business combinations”. Management considers the impact of changes of these unobservable inputs not material for the total level 3 portfolio.
Note 30.2.3 Fair Values of Other Financial Instruments The fair values of trade and other receivables and payables, as well as borrowings, approximate their carrying amounts.
NOTE 31 RELATED PARTIES
Note 31.1 Transactions with Related Parties Euronext has related party relationships with its associates and joint ventures (as described in Note 7). Transactions with associates and joint ventures are generally conducted with terms equivalent to arm’s length transactions. Transactions between subsidiaries are not included in the description as these are eliminated in the Consolidated Financial Statements. The interests in Group Companies are set out in Note 4.
For more information on the share exchange transaction with associate LCH S.A., please refer to Note 2. The transactions with related parties and outstanding year-end balances are reported in the tables below:
2017
2016
In thousands of euros
Sales to related parties
3
-
Purchases from related parties
9
405
AS AT 31 DECEMBER 2017
AS AT 31 DECEMBER 2016
In thousands of euros
Receivables from related parties
2,809
-
Payables to related parties
113
1,309
Note 31.2 Key Management Remuneration The other related parties disclosure relates entirely to the key management of Euronext, being represented by the Company’s Managing Board and Supervisory Board. The compensation expense recognised for key management is as follows:
2017
MANAGING BOARD
SUPERVISORY BOARD
TOTAL
In thousands of euros
Short term benefits
(4,302)
(529)
(4,831)
Share-based payment costs (a)
(1,511)
-
(1,511)
Post-employment benefits
(123)
-
(123)
Termination benefits
(218)
-
(218)
TOTAL BENEFITS
(6,154)
(529)
(6,683)
(a) Share based payments costs are recognised in accordance with IFRS 2.
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2017 REGISTRATION DOCUMENT
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