Eurazeo / 2018 Registration document

CONSOLIDATED FINANCIAL STATEMENTS Notes to the Consolidated Financial Statements

9.2

Derivatives

Changes in fair value during the fiscal year

Impact on net financial expense *

Impact on hedging reserve

Fair value as of 12/31/2018

Nominal

(In thousands of euros) Interest rate derivatives Interest rate caps

42 42

42

-

42

Total non-current asset derivatives

Interest rate caps

306,131 113,619 20,600 651,562

(2,708) (6,620)

(4,056)

-

(4,056)

Interest rate swaps maturing 2019 Interest rate swaps maturing 2020

401

83

318

(20)

73

- -

73

Interest rate swaps maturing 2021 and beyond Total non-current liability derivatives

(1,557)

(795)

(795)

(10,905)

Interest rate swaps maturing 2019 Interest rate swaps maturing 2020 Total current liability derivatives

33,916 50,000

(140)

202

-

202 (23)

(77)

(106)

(83)

(217)

TOTAL INTEREST RATE DERIVATIVES QUALIFYING FOR HEDGE ACCOUNTING

1,175,828

(11,080)

(4,239)

-

(4,239)

Other interest rate caps

97 97

(40)

(40)

-

Total non-current asset derivatives

Other interest rate caps

- -

(22)

(22)

Total current asset derivatives

Other interest rate swaps

(1,744) (1,744)

829

829

-

Total non-current liability derivatives

Other interest rate caps

1

(15) (78)

(15) (78)

- -

Other interest rate swaps (including swaps maturing during the year)

(68) (67)

Total current liability derivatives

4

TOTAL INTEREST RATE DERIVATIVES NOT QUALIFYING FOR HEDGE ACCOUNTING

(1,714)

674

674

-

* Ineffective portion of instruments qualifying for hedge accounting and change in fair value of other derivatives.

Changes in fair value during the fiscal year

Impact on net financial expense

Impact on hedging reserve

Fair value as of 12/31/2018

(In thousands of euros)

Other derivative instruments Other derivatives

2,281 2,281

283

-

283

Total other non-current asset derivatives

Other derivatives

765 765

(1,845)

(1,845)

Total other current asset derivatives

Other derivatives

(1,078) (1,078) (3,054) (3,054) (1,086)

-

-

-

Total other non-current liability derivatives

Other derivatives

279

164

115

Total other current liability derivatives TOTAL OTHER DERIVATIVE INSTRUMENTS

(1,283)

(1,681)

398

Impact of equity-accounted groups

(6,122)

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

(9,963)

Note 9.4 Note 9.4

674

(1,681)

TOTAL IMPACT ON NET FINANCIAL EXPENSE (2) (1,007) 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 (-€4.2 million) and other hedging derivatives (+€0.4 million) and the impact of equity-accounted groups (-€6.1 million). The impact on the net financial expense is equal to the impact of interest rate derivatives (€0.7 million) and the impact of other derivatives (-€1.7 million). (2)

Eurazeo

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2018 Registration Document