HERMÈS - 2018 Registration document

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Consolidated financial statements Notes to the consolidated financial statements

23.4 Fair value and hierarchy by level of fair value of financial assets and liabilities The assets and liabilities recorded at fair value are classified according to the following three fair value levels: s s level 1 : prices listed on an active market. If listed prices in an active market are available, they are used as a priority in order to determine market value;

s s level 2 : internal model with parameters observable using internal valuation techniques. These techniques require the use of the usual mathematical calculation methods that include data that can be observed within the markets (future prices, yield curve, etc.). The cal- culation of most financial derivatives traded within markets is perfor- med on the basis of models that are commonly used by participants in order to assess these financial instruments; s s level 3 : internal model with non-observable parameters. For 2018 and 2017, there were no transfers between levels 1 and 2 for financial assets and liabilities recognised at fair value.

2018

Non- recyclable financial assets at fair value through equity

Assets at fair value through profit or loss 1 2

Financial assets at amortised cost

Liabilities at amortised cost

Effective interest rate

Liabilities at fair value 2

Net carrying amount

Evaluation level

Interest rate

Fair value

Note

In millions of euros

Financial investments

-

150.0 143.7

- - -

- - -

293.7 293.7

- - -

- - -

Liquidity contract

10.3

- -

- -

10.3

10.3

1 2

Other financial assets Other non-consolidated investments Held-to-maturity securities

8.8

8.8

8.8

- -

- -

1.2

- -

- -

1.2

1.2

- -

- -

- -

-

-

-

15 17 19

Financial assets

19.1 150.0 144.9

- - -

- - -

313.9 313.9

- - -

- - -

- - -

Loans and deposits

- -

46.7

- -

46.7

46.7

Trade and other receivables Foreign currency derivative assets Cash and cash equivalents

527.1

527.1 527.1

23.2.3

34.9

-

- -

- -

- -

34.9

34.9

2 1

- -

- -

20 1,181.2 2,297.9

3,479.1 3,479.1

Bank overdrafts

- - - -

- - - -

- - - -

- - - -

(14.3)

(14.3)

(14.3)

- - - -

3

-

Loan Brazil

(8.0) (1.3)

(8.0) (1.3)

(8.0) (1.3)

8.0% 8.0% 2.0% 2.0%

Other borrowings

Current accounts in debit

-

-

-

3

-

23

-

Financial debts

-

-

-

-

(23.6)

(23.6)

(23.6)

-

Trade payables and other liabilities Foreign currency derivative liabilities Other derivatives - liabilities

27

-

-

-

-

(1,470.6) (1,470.6) (1,470.6)

-

-

-

23.2.3

-

-

-

(57.8)

-

(57.8)

(57.8)

2

-

-

-

-

-

-

-

-

-

-

-

-

(1) Classification in the category Assets at fair value through profit or loss is imposed in accordance to IFRS 9 depending on the business model for these assets. (2) Before hedge accounting. (3) Interest rates correspond to floating rates.

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2018 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL