HERMES_REGISTRATION_DOCUMENT_2017

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

22.4 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 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 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 level 3 : internal model with non-observable parameters.

2017

Liabilities at amortised cost

Assets at fair value

Held-to- maturity assets

Available- for-sale assets

Liabilities at fair value

Net carrying amount

Effective interest rate

Loans and receivables

Evaluation level

Interest rate

Fair value

Note

In millions of euros

Financial investments

14

-

138.3

- -

120.8

- - -

- - -

259.1 259.1

- - -

- - -

Liquidity contract

14 10.6

- -

- -

10.6

10.6

1

Other financial assets

14

-

0.0

0.0

0.0

-

Other non- consolidated investments

14

-

-

-

1.0

-

-

1.0

1.0

-

-

-

Held-to-maturity securities Financial assets

14 14 16

-

-

-

-

- - -

- - -

-

-

-

-

-

10.6 138.3 0.0 121.9

270.8 270.8

-

47.6

-

-

47.6

47.6

-

-

-

Loans and deposits Trade and other receivables Foreign currency derivative assets Cash and cash equivalents Bank overdrafts Other borrowings Current accounts in debit Financial debts Trade payables and other liabilities Foreign currency derivative liabilities Other derivatives – liabilities Loan Brazil Loan India

18

-

570.4

-

-

-

-

570.4 570.4

-

-

-

22.2.3

101.1

-

-

-

-

-

101.1 101.1

2

5

19 22 22 22 22

974.9 1,957.0

- - - - -

- - - - -

- - - - -

-

2,931.9 2,931.9

1

-

- -

- - - -

- - - -

(20.7)

(20.7)

(20.7)

-

*

(9.0) (1.6) (1.1)

(9.0) (1.6) (1.1)

(9.0) (1.6) (1.1)

- 11.2% 11.2%

- -

8.6% 8.6% 2.4% 2.4%

22 22

- -

- -

- -

- -

- -

-

-

-

-

- -

(32.5)

(32.5)

(32.5)

-

26

-

-

-

-

- (1,250.5) (1,250.5) (1,250.5)

-

-

-

22.2.3

-

-

-

-

(17.4)

-

(17.4)

(17.4)

2

-

-

-

-

-

-

(1.4)

-

(1.4)

(1.4)

2

-

-

* Interest rates are floating rates.

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