PERNOD-RICARD - URD 2020-21

____ 6. CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Financial instruments Note 4.9 Fair value of financial instruments 1.

Breakdown by accounting classification

30.06.2020

Fair value through equity

Assets at amortised cost

Liabilities at amortised cost

Balance sheet

Measurement level

Fair value – profit

value Fair value

€ million

Assets Equity instruments

Levels 1 and 3

-

93

-

-

93

93

Guarantees, deposits, investment-related receivables Trade receivables and other operating receivables

-

-

156

-

156

156

-

-

906

-

906

906

Other current assets

Level 2

-

-

323

-

323

323

Derivative instruments – assets

Level 1

53

13

-

-

66

66

Cash and cash equivalents

1,935

-

-

-

1,935

1,935

Liabilities Bonds

-

-

-

9,322 9,322

9,749

Bank debts

-

-

-

572

572

572

Lease liabilities

-

-

-

522

522

522

Derivative instruments – liabilities

Level 2

24

-

-

-

24

24

Breakdown by accounting classification

30.06.2021

Fair value through equity

Assets at amortised cost

Liabilities at amortised cost

Balance sheet

Measurement level

Fair value – profit

value Fair value

€ million

Assets Equity instruments

Levels 1 and 3

-

286

-

-

286

286

Guarantees, deposits, investment-related receivables Trade receivables and other operating receivables

-

106

-

106

106

-

1,126

-

1,126

1,126

Other current assets

-

413

-

413

413

Derivative instruments – assets

Level 2

29

43

-

-

72

72

Cash and cash equivalents

Level 1

2,078

-

-

-

2,078

2,078

Liabilities Bonds

-

-

-

8,857

8,857

9,399

Bank debts

-

-

-

229

229

229

Lease liabilities

-

-

-

508

508

508

Derivative instruments – liabilities

Level 2

6

-

-

-

6

6

The methods used are as follows: debt: the fair value of debt is determined for each loan by discounting future cash flows based on the closing market rates adjusted for the Group’s credit risk. For floating-rate loans and bank loans, the fair value is approximately equal to the net carrying amount; Bonds: market liquidity enabled the Bonds to be valued at their fair value using the quoted prices;

other long-term financial liabilities: the fair value of other long-term financial liabilities is calculated for each loan by discounting future cash flows using an interest rate taking into account the Group’s credit risk at the balance sheet date; derivative instruments: the market value of instruments recognised in the financial statements at the balance sheet date was calculated on the basis of available market data, using current valuation models.

221

PERNOD RICARD UNIVERSAL REGISTRATION DOCUMENT 2020-2021