RUBIS - 2019 Universal Registration Document

8 FINANCIAL STATEMENTS - 2019 Consolidated financial statements and notes

4.10 FINANCIAL LIABILITIES

ACCOUNTING POLICIES Financial liabilities are recognized and measured in accordance with IAS 9 “Financial instruments”. Financial liabilities are recognized in the Group balance sheet when the Group is a party to the instrument’s contractual provisions. IFRS 9 defines 2 categories of financial liabilities, each subject to a specific accounting treatment: • financial liabilities valued at amortized cost: these mainly include trade payables and borrowings applying the effective interest rate method, if applicable; • financial liabilities valued at fair value through profit and loss, which only represent a very limited number of scenarios for the Group and

do not have a significant impact on the financial statements. Measurement and recognition of derivative instruments The accounting policies used to measure and recognize derivative instruments are set out in note 4.5.

Value on balance sheet

Fair value

Breakdown of financial liabilities by class (IFRS 7) and by category (IFRS 9) (in thousands of euros)

12/31/2019 2,380,829 1,387,751

12/31/2019 2,380,829 1,387,751

Note

12/31/2018 2,036,072 1,364,072

12/31/2018 2,036,072 1,364,072

AT AMORTIZED COST

Borrowings and financial debt

4.10.1 4.10.1 4.10.1 4.10.3 4.10.4

Lease liabilities

182,813 122,335

182,813 122,335

Deposit/consignment

113,001

113,001

Other non-current liabilities Trade and other payables

4,993

2,364

4,993

2,364

643,256 25,894 13,787

526,849 14,738 15,048

643,256 25,894 13,787

526,849 14,738 15,048

Current tax liabilities Other current liabilities

4.10.3

FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

3,795 3,795

4,582 4,582

3,795 3,795

4,582 4,582

Derivative instruments

4.5.2

FAIR VALUE THROUGH PROFIT OR LOSS

109,525 109,525

85,527 85,527

109,525 109,525

85,527 85,527

Short-term bank borrowings TOTAL FINANCIAL LIABILITIES

4.10.1

2,494,149

2,126,181

2,494,149

2,126,181

The fair value of derivative instruments is determined using valuation models based on observable data (level 2).

4.10.1 FINANCIAL DEBT AND LEASE LIABILITIES Financial debt is presented in the following table, which differentiates between non-current and current liabilities:

Current (in thousands of euros)

12/31/2019

12/31/2018

Credit institution loans

254,781

252,873

Interest accrued not yet due on loans and bank overdrafts

2,439

2,857

Bank overdrafts

109,194

85,188

Other loans and similar liabilities

467

684

TOTAL BORROWINGS AND BANK OVERDRAFTS (DUE IN LESS THAN ONE YEAR)

366,881

341,602

Non-current (in thousands of euros)

12/31/2019

12/31/2018

Credit institution loans

1,112,586

1,089,824

Customer deposits on tanks Customer deposits on cylinders Other loans and similar liabilities

18,843 103,492 17,809

18,992 94,009 18,173

TOTAL BORROWINGS AND FINANCIAL DEBT

1,252,730 1,619,611

1,220,998 1,562,600

TOTAL

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