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Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 13. Investments in equity affiliates
Note 14.
Financial assets
(in millions of euros)
December 31, 2014
December 31, 2013
Available-for-sale securities
(a)
4,881
360
Other loans and receivables
(b)
1,160
206
Derivative financial instruments
139
126
Cash deposits backing borrowings
-
2
Other financial assets
13
5
Financial assets
6,193
699
Deduction of current financial assets
(49)
(45)
Non-current financial assets
6,144
654
(a)
As of December 31, 2014, available-for-sale securities notably included:
–– 97,387,845 Numericable-SFR shares valued at stock market price on the closing date, or €40.94/share, for an aggregate value of €3,987 million
(please refer to Note 3.1); and
–– 41,499,688 Activision Blizzard shares valued at stock market price on the closing date, or USD$20.15/share, for an aggregate value of $836 million
(€689 million) (please refer to Note 3.4).
As of December 31, 2013, available-for-sale securities included securities held by UMG in Beats for €161 million. On August 1, 2014, these securities
were sold for a net amount of €250 million resulting in a €179 million net gain on sale.
Available-for-sale securities did not include any other publicly quoted securities as of December 31, 2014 and December 31, 2013, and were not
subject to any impairment with respect to fiscal years 2014 and 2013.
(b)
Relates to the cash deposits of €975 million as part of the appeal against the Liberty Media judgment and €45 million ($55 million) as part of the
securities class action in the United States. Please refer to Note 26.
Note 13.
Investments in equity affiliates
(in millions of euros)
Voting interest
Value of equity affiliates
December 31, 2014
December 31, 2013
December 31, 2014
December 31, 2013
N-Vision
(a)
49%
49%
213
215
VEVO
48%
47%
71
58
Numergy
-
47%
-
95
Other
na
na
22
78
306
446
na: not applicable.
(a)
As of December 31, 2014, N-Vision, which indirectly owns a 51% interest in TVN (FTA broadcaster in Poland), was held by Canal+ Group (49%
interest) and ITI (51% interest). On October 16, 2014 Canal+ Group and ITI announced that they were jointly considering strategic options in respect
of their interest in TVN.
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Annual Report 2014