267 / 348
4
Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 22. Financial instruments and management of financial risks
Note 22.
Financial instruments and management of financial risks
22.1.
Fair value of financial instruments
Financial instruments, as assets under Vivendi’s Statement of Financial
Position, include financial assets measured at fair value and at historical
cost, trade accounts receivable and other, as well as cash and cash
equivalents. As liabilities, they include bonds and bank credit facilities,
other financial liabilities (including commitments to purchase non-
controlling interests), as well as trade accounts payable and other non-
current liabilities. In addition, financial instruments include derivative
instruments (assets or liabilities).
Accounting category and fair value of financial instruments
(in millions of euros)
Note
December 31, 2014
December 31, 2013
Carrying value Fair value
Carrying value Fair value
Assets
Available-for-sale securities
4,881
4,881
360
360
Derivative financial instruments
139
139
126
126
Other financial assets at fair value through profit or loss
13
13
5
5
Financial assets at amortized cost
1,160
1,160
208
208
Financial assets
14
6,193
6,193
699
699
Trade accounts receivable and other, at amortized cost
15
1,983
1,983
4,898
4,898
Cash
240
na
525
na
Term deposits and interest-bearing current accounts
1,851
na
470
na
UCITS
4,754
4,754
46
46
Cash and cash equivalents
16
6,845
4,754
1,041
46
Liabilities
Borrowings, at amortized cost
2,227
2,483
12,218
12,721
Derivative financial instruments
33
33
26
26
Commitments to purchase non-controlling interests
87
87
22
22
Borrowings and other financial liabilities
21
2,347
2,603
12,266
12,769
Other non-current liabilities, at amortized cost
121
121
757
757
Trade accounts payable and other, at amortized cost
15
5,306
5,306
10,416
10,416
na: not applicable.
Valuation method for financial instruments at fair value
The following tables show the fair value method of financial instruments according to the three following levels:
p
p
Level 1
: fair value measurement based on quoted prices in active markets for identical assets or liabilities;
p
p
Level 2
: fair value measurement based on observable market data (other than quoted prices included within Level 1); and
p
p
Level 3
: fair value measurement based on valuation techniques that use inputs for the asset or liability that are not based on observable market data.
As a reminder, the other financial instruments at amortized cost are not included in the following tables.
267
Annual Report 2014