Annual Report 2012 - ORCO Germany

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22. Other net financial results
1 2 m o n th s 1 2 m o n th s C h a n g e s
2 0 1 2 2 0 1 1
C h a n g e in c a r ryin g v a lu e o f lia b ilitie s a t a m o rtis e d c o s t - - -
C h a n g e in fa ir v a lu e a n d re a lise d re s u lt o n d e riva tiv e in s tru m e n ts 4 4 9 6 ,3 7 4 (5 ,9 2 5 )
C h a n g e in fa ir v a lu e a n d re a lise d re s u lt o n o th e r f in a n c ia l a s se ts - - -
O th e r n e t fin a n c e lo s s e s (2 ,0 2 7 ) 82 (2 ,1 0 9 )
T o ta l (1 ,5 7 8 ) 6 ,4 5 6 (8 ,0 3 4 )
In 2012
The “change in fair value and realized result on derivative instruments” is mainly related to:
- The gain on derivatives for EUR 2.6 million
- The loss recognized on the embedded bond derivative for EUR 2.2 million as a result of its conversion into a debt eligible to the bond
restructuring. As of December 2012, this embedded bond does not exist anymore.
Other finance charges are mainly related to the standstill fees on GSG for EUR 1.1 million and refinancing fees on Sky Office for EUR 0.4 million and
bank expenses.
In 2011
Change in fair value and realized result on derivative instruments are related to:
- Loss on embedded derivatives on Bonds for EUR 4.3 million;
- Gain on interest derivatives for EUR 10.7mllion
Other finance charges consist mainly of Bank charges for EUR 0.1 million.
ANNUAL CONSOLIDATED FINANCIAL STATEMENTS | 45