2013-vinci-annual-report

The fair value of non-current derivative financial instruments (assets) is presented under net financial debt (see Note E.21 “Net financial
debt”).
The part at less than one year of other non-current financial assets is included under other current financial assets for €28 million.
Available-for-sale financial assets and loans and receivables at amortised cost break down as follows:
Available-for-sale financial assets
Loans and receivables at amortised cost
Investments in
unlisted
companies
Collateralised
loans and
receivables
Investments in listed
Financial assets
Other loans and
(in € millions)
companies
(PPPs)
receivables
Total
01/01/2012 183 123 182 2 341 831
Acquisitions as part of business combinations – 2 – – 1 3
Other acquisitions during the period – 26 47 1 107 181
Fair value adjustment recognised in equity 18 – – – – 18
Impairment losses (0) (6) – – (5) (11)
Disposals during the period (0) (1) (33) (1) (34) (69)
Currency translation differences – – (0) – (0) (0)
Other movements (1) (22) (12) (0) (27) (62)
31/12/2012 199 123 184 2 382 890
Acquisitions as part of business combinations – 1 – – – 1
Other acquisitions during the period 366 78 65 5 158 672
Fair value adjustment recognised in equity 86 (0) – – – 86
Impairment losses (0) (5) – – (1) (6)
Disposals during the period (9) (2) (28) (0) (27) (66)
Currency translation differences 1 (0) (0) (0) (4) (3)
Other movements (642) (22) (39) (5) (124) (833)
31/12/2013 1 173 182 2 385 742
Changes in the period in available-for-sale assets arise mainly from the acquisition of an additional 4.7% stake in ADP, the change in its share
price during the period and the move to account for ADP under the equity method from 29 November 2013 (see note B.3.1 “Purchase of
additional ADP shares”).
Changes in PPP financial receivables in 2013 related mainly to CFE.
The increase in other loans and receivables includes €97 million of funding provided to various concession or PPP project companies.
The main concession contracts reported using the financial asset model and the related commitments are described in Note F.25 “Controlled
subsidiaries’ concession and PPP contracts – financial asset model or bifurcated model”.
Loans and receivables measured at amortised cost break down by maturity date as follows:
(in € millions) 31/12/2013 Between 1 and 5 years After 5 years
Financial assets – PPPs and concessions 182 35 147
Loans and collateralised receivables 2 2 –
Other loans and receivables 385 248 137
Loans and receivables at amortised cost 568 285 284
(in € millions) 31/12/2012 Between 1 and 5 years After 5 years
Financial assets – PPPs and concessions 184 32 152
Loans and collateralised receivables 2 2 –
Other loans and receivables 382 185 198
Loans and receivables at amortised cost 568 219 349
16. Construction contracts (VINCI Energies, Eurovia and VINCI Construction)
16.1 Financial information on construction contracts
Costs incurred plus profits recognised less losses recognised and intermediate invoicing are determined on a contract-by-contract basis. If
for a given contract this amount is positive, it is shown on the line “Construction contracts in progress – assets”. If negative, it is shown on
the line “Construction contracts in progress – liabilities”.
CONSOLIDATED FINANCIAL STATEMENTS 243