financial report and registration document 2011 - Groupe SEB

Note 24.2. NET DEBT
Financial Report and Registration Document 2011
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Consolidated fi nancial statements
Notes to the consolidated fi nancial statements
(in € millions) 2011 2010 2009
Long-term borrowings 534.1 199.9 301.1
Short-term borrowings 332.1 172.0 246.7
TOTAL BORROWINGS 866.2 371.9 547.8
Cash and cash equivalents, net (196.0) (236.6) (307.8)
Derivative instruments, net 2.6 (4.2) 3.4
NET DEBT 672.8 131.1 243.4
Net debt corresponds to total long- and short-term borrowings less cash
and cash equivalents and derivative instruments used for Group fi nancing
purposes that are readily convertible into cash.
NOTE 25 FAIR VALUE OF FINANCIAL INSTRUMENTS
Note 25.1. FINANCIAL INSTRUMENTS
(in € millions)
Carrying
amount Fair value
At 31 December 2011, no borrowings were subject to acceleration clauses.
Only undrawn credit facilities were subject to debt covenants that could have
an impact on the interest rate of the debt.
2011 Financial instruments by category
At fair value
through
profi t (excl.
derivatives)
Available
for sale
Loans and
receivables
Held to
maturity
Derivative
instruments
Assets
Investments in non-consolidated companies 0.4 0.4 0.4
Other non-current fi nancial assets 9.5 9.5 9.5
Other non-current assets 7.7 7.7 7.7
Trade receivables
Other current receivables, excl. prepaid
828.4 828.4 828.4
expenses 60.3 60.3 60.3
Derivative instruments 8.1 8.1 8.1
Cash and cash equivalents 196.0 196.0 196.0
TOTAL FINANCIAL ASSETS
Liabilities
1,110.4 1,110.4 196.0 0.4 905.9 0 8.1
Long-term borrowings 534.1 552.5 552.5
Other non-current liabilities 26.8 26.8 26.8
Trade payables 515.6 515.6 515.6
Other current liabilities 238.7 238.7 238.7
Derivative instruments 17.6 17.6 17.6
Short-term borrowings 332.1 332.1 332.1
TOTAL FINANCIAL LIABILITIES 1,664.9 1,683.3 0 0 0 1,665.7 17.6
GROUPE SEB
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