VINCI - 2008 annual report
VINCI - 2008 annual report
VINCI - 2008 annual report
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Consolidated fi nancial statements<br />
31/12/<strong>2008</strong> Accounting categories (*) Fair value<br />
Balance sheet headings<br />
and classes of instrument<br />
Financial<br />
instruments<br />
through<br />
profi t or loss<br />
Derivatives<br />
designated<br />
as hedges<br />
Assets<br />
measured<br />
at fair<br />
value<br />
(fair value<br />
option)<br />
Availablefor-sale<br />
fi nancial<br />
assets<br />
Loans<br />
and<br />
receivables<br />
Liabilities<br />
at<br />
amortised<br />
cost<br />
Total<br />
carrying<br />
amount for<br />
the class<br />
Listed<br />
prices<br />
Internal<br />
model<br />
based on<br />
observable<br />
factors<br />
Internal<br />
model not<br />
based on<br />
observable<br />
factors<br />
Fair value<br />
of the<br />
class<br />
Cash management fi nancial<br />
assets 288.6 288.6 216.6 72.0 288.6<br />
Financial current accounts,<br />
assets 50.0 50.0 50.0 50.0<br />
Cash equivalents 3,813.7 3,813.7 3,356.6 457.1 3,813.7<br />
Cash 1,254.8 1,254.8 1,254.8 1,254.8<br />
IV - Current fi nancial assets 5,407.3 44.4 5,451.7 3,573.2 1,878.5 5,451.7<br />
Total assets 153.8 159.8 5,407.3 302.7 11,815.8 17,839.5 3,756.1 13,963.5 119.8 17,839.5<br />
Bonds (5,409.5) (5,409.5) (4,784.4) (4,784.4)<br />
Infl ation-linked loans (397.9) (397.9) (397.9) (397.9)<br />
Other bank loans and other<br />
fi nancial debt (13,931.1) (13,931.1) (4,802.5) (**) (9,071.9) (13,874.4)<br />
Finance lease debt restated (203.9) (203.9) (203.9) (203.9)<br />
V - Non-current fi nancial<br />
debt (19,942.4) (19,942.4) (9,585.1) (9,673.8) (19,258.8)<br />
Interest rate derivatives –<br />
fair value hedges (6.8) (6.8) (6.8) (6.8)<br />
Interest rate derivatives –<br />
cash fl ow hedges (246.1) (246.1) (246.1) (246.1)<br />
Interest rate derivatives not<br />
designated as hedges (85.5) (85.5) (85.5) (85.5)<br />
Foreign currency exchage rate<br />
derivatives – cash fl ow hedges (0.9) (0.9) (0.9) (0.9)<br />
Foreign currency exchage rate<br />
derivatives – hedge of net<br />
foreign investment (0.7) (0.7) (0.7) (0.7)<br />
Foreign currency exchage rate<br />
derivatives not designated as<br />
hedges<br />
Derivatives – other instruments<br />
(13.1) (13.1) (13.1) (13.1)<br />
VI - Derivative fi nancial<br />
instruments - liabilities (98.7) (254.5) (353.1) (353.1) (353.1)<br />
VII - Trade payables (6,803.8) (6,803.8) (6,803.8) (6,803.8)<br />
Other current fi nancial<br />
liabilities (167.3) (167.3) (167.3) (167.3)<br />
Financial current accounts,<br />
liabilities (76.3) (76.3) (76.3) (76.3)<br />
Bank overdrafts (555.1) (555.1) (555.1) (555.1)<br />
VIII - Current fi nancial<br />
liabilities (631.4) (167.3) (798.7) (798.7) (798.7)<br />
Total equity and liabilities (98.7) (254.5) (631.4) (26,913.6) (27,898.1) (9,585.1) (17,629.3) (27,214.4)<br />
Total 55.1 (94.6) 4,775.9 302.7 11,815.8 (26,913.6) (10,058.7) (5,829.0) (3,665.7) 119.8 (9,374.9)<br />
(*) The Group has no held-to-maturity fi nancial assets<br />
(**) Listed price of loans issued by CNA<br />
The fair value is determined either:<br />
– on the basis of listed prices on an active market; whenever listed prices on an active market are available, these are used in priority in determining<br />
the market value. Marketable securities and some listed bond loans are measured in this way;<br />
– on the basis of internal measurement techniques using the usual mathematical calculation methods incorporating observable market data<br />
(forward rates, yield curves, etc).<br />
245
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