194 348
Consolidated Financial Report |
EXPLANATORY NOTES
2014 Annual Report
Prysmian Group
194
The following tables show the impact of offsetting assets
and liabilities for derivative instruments, done on the basis of
master netting arrangements (ISDA and similar agreements).
They also show the effect of potential offsetting in the event
of currently unforeseen default events:
31 December 2014
Gross derivatives
Amounts
Derivatives
Amounts not
Net derivatives
offset
recognised in
offset
(1)
statement of
financial position
Assets
Forward currency contracts
24
-
24
(14)
10
Interest rate swaps
-
-
-
-
-
Metal derivatives
6
-
6
(4)
2
Total assets
30
-
30
(18)
12
Liabilities
Forward currency contracts
38
-
38
(14)
24
Interest rate swaps
3
-
3
-
3
Metal derivatives
11
-
11
(4)
7
Total liabilities
52
-
52
(18)
34
31 December 2013 (*)
Gross derivatives
Amounts
Derivatives
Amounts not
Net derivatives
offset
recognised in
offset
(1)
statement of
financial position
Assets
Forward currency contracts
19
-
19
(7)
12
Interest rate swaps
-
-
-
-
-
Metal derivatives
6
-
6
(3)
3
Total assets
25
-
25
(10)
15
Liabilities
Forward currency contracts
12
-
12
(7)
5
Interest rate swaps
18
-
18
-
18
Metal derivatives
19
-
19
(3)
16
Total liabilities
49
-
49
(10)
39
(*) The previously published prior year consolidated financial statements have been restated following the adoption of IFRS 10 and IFRS 11. Further details can
be found in Section C. Restatement of comparative figures.
(1) Derivatives potentially offsettable in the event of default events under master agreements.
(in millions of Euro)
(in millions of Euro)