54
MEDIASET ESPAÑA COMUNICACIÓN, S.A.
NOTES TOTHE FINANCIAL STATEMENTS FOR THEYEAR ENDED DECEMBER 31, 2013
(Thousands of euros)
was extended to June 30, 2013, with interest at the 3-month Euribor plus a market spread.The Company incorporated
the interest earned until year end to the loan, which totaled 4,330 thousand euros. In June 2013, the Company extended
its maturity date to December 31, 2014. Accrued interest in 2013 amounted to 1,830 thousand euros.
b) Derivatives
The Company uses derivatives to hedge its risks against foreign-currency fluctuations on the purchase of audiovisual
property rights made in the year. It also hedges against foreign currency risk on commercial transactions with customers,
and these transactions were recognized in the Company’s balance sheet.As required by the corresponding measurement
and recognition policy, these derivatives are classified as “held for trading”.
At December 31, 2013 and 2012 derivative financial instruments were recognized under “Financial liabilities” (Note 8.2 b.3).
Foreign currency hedges on rights contracts are measured as the difference between the present value of the foreign
currency hedge at the forward rate for the contract and the value of the foreign exchange hedge at the year-end
exchange rate.
8.2. Financial liabilities
The breakdown of financial liabilities in 2013 and 2012 was as follows:
(Thousands of euros)
Bank
borrowings
Bonds & other
marketable debt
securities
Derivatives and
other financial
liabilities
Total
2013
2012
2013
2012
2013
2012
2013
2012
Non-current financial liabilities
Trade and other payables
-
-
-
-
123
171
123
171
Liabilities at fair value through profit
or loss
-
-
-
-
-
-
-
-
Held for trading
-
-
-
-
-
-
-
-
Other
-
-
-
-
-
-
-
-
Hedging derivatives
-
-
-
-
-
-
-
-
-
-
-
-
123
171
123
171
Current financial liabilities
Trade and other payables
196
131
-
-
311,334 306,695 311,530 306,826
Liabilities at fair value through profit
or loss
-
-
-
-
-
-
-
-
Held for trading
-
-
-
-
-
-
-
-
Other
-
-
-
-
-
-
-
-
Hedging derivatives
-
-
-
-
777
417
777
417
196
131
-
-
312,111 307,112 312,307 307,243
196
131
-
-
312,234 307,283 312,430 307,414
1...,44,45,46,47,48,49,50,51,52,53 55,56,57,58,59,60,61,62,63,64,...216