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CONSOLIDATED FINANCIAL STATEMENTS AND CONSOLIDATED MANAGEMENT REPORT 2015
Breakdown of the fair value of the Group’s assets in 2014:
Thousands of euros
Measurement date
Total
Fair value measurement used
Listed value on
active markets
(Level 1)
Measurement date
Total
Assets measured at fair value:
Financial assets - derivatives (Note 23.1)
Forward currency contracts
- $US
December 31, 2014 1,193
-
1,193
-
Available-for-sale financial assets (Note 23.2)
Unlisted shares
Different sectors with
internet platforms
December 31, 2014
365
-
-
365
Financial assets available for sale are financial investments acquired by the Group throughout 2015. At year end, no
factors or evidence arose which lead us to consider that their fair value differs from the purchase price. At year-end
2016, the Group will analyze the above fair value in accordance with the corresponding measurement standard.
23.4. Information on the average payment period to suppliers.Third additional
provision:“Disclosure requirements” of Law 15/2010 of July 5.”
In accordance with the terms of the single additional provision of the Resolution of the Institute of Accounting and
Auditors of Accounts dated January 29, 2016 on information to be included in notes to the financial statements
regarding the average payment period to suppliers, the Group will only present the information for the year, rather than
comparative information; therefore, these are considered first-time consolidated financial statements for these exclusive
effects, with regard to the application of the uniformity principle and the comparability requirement.
Information on the average payment period to suppliers is as follows:
2015
(Days)
Average supplier payment period
77
Ratio of paid transactions
79
Ratio of transactions pending payment
68
(Thousands of euros)
Total payments made
569,799
Total future payments
96,449
This difference is notable when compared to the maximum stipulated by payment arrears regulations, and is exclusively
due to the rigorous control exercised by the Group with regard to mercantile and tax requirements to be met by
invoices received, meaning that they are not paid until the incidents detected have not been resolved. The Group
scrupulously meets its commitments with regard to legislation aimed at battling late payments.