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MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
The sensitivity test shows that the impact of variations on the interest rates applied to the cash surpluses at December
31 would, in any event, not be significant and would exclusively affect the amount of financial income.
Reference rate
(%)
Cash
surpluses
Annual
interest
50 b.p.
Annual
interest
-20 b.p.
Annual
interest
12/31/15
-0.205%
192,405
(394)
0.295%
568
-0.405%
(779)
Reference
rate (%)
Cash
surpluses
Annual
interest
50 b.p.
Annual
interest
-10 b.p.
Annual
interest
12/31/14
0.018%
265,709
48
0.518%
1,316
-0.082%
(218)
23.6.6. Sensitivity analysis and estimates of the impact of changes in exchange rates on
the separate income statement.
The financial instruments exposed to euros/$ exchange-rate risk, mainly consisting of future currency-purchase
agreements, have undergone a sensitivity test at the statement of financial position date.
The exposed statement of financial position value of these financial instruments was corrected by applying a symmetrical
percentage change, equal to the 1-year implicit volatility of the currency in question published by Reuters (2015: 10.07%
and 2014: 8.910%), to the year-end exchange rate.
The sensitivity test shows that the variations on the year-end exchange rate would have had an impact on the Separate
income statement account that, in any event, is not significant.
Analysis of derivative assets in foreign currencies:
31/12/2015
31/12/2014
USD
Exchange rate
Differences
USD
Exchange rate
Differences
22,802
1.0887
865
21,026
1.2141
1,193
Sensibility analysis
22,082
1.1983
(976)
21,026
1.1059
2,880
22,082
0.9791
3,117
21,026
1.3223
(219)
Analysis of derivative liabilities in foreign currencies:
31/12/2015
31/12/2014
USD
Exchange rate
Differences
USD
Exchange rate
Differences
577
1.0887
(7)
393
1.2141
(16)
Sensibility analysis
577
1.1983
42
393
1.1059
(48)
577
0.9791
(66)
393
1.3223
10