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FINANCIAL STATEMENTS AND MANAGEMENT REPORT 2015
b) Available-for-sale financial assets
In 2014, this included unlisted minority financial investment which were sold to Advertisement 4 Adventure, S.L.U.
(Note 7.2.1.).
c) 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.Asrequired by the corresponding measurement
and recognition policy, these derivatives are classified as “held for trading.”
The breakdown of the notional amounts of derivatives outstanding at the Company at December 31, 2015 is as follows:
Assets
Notional amount/
Maturity up to one year
Amount in $
Fair value
Dollars
Year - end
(€/$) exc. rate)
Purchase of unmatured currency
Purchase of dollars in euros
19,413
22,165
1.0887
866
Sales of dollars in euros
-
-
-
-
Net
19,413
22,165
1.0887
866
The breakdown of the notional amounts of derivatives outstanding at the Company at December 31, 2014 is as follows:
Assets
Notional amount/
Maturity up to one year
Amount in $
Fair value
Dollars
Year - end
(€/$) exc. rate)
Purchase of unmatured currency
Purchase of dollars in euros
16,096
21,026
1.2141
1,193
Sales of dollars in euros
-
-
-
-
Net
16,096
21,026
1.2141
1,193
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.
d) Non-current assets held for sale
This included a minority financial investment of 7,932 thousand euros corresponding to Grupo Yamm Comida a
Domicilio, S.L., which was planned for sale at year-end 2014, and was then sold on January 25, 2015, generating a 5,432
thousand euro gain, recognized under Gains (losses) on disposals and other gains (losses)”.