291
Annual Report -
2013
-
Vivendi
4
Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 24. Financial instruments and management of financial risks
Valuation method for financial instruments at fair value
The following tables show the fair value method of financial instruments
according to the three following levels:
level 1
: fair value measurement based on quoted prices in active
markets for identical assets or liabilities;
level 2
: fair value measurement based on observable market data
(other than quoted prices included within level 1); and
level 3
: fair value measurement based on valuation techniques that
use inputs for the asset or liability that are not based on observable
market data.
As a reminder, the other financial instruments at amortized cost are not
included in the following tables.
(in millions of euros)
Note
December 31, 2013
Total
Level 1
Level 2
Level 3
Assets
Available-for-sale securities
16
360
-
304
56
Derivative financial instruments
24.2
126
-
126
-
Other financial assets at fair value through profit or loss
5
5
-
-
Cash and cash equivalents
18
1,041
1,041
-
-
Liabilities
Commitments to purchase non-controlling interests
22
-
-
22
Derivative financial instruments
24.2
26
-
26
-
(in millions of euros)
Note
December 31, 2012
Total
Level 1
Level 2
Level 3
Assets
Cash management financial assets
16
301
301
-
-
Available-for-sale securities
16
197
-
154
43
Derivative financial instruments
24.2
137
-
137
-
Other financial assets at fair value through profit or loss
15
9
-
6
Cash and cash equivalents
18
3,894
3,894
-
-
Liabilities
Commitments to purchase non-controlling interests
8
-
-
8
Derivative financial instruments
24.2
36
-
36
-
Available-for-sale securities valued at their level 2 fair value included
securities held by UMG in Beats and Spotify for €161 million
and €143 million, respectively (€70 million and €84 million as of
December 31, 2012). In 2013, the fair value of these securities was
reassessed following the entry of new investors to their capital.
In 2013 and 2012, there was no transfer of financial instruments
measured at fair value between level 1 and level 2. In addition, as
of December 31, 2013 and December 31, 2012, financial instruments
measured at level 3 fair value did not include any significant amount.
