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Consolidated Financial Statements as of December 31, 2015
Notes to the Consolidated Financial Statements
Assets and liabilities measured at fair value based on the hierarchy provided for in IFRS 13
–
Fair Value Measurement
(Note 1.4)
December 31, 2015
(in millions of euros)
Level 1
Level 2
Level 3
Total
Investments in non-consolidated companies
78
78
Other long-term investments
443
443
Derivative instruments recorded in current financial assets
151
151
Cash and cash equivalents
2,724
2,724
Derivative instruments recorded in liabilities
(39)
(10)
(49)
December 31, 2014
(in millions of euros)
Level 1
Level 2
Level 3
Total
Investments in non-consolidated companies
78
78
Other long-term investments
403
403
Available-for-sale financial assets
96
96
Derivative instruments recorded in current financial assets
111
111
Cash and cash equivalents
3,113
3,113
Derivative instruments recorded in liabilities
(51)
(9)
(61)
No assets or liabilities were reclassified between the various levels between December 31, 2014 and 2015.
Net debt
12.2
Net debt calculation
12.2.1
Net debt at December
31, 2015 amounted to 4,546 million euros, a decrease of 408 million euros from December
31, 2014. This amount breaks
down as follows:
December 31, 2015
December 31, 2014
(in millions of euros)
Bonds and notes
6,884
6,915
Other borrowings
345
1,078
Commercial paper
-
120
Finance lease liabilities
351
398
TOTAL BORROWINGS BEFORE DERIVATIVE INSTRUMENTS RECORDED IN LIABILITIES
7,580
8,511
Derivative instruments recorded in liabilities
49
61
TOTAL LONG AND SHORT-TERM BORROWINGS
[1]
7,629
8,572
Of which, long-term borrowings
6,662
6,815
Of which, short-term borrowings
966
1,757
Other current financial assets
358
504
Cash and cash equivalents
2,724
3,113
TOTAL CURRENT FINANCIAL ASSETS
[2]
3,083
3,618
NET DEBT
[1] - [2]
4,546
4,954
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2015 REGISTRATION DOCUMENT