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Consolidated Financial Statements as of December 31, 2015
Notes to the Consolidated Financial Statements
Analysis of borrowings
12.3
(excluding derivative instruments recorded in liabilities)
Analysis by interest rate
12.3.1
December 31, 2015
December 31, 2014
(in millions of euros)
before hedging after hedging
before hedging after hedging
Fixed rate borrowings
7,277
6,777
8,035
7,473
Variable rate borrowings
287
803
450
1,038
TOTAL BORROWINGS
(BEFORE DERIVATIVE INSTRUMENTS RECORDED IN LIABILITIES)
7,564
7,580
8,485
8,511
Analysis by currency
12.3.2
The following analysis by currency concerns borrowings including the impact of currency swaps.
December 31, 2015
December 31, 2014
(in millions of euros)
Euro
7,314
8,120
Brazilian real
80
120
Chinese yuan
14
23
Taiwan dollar
74
73
Argentine peso
28
101
Polish zloty
65
69
Romanian leu
5
6
TOTAL BORROWINGS (BEFORE DERIVATIVE INSTRUMENTS RECORDED IN LIABILITIES)
7,580
8,511
Euro-denominated borrowings represented 96% of total borrowings (excluding derivative instruments recorded in liabilities) at December
31,
2015 (95% at December 31, 2014).
Analysis by maturity
12.3.3
December 31, 2015
December 31, 2014
(in millions of euros)
Due within one year
921
1,696
Due in 1 to 2 years
1,306
954
Due in 2 to 5 years
2,447
2,662
Due beyond 5 years
2,905
3,198
TOTAL BORROWINGS (BEFORE DERIVATIVE INSTRUMENTS RECORDED IN LIABILITIES)
7,580
8,511
Other non-current financial assets
12.4
December 31, 2015
December 31, 2014
(in millions of euros)
Investments in non-consolidated companies
78
78
Long-term loans
1
2
Deposits
618
709
Other
594
552
TOTAL OTHER NON-CURRENT FINANCIAL ASSETS
1,291
1,340
2015 REGISTRATION DOCUMENT
209