39. Offsetting financial assets and financial liabilities

The following financial assets and financial liabilities that are subject to offsetting agreements, enforceable master netting arrangements and similar agreements existed:

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30/9/2014

 

 

 

 

 

 

 

 

(a)

(b)

(c) = (a) − (b)

(d)

(e) = (c) − (d)

 

 

 

 

 

 

Gross amounts of recognised financial assets/liabilities

Gross amounts of recognised financial liabilities/assets that are netted in the balance sheet

Net amounts of financial assets/liabilities that are shown in the balance sheet

Corresponding amounts that are not netted in the balance sheet

 

€ million

 

 

 

Financial instruments

Collateral received/provided

Net amount

1

Adjustment of previous year’s figures (see notes to the group accounting principles and methods)

Financial assets

 

 

 

 

 

 

Loans and advance credit granted

56

0

56

0

0

56

Receivables due from suppliers

2,295

6261

1,6681

2001

0

1,468

Trade receivables

661

101

560

3

0

557

Investments

18

0

18

0

0

18

Miscellaneous financial assets

628

10

618

2

0

617

Derivative financial instruments

64

15

49

2

0

47

Cash and cash equivalents

2,406

0

2,406

0

0

2,406

Receivables from finance leases

0

0

0

0

0

0

 

6,128

752

5,376

207

0

5,169

Financial liabilities

 

 

 

 

 

 

Borrowings (excl. finance leases)

5,790

0

5,790

0

0

5,790

Trade liabilities

10,790

7161

10,0751

2001

0

9,874

Miscellaneous financial liabilities

1,633

21

1,612

4

0

1,608

Derivative financial instruments

24

15

9

2

5

2

Liabilities from finance leases

1,278

0

1,278

0

0

1,278

 

19,516

752

18,764

207

5

18,552

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30/9/2015

 

 

 

 

 

 

 

 

(a)

(b)

(c) = (a) − (b)

(d)

(e) = (c) − (d)

 

 

 

 

 

 

Gross amounts of recognised financial assets/liabilities

Gross amounts of recognised financial liabilities/assets that are netted in the balance sheet

Net amounts of financial assets/liabilities that are shown in the balance sheet

Corresponding amounts that are not netted in the balance sheet

 

€ million

 

 

 

Financial instruments

Collateral received/provided

Net amount

Financial assets

 

 

 

 

 

 

Loans and advance credit granted

55

0

55

0

0

55

Receivables due from suppliers

2,307

633

1,674

154

0

1,520

Trade receivables

709

7

702

1

0

701

Investments

69

0

69

0

0

69

Miscellaneous financial assets

1,196

2

1,194

0

0

1,194

Derivative financial instruments

52

0

52

4

20

29

Cash and cash equivalents

4,415

0

4,415

0

0

4,415

Receivables from finance leases

33

0

33

0

0

33

 

8,836

642

8,194

159

20

8,016

Financial liabilities

 

 

 

 

 

 

Borrowings (excl. finance leases)

6,154

0

6,154

0

0

6,154

Trade liabilities

10,161

611

9,550

136

0

9,414

Miscellaneous financial liabilities

1,667

31

1,637

19

0

1,617

Derivative financial instruments

23

0

23

4

0

19

Liabilities from finance leases

1,213

0

1,213

0

0

1,213

 

19,218

642

18,576

159

0

18,418

The corresponding amounts that are not netted in the balance sheet include both financial instruments and collateral. The financial instruments that have not been netted could be netted based on the underlying framework agreements, but do not fulfil the netting criteria of IAS 32 (Financial Instruments: Presentation). Collateral may include both financial assets provided as collateral for liabilities to third parties and financial liabilities which METRO GROUP has received from a third party as collateral for assets.

For more information about collateral, see no. 44 – management of financial risks.