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ANNUAL
REPORT
2018

9.1. Categories and classes of financial instruments according to IFRS 9

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The comparison of financial assets and liabilities as at the date of first application of IFRS 9, i.e. as at 1 January 2018 is presented in Note 2.6.

The following tables present information on categories and classes of financial instruments.

Financial assets according to IFRS 9:

Financial instrument classes Note Financial instrument categories TOTAL
Amortized cost Fair value settled through the financial result Hedging instruments
AS AT 31 DECEMBER 2018
Interests in other entities 0.1 0.1
Trade receivables 7.8 976.9 976.9
gross value 1,056.5 1,056.5
impairment losses (79.6) (79.6)
Bank term deposits 7.6, 7.9 10.6 10.6
gross value 10.6 10.6
Covered bonds 7.5 183.4 183.4
gross value 183.4 183.4
Debt securities 7.5 644.0 644.0
gross value 644.0 644.0
Deposits 7.5 701.0 701.0
gross value 701.0 701.0
Cash and cash equivalents in FIZ 7.5 304.2 304.2
gross value 304.2 304.2
Cash and cash equivalents * 7.6, 7.9 1,979.9 1,979.9
gross value 1,980.2 1,980.2
impairment losses (0.3) (0.3)
Derivatives 9.4 1.9 5.3 7.2
TOTAL 3,972.6 829.4 5.3 4,807.3

*This item also includes funds accumulated to finance the decommissioning of a mine (Cash and cash equivalents of the Mine Closure Fund) – Note 7.6.

None of the significant financial assets that were not overdue were renegotiated during the last year.

Financial assets according to IAS 39:

Financial instrument classes Note Financial instrument categories Total
Financial assets at fair value through profit or loss Financial assets available for sale Loans and receivables Hedging instruments
AS AT 31 DECEMBER 2017
Ownership interest and shares not listed on a stock exchange 0.1 0.1
Trade receivables 7.8 688.1 688.1
Receivables by virtue of the acquisition of investment certificates 7.8 1,450.0 1,450.0
Bank term deposits 10.4 10.4
Cash and cash equivalents * 7.9, 7.6 1,480.4 1,480.4
Derivatives 9.4 5.5 8.3 13.8
TOTAL 1,455.5 0.1 2,178.9 8.3 3,642.8

* This item also includes funds accumulated to finance the decommissioning of a mine (Cash and cash equivalents of the Mine Closure Fund) – Note 7.6.

Financial liabilities according to IFRS 9:

Financial instrument classes Note Financial instrument categories Total
Amortized cost Financial liabilities measured
at fair value through profit or loss
Hedging instruments
AS AT 31 DECEMBER 2018
Derivatives 5.6 0.4 6.0
FIZ derivatives – interest rate swap (IRS) in PLN) 7.5 6.5 6.5
Loans and borrowings 6.1 70.0 70.0
Liabilities under debt securities issued 6.2 121.0 121.0
Finance lease liabilities 40.3 40.3
Trade liabilities and other financial liabilities 7.13 1,971.5 1,971.5
TOTAL 2,209.3 5.6 0.4 2,215.3

*Pozycja obejmuje również środki zgromadzone w celu finansowania likwidacji zakładu górniczego (Środki pieniężne i ich ekwiwalenty FLZG) – Nota 7.6.

Financial liabilities according to IAS 39:

Financial instrument classes Note Financial instrument categories Total
Financial liabilities measured
at fair value through profit or loss
Financial liabilities measured at amortized cost Hedging instruments Financial liabilities excluded from
IAS 39
AS AT 31 DECEMBER 2017
Loans and borrowings 6.1 122.2 122.2
Liabilities under debt securities issued 6.2 856.0 856.0
Finance lease liabilities 6.3 66.8 66.8
Trade liabilities and other financial liabilities 7.13 1,409.6 1,409.6
TOTAL 2,387.8 66.8 2,454.6

As at 31 December 2018 and as at 31 December 2017, the fair value of financial assets and liabilities measured at amortized cost did not differ significantly from their carrying amounts.

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