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adidas Group
2011 Annual Report
CONSOLIDATED FINANCIAL STATEMENTS
193
2011
193
2011
04.8 Notes Notes to the Consolidated Statement of Financial Position
The amounts disclosed as gross borrowings represent outstanding
borrowings under the following arrangements with aggregated expir-
ation dates as follows:
Gross borrowings as at December 31, 2011 (€ in millions)
Up to
1 year
Between
1 and 3
years
Between
3 and 5
years
After
5 years
Total
Bank borrowings 126 – – – 126
Private placements 163 281 211 – 655
Eurobond – 499 – – 499
Total 289 780 211 – 1,280
In 2011, two floating rate private placements with an original maturity
in 2012 and 2014, respectively, and in a total amount of € 104 million
were bought back at par.
Gross borrowings as at December 31, 2010 (€ in millions)
Up to
1 year
Between
1 and 3
years
Between
3 and 5
years
After
5 years
Total
Bank borrowings – 95 – – 95
Private placements 273 419 213 112 1,017
Eurobond – – 498 – 498
Total 273 514 711 112 1,610
In 2010, bank borrowings with short-term maturities were classi-
fied as long-term borrowings as they represented permanent funding
volumes that were covered by the committed mid-term syndicated
loan, which ends in 2012.
For further details on future cash outflows
SEE RISK AND OPPORTUNITY
REPORT, P. 145
.
18 Other current financial liabilities
Other current financial liabilities consist of the following:
Other current financial liabilities (€ in millions)
Dec. 31, 2011 Dec. 31, 2010
Interest rate derivatives 4 1
Currency options 6 10
Forward contracts 22 85
Finance lease obligations 3 2
Other financial liabilities 21 25
Other current financial liabilities 56 123
Information regarding interest rate derivatives, currency options and
forward contracts is also included in these Notes
SEE NOTE 28
. For
information regarding finance lease obligations
SEE NOTE 27
.