Reebok 2015 Annual Report Download - page 217

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213
4
CONSOLIDATED FINANCIAL STATEMENTS
Notes – Notes to the Consolidated Statement of Financial Position
According to IAS 32 ‘Financial Instruments: Presentation’, the conversion right represented in the
convertible bond constitutes a financial instrument which is covered in the capital reserve in an amount of
€ 55 million after deduction of the issuance cost. The initial liability component amounted to € 441 million
after deduction of the issuance cost and is shown within long-term borrowings. The initial difference
of € 59 million compared to the nominal amount of € 500 million is accrued as interest expense of the
financial liability over the expected maturity of the convertible bond using the ‘effective interest method’.
As at December 31, 2015, the financial liability amounted to € 483 million.
GROSS BORROWINGSASAT DECEMBER 31, 2014
€ in millions Up to
1 year
Between
1 and 3 years
Between
3 and 5 years
More than
5 years
Total
Bank borrowings incl.
commercial paper 194 – – – 194
Private placements 95 123 – – 218
Eurobond – – – 990 990
Convertible bond – 471 – – 471
Total 288 594 –990 1,873
The above table includes a private placement which was repaid on July 1, 2015.
For further details on future cash outflows SEE RISK AND OPPORTUNITY REPORT, P. 156.
Other current financial liabilities consist of the following:
OTHER CURRENT FINANCIAL LIABILITIES
€ in millions Dec. 31, 2015 Dec. 31, 2014
Currency options 2 0
Forward exchange contracts 59 50
Commodity futures – 3
Finance lease obligations 3 3
Sundry 79 35
Other current financial liabilities 143 91
The increase in the line item ‘Sundry’ mainly relates to purchase price obligations for non-controlling
interests. For further information about currency options, forward exchange contracts and commodity
futures SEE NOTE 29. For information about finance lease obligations SEE NOTE 28.
Other provisions consist of the following:
OTHER PROVISIONS
€ in millions Jan. 1,
2015
Currency
translation
differences
Usage Reversals Additions Transfers Dec. 31,
2015
Thereof
non-
current
Marketing 79 0 (77) (0) 20 – 21 –
Personnel 48 2 (31) (2) 44 (2) 59 5
Returns, allowances and
warranty 200 6 (145) (2) 141 (12) 189 –
Taxes, other than income taxes 27 0 (7) (0) 9 – 29 0
Sundry 154 (1) (46) (22) 122 – 207 45
Other provisions 508 7(305) (26) 337 (14) 506 50
19
OTHER CURRENT
FINANCIAL
LIABILITIES
20
OTHER PROVISIONS