106 / 140
24
8.- Financial assets (non-current and current)
8.1 Non-current financial assets
The detail of “Non-Current Financial Assets” at the end of 2015 and 2014 is as follows (in
thousands of euros):
2015
2014
Held-for-trading financial assets:
Hedging derivatives (Note 10)
2,770
4,397
Other derivatives
-
87
Available-for-sale financial assets:
At cost (Note 19.2)
11,531
5,956
Loans and receivables:
Long-term guarantees and deposits
118
75
Total
14,419
10,515
In relation to “Other Derivatives”, in December 2012 the Company entered into several
agreements with the former shareholders of Gestora de Inversiones Audiovisuales La Sexta, S.A.,
including one whereby, in exchange for a fixed market consideration determined at the date of the
agreement and deliverable by Atresmedia Corporación de Medios de Comunicación, S.A.
(premium), the aforementioned counterparty undertook to pay the Company a variable cash
amount to be determined on the basis of the future economic results of Atresmedia and payable in
2017.
On 24 February 2014, as a result of the negotiation process for the novation agreement described
in Note 12.2 and forming part thereof, other agreements were reached with Gamp Audiovisual,
S.A. and Imagina Media Audiovisual, S.L. consisting of the cancellation of their proportional share
of the financial derivative agreement. At 31 December 2014, the balance included the fair value at
that date of the derivative financial instrument arranged with Gala Desarrollos Comerciales, S.L.,
the terms and conditions of which are unchanged, as indicated in Note 12.2.
"Available-For-Sale Financial Assets" includes non-current financial investments in the equity
instruments of companies over which the Company does not exercise significant influence under
Rule for the Preparation of Financial Statements no. 13 since it does not participate in the process
to set financial or commercial policies. The increase in this heading relates to the Company's
strategy to diversify the avenues for growth other than advertising income, by means of
investments using the model whereby the broadcasting of advertising is exchanged for an
ownership interest in a company. Noteworthy among the companies in which such investments
have been made are Eshop Venture, S.L. and Kzemos Technologies, S.L. (see Note 19.2).
8.2 Current financial assets
The detail of “Current Financial Assets” at the end of 2015 and 2014 is as follows (in thousands of
euros):
2015
2014
Derivatives:
Derivatives (Note 10)
13,112
11,740
Available-for-sale financial assets:
At cost (Note 19.2)
260
2,211