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Note 14, Derivative financial instruments, refers to the sensitivity analysis of the balances
payable to suppliers in US dollars in relation to changes in the exchange rate at year-end.
Set forth below are the disclosures required by Additional Provision Three of Law 15/2010, of
5 July (amended by Final Provision Two of Law 31/2014, of 3 December), prepared in
accordance with the Spanish Accounting and Audit Institute (ICAC) Resolution of 29 January
2016 on the disclosures to be included in notes to financial statements in relation to the
average period of payment to suppliers in commercial transactions.
As provided for in the Single Additional Provision of the aforementioned ruling, no
comparative information is presented since this year is the first in which it is applicable.
2015
Days
Average period of payment to suppliers
76
Ratio of transactions settled
86
Ratio of transactions not yet settled
39
Thousands
of euros
Total payments made
614,873
Total payments outstanding
159,282
In accordance with the ICAC Resolution, the average period of payment to suppliers was
calculated by taking into account the commercial transactions relating to the supply of goods
or services for which payment has accrued since the date of entry into force of Law 31/2014,
of 3 December.
For the sole purpose of the disclosures provided for in the Resolution, suppliers are
considered to be the trade creditors for the supply of goods or services included in “Payable
to Suppliers” and “Payable to Suppliers - Payable to Associates and Related Parties” under
current liabilities in the consolidated balance sheet.
“Average period of payment to suppliers” is taken to be the period that elapses from the
delivery of the goods or the provision of the services by the supplier to the effective payment
of the transaction.
16. Other guarantee commitments to third parties and contingent assets and liabilities
a)
Guarantee commitments to third parties
The detail of the guarantees provided by the Group to banks for third- and related parties is
as follows:
Thousands of euros
2015
2014
Group companies and associates
1,510
2,641
Other guarantees
17,505
10,985
Total
19,015
13,626
The Parent’s directors consider that any liabilities not foreseen at 31 December 2015 that
might arise from the guarantees provided would not be material.