XML 49 R52.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CURRENT FINANCIAL ASSETS AND OTHER FINANCIAL LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2019
Financial Instruments [Abstract]  
Disclosure of financial assets
 
At December 31,
 
2019
 
2018
 
(€ thousand)
Financial derivatives
9,423

 
6,788

Other financial assets
1,986

 
3,386

Current financial assets
11,409

 
10,174
Disclosure of derivative financial instruments
The following table sets further the analysis of derivative assets and liabilities at December 31, 2019 and 2018.
 
At December 31,
 
2019
 
2018
 
Positive fair
value  
 
Negative fair
value
 
Positive fair
value
 
Negative fair
value
 
(€ thousand)
Cash flow hedge:
 
 
 
 
 
 
 
Foreign currency derivatives
8,039

 
(14,547
)
 
3,240

 
(10,853
)
Interest rate caps
87

 
—

 
555

 
—

Total cash flow hedges
8,126

 
(14,547
)
 
3,795

 
(10,853
)
Other foreign currency derivatives
1,294

 
(244
)
 
1,023

 
(489
)
Interest rate caps
3


—


1,970


—

Total
9,423

 
(14,791
)
 
6,788

 
(11,342
)
Foreign currency derivatives which do not meet the requirements to be recognized as cash flow hedges are presented as other foreign currency derivatives. Interest rate caps relate to derivative instruments required as part of certain of the funding from securitization programs.
The following tables provide an analysis by foreign currency of outstanding derivative financial instruments based on their fair value and notional amounts:
 
At December 31, 2019
 
At December 31, 2018
 
Fair Value
 
Notional Amount
 
Fair Value
 
Notional Amount
 
(€ thousand)
Currencies:
 
 
 
 
 
 
 
U.S. Dollar
2,826

 
1,338,800

 
(1,324
)
 
487,336

Pound Sterling
(4,639
)
 
175,247

 
613

 
138,609

Japanese Yen
923

 
272,183

 
(2,901
)
 
113,596

Swiss Franc
(1,716
)
 
87,632

 
(1,182
)
 
64,229

Chinese Yuan
55

 
57,094

 
(82
)
 
45,434

Other(1)
(2,817
)
 
106,491

 
322

 
116,476

Total amount
(5,368
)
 
2,037,447

 
(4,554
)
 
965,680

______________________________
(1)    Other mainly includes the Australian Dollar, the Hong Kong Dollar and the Canadian Dollar.
Disclosure of reclassified gain/loss from other comprehensive income/(loss) to the consolidated income statement
The Group reclassified gains and losses, net of the tax effect, from other comprehensive income/(loss) to the consolidated income statement as follows:
 
For the years ended December 31,
 
2019
 
2018
 
2017
 
(€ thousand)
Net (costs)/revenues
(22,055
)
 
3,777

 
19,724

Income tax benefit/(expense)
6,153

 
(1,054
)
 
(5,503
)
Total recognized in the consolidated income statement
(15,902
)
 
2,723

 
14,221