IBERSOL Annual Report 2018

ANNUAL REPORT 2018 dec/2018 dec/2017 Swap 177.570 235.455 Derivative financial instruments 177.570 235.455 The derivatives of the Ibersol group are hedging for an interest rate swap with the purpose of covering the risk of future cash flows and are detailed as follows: Ibersol SGPS Ibersol SGPS Asurebi SGPS Initial date 19-05-2017 08-06-2017 05-09-2014 Due date 20-10-2022 14-11-2022 15-07-2019 Fixed interest rate 0,39% 0,395% 0,78% Variable interest rate Euribor 6M* Euribor 3M* Euribor 1M Amount on 31st December 2018 19.200.000 6.400.000 2.500.000 (*) with floor zero This derivative is classified as a level 2 category and its technical valuation based on a market approach (MTM). As the derivative financial instrument was not registered under hedge accounting, the change in the fair value of the derivative is reflected in income of the year (Note 27). 21. OTHER NON-CURRENT LIABILITIES On 31st December 2018 and 2017, the item “Other non-current liabilities” may be bro- ken down as follows: dec/2018 dec/2017 Other creditors (1) 150.344 179.192 Other non-current liabilities 150.344 179.192 (1) includes a value of 139.432 eur (168.280 eur in 2017) referring to the debt for the purchase of subsidiary Vidisco, S.L.. On 31 December 2018 the future (contractual) Cash Flows associated to these liabili- ties are broken down as follows: FC 2019 FC 2020 FC 2021 FC 2022 FC 2023 Other creditors 39.760 28.848 28.848 28.848 24.040 279