IBERSOL | 2019 Annual Report

Consolidated Financial Statements 20. DERIVATIVE FINANCIAL INSTRUMENT On December 31, 2019 and 2018 the detail of Ibersol derivative financial instruments is presented as follows: Dec/2019 Dec/2018 Swap 128 699 177 570 Derivative financial instruments 128 699 177 570 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 Initial date 19/05/2017 08/06/2017 Due date 20/10/2022 14/11/2022 Fixed interest rate 0.39% 0.395% Variable interest rate Euribor 6M Euribor 3M Amount on 31st December 2018 14 400 000 4 800 000 (*) 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 2019 and 2018, the item “Other non-current liabilities” may be broken down as follows: Dec/2019 Dec/2018 Other creditors (1) 6 146 150 344 Other non-current liabilities 6 146 150 344 (1) in 2019 the payment of the amount related to the debt for the purchase of the subsidiary Vidisco, S.L. due in 2023, was settled. 274