The fair values of Sodexo’s derivative financial instruments are as follows:
| DERIVATIVE FINANCIAL INSTRUMENTS (in million euros) | IFRS CLASSIFICATION | FISCAL 2022 | FISCAL 2021 |
|---|---|---|---|
| Currency instruments |
Currency instruments IFRS CLASSIFICATION
|
Currency instruments FISCAL 2022(4) |
Currency instruments FISCAL 20212 |
| Assets |
Assets IFRS CLASSIFICATIONTrading |
Assets FISCAL 20221 |
Assets FISCAL 20216 |
| Liabilities |
Liabilities IFRS CLASSIFICATIONTrading |
Liabilities FISCAL 2022(5) |
Liabilities FISCAL 2021(4) |
|
Interest instruments* |
Interest instruments* IFRS CLASSIFICATION
|
Interest instruments* FISCAL 2022(29) |
Interest instruments* FISCAL 202111 |
| Assets |
Assets IFRS CLASSIFICATIONFair value hedge |
Assets FISCAL 20221 |
Assets FISCAL 202111 |
| Liabilities |
Liabilities IFRS CLASSIFICATIONFair value hedge |
Liabilities FISCAL 2022(30) |
Liabilities FISCAL 2021— |
| NET DERIVATIVE FINANCIAL INSTRUMENTS |
NET DERIVATIVE FINANCIAL INSTRUMENTSIFRS CLASSIFICATION
|
NET DERIVATIVE FINANCIAL INSTRUMENTSFISCAL 2022(33) | NET DERIVATIVE FINANCIAL INSTRUMENTSFISCAL 202113 |
*Correspond to the floating-rate swaps on fixed-rate bonds issued by Sodexo, Inc. described in note 12.4.2.
The face value and fair value of currency instruments and cross-currency swaps are as follows by maturity:
| FISCAL 2022 | FISCAL 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| (in million euros) | LESS THAN 1 YEAR | 5 YEARS | MORE THAN 5 YEARS | TOTAL | LESS THAN 1 YEAR | 1 TO 5 YEARS | MORE THAN 5 YEARS | TOTAL |
| Currency lender positions | 176 | 18 | 8 | 202 | 45 | 8 | 1 | 54 |
| Canadian Dollar/Euro | 142 | — | — | 142 | — | — | — | — |
| Czech crown/Euro | 16 | — | — | 16 | — | — | — | — |
| Polish zloty/Euro | 14 | — | — | 14 | 9 | — | — | 9 |
| Other | 4 | 18 | 8 | 30 | 36 | 8 | 1 | 45 |
| Currency borrower positions | (42) | (29) | (56) | (127) | (374) | (10) | (10) | (394) |
| Pound Sterling/Euro | — | (7) | (56) | (63) | — | — | — | — |
| Brazilian real/Euro | — | — | — | — | — | — | — | — |
| Dollar/Euro | — | — | — | — | (302) | — | — | (302) |
| Other | (42) | (22) | — | (64) | (72) | (10) | (10) | (92) |
| TOTAL FACE VALUE | 134 | (11) | (48) | 75 | (329) | (1) | (9) | (340) |
| Fair value | (1) | (1) | (31) | (33) | 17 | (4) | — | 13 |
The face value represents the nominal value of currency hedging instruments, including amounts related to forward agreements. Foreign currency amounts are translated at year-end closing rates.
The table below presents the categories of financial instruments, their carrying amount and their fair value, by item in the consolidated statement of financial position.
The fair value hierarchy used in classifying financial instruments is provided for in IFRS 13 “Fair value measurement” as defined in note 2.3.
| FISCAL 2022 | FAIR VALUE LEVEL | |||||||
|---|---|---|---|---|---|---|---|---|
| FINANCIAL ASSETS (in million euros) | CATEGORY | NOTE | CARRYING AMOUNT | FAIR VALUE | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL |
| Marketable securities | Financial assets at fair value through profit or loss | 12.2 | 524 | 524 | 21 | 503 | — | 524 |
| Restricted cash and financial assets related to the Benefits & Rewards Services activity | Financial assets at amortized cost | 12.3 | 960 | 960 | — | — | — | — |
| Cash and cash equivalents | 12.3 | 297 | 297 | 297 | — | — | 297 | |
| Trade and other receivables | Financial assets at amortized cost | 4.3 | 5,068 | 5,068 | — | — | — | — |
| Other financial assets | Financial assets at fair value through other comprehensive income | 12.3 | 863 | 863 | — | — | 863 | 863 |
| Financial assets at amortized cost | 12.3 | 154 | 154 | — | — | — | — | |
| Financial assets at fair value through profit or loss | 12.3 | 62 | 62 | — | 62 | 62 | ||
| Derivative financial instrument assets | Derivative financial instrument | 12.5 | 2 | 2 | — | 2 | — | 2 |
