59
b)
Exchange differences
“Exchange Differences” includes the exchange differences arising from the Group's commercial
transactions, relatingmainly to the purchase of audiovisual productions in foreign currencies.
c)
Financial loss
“Financial Loss” in the consolidated income statement for 2013 includes mainly the interest
expense on bank borrowings and on the debt payable to the former shareholders of Gestora
de Inversiones Audiovisuales La Sexta, S.A. At 31 December 2013, finance costs amounted to
EUR 16,436 thousand and finance income amounted to EUR 759 thousand (31 December
2012: EUR 10,078 thousand and EUR 243 thousand, respectively).
d)
Impairment andgains or losses ondisposals of financial assets
“Impairment of Financial Assets” and “Gains (Losses) on Disposals of Financial Assets” in the
consolidated income statement include, on the one hand, the impairment losses recognised in
the year on financial assets, which were determined on the basis of an analysis of the
recoverability of these investments, including investments in companies accounted for using
the equitymethod, and, on the other hand, the net gains or losses arising from the disposal of
these assets and assets held for sale.
At 31 December 2013, the amount included under “Impairment of Financial Assets” related to
the impairment of the investment in Audiovisual Española 2000, S.A.
In 2012 the net losses on disposals of financial assets included the impact of the transfer, to
financial assets classified as held for sale, of the investments in Unipublic, S.A. and its
subsidiary Organizaciones Deportivas y Culturales de Unipublic, S.A. (Sole-Shareholder
Company) and other exclusions from the scope of consolidation (see Notes 2-b and 8).
21. Business andgeographical segments
Basis of segmentation
Segment reporting is structured on the basis of the Group's various business lines at the end
of 2013 and 2012, taking into account, on the one hand, the nature of the services provided
and, on the other, the customer segments targeted by them.
In 2013 and 2012 the Group focused its business activities on the following major business
lines in Spain:
Television
Radio
Other businesses, the most noteworthy of which are event management and
audiovisual production
