Consolidated Annual Accounts 2017

Atresmedia Corporación de Medios de Comunicación, S.A. 2017 FINANCIAL STATEMENTS 39 instruments at fair value” in the statement of profit or loss. At 31 December 2017, the Company did not have any non-current balances in this connection. 14.2 Current financial liabilities Current bank borrowings at 31 December 2017 amounted to EUR 74,328 thousand (2016: EUR 76,499 thousand). The rate of interest paid by the Company in 2017 on the loans and credit facilities arranged with banks was mainly tied to Euribor. 15.- Trade payables The statutory payment limit applicable to the Company under Law 3/2004, of 29 December, establishing measures to combat late payment in commercial transactions and the transitional provisions set out in Law 15/2010, of 5 July, was 60 days as from 2013. The following table presents the disclosures required by Additional Provision Three of Law 15/2010, of 5 July (amended by Final Provision Two of Law 31/2014, of 3 December), prepared in accordance with the Spanish Accounting and Audit Institute (ICAC) Resolution of 29 January 2016 on the disclosures to be included in notes to financial statements in relation to the average period of payment to suppliers in commercial transactions. 2017 2016 Days Days Average supplier payment period 55 55 Ratio of transactions paid 61 66 Ratio of transactions outstanding 36 22 Thousands of euros Thousands of euros Total payments made 565,771 564,926 Total payments outstanding 156,863 182,050 In accordance with the ICAC Resolution, the calculation of the average supplier payment period considered commercial transactions involving the delivery of goods and the rendering of services from the effective date of Law 31/2014, of December 3. For the sole purpose of the disclosures provided for in the Resolution, suppliers are considered to be the trade creditors for the supply of goods or services included in “Payable to suppliers” and “Payable to suppliers - Group companies and associates” under current liabilities in the balance sheet. “Average supplier payment period” is the time elapsed between the delivery of the goods or the rendering of the services by the supplier and the actual payment of the transaction.