Consolidated Annual Accounts 2017

Atresmedia Corporación de Medios de Comunicación, S.A. and Subsidiaries Translation of consolidated financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Group in Spain (see Notes 2 and 29). In the event of discrepancy, the Spanish-language version prevails. 2017 CONSOLIDATED FINANCIAL STATEMENTS 49 The sensitivity analysis of the balances payable to suppliers in USD, shows that changes of +/-10% in the USD/EUR exchange rate prevailing at year-end would give rise to changes in the fair value recognised of around EUR +/-10.0 million, and would be sufficiently offset by the changes in the value of the derivatives entered into. In 2016, changes of +/-10% in the exchange rate prevailing at year-end would give rise to changes in fair value within a range of EUR +/-13.6 million for hedges whose underlying was in force at year-end and changes of EUR +/-5.3 million for hedges whose underlying not yet in force and therefore affected equity. Financial instruments measured at fair value must be classified into Levels 1 to 3, based on the degree to which their fair value is observable (inputs). Level 1 inputs are quoted prices in active markets. Level 2 inputs are from external data other than quoted prices. Level 3 inputs are values obtained from valuation techniques that include unobservable inputs in active markets. The Group's derivatives detailed in this item would be classified as Level 2, since they are observable inputs that refer to market data. Interest rate hedges In July 2017, the Parent entered into interest rate swaps (IRS) in order to fix the finance cost arising from the variable rates applicable to each of the tranches of the syndicated financing arranged at that date. These IRSs expire in July 2022 and the hedged amount is EUR 157,500 thousand, with an average weighted fixed interest rate of 0.466%. Their fair value at 31 December 2017 was EUR 1,164 thousand, recognised as a non-current financial liability. The fair value of the IRSs at 31 December 2016 related to the syndicated financing arranged at the date was recognised as a financial liability, for EUR 1,927 thousand. This derivative would be included in Level 2. In 2017, no transfers were made between the fair value hierarchy levels corresponding to the Group's derivative financial instruments. 16. Trade and other payables Trade and other payables in the consolidated balance sheets at 31 December 2017 and 2016: Thousands of euros 2017 2016 Payable to suppliers 375,223 375,946 Payable to associates and related parties (Note 23) 46,924 56,182 Total payables to suppliers 422,147 432,128 Other tax payable (Note 22.d) 36,773 17,075 Other non-trade payables 14,323 17,980 Advances from customers 3,877 1,450 Total other payables 54,973 36,505