XML 88 R74.htm IDEA: XBRL DOCUMENT v3.20.1

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Financial Instruments

Schedule of financial instruments by nature, category and fair value

Disclosure of financial instruments by nature, category and fair value is as follows:

		Thousand of Euros
		31/12/2018
		Carrying amount												Fair Value
		Financial assets		Financial assets		Financial		Financial		Other
		at amortised		at FV to		assets at FV		liabilitites at		financial
		costs		profit or loss		to OCI		amortised costs		liabilities		Total		Level 1		Level 2		Level 3		Total
Non-current financial assets		—		7		—		—		—		7		7		—		—		7
Current Financial derivatives		—		19,934		—		—		—		19,934		—		—		19,934		19,934
Trade receivables				—		198,010		—		—		198,010		—		198,010		—		198,010
Financial assets measured at fair value		—		19,941		198,010		—		—		217,951
Non-current financial assets		107,594		—		—		—		—		107,594
Other current financial assets		34,031		—		—		—		—		34,031
Trade and other receivables		163,575		—		—		—		—		163,575
Cash and cash equivalents		1,033,792		—		—		—		—		1,033,792
Financial assets not measured at fair value		1,338,992		—		—		—		—		1,338,992
Senior Unsecured Notes		—		—		—		(1,005,333)		—		(1,005,333)		(985,480)		—		—		(985,480)
Promissory Notes		—		—		—		(97,645)		—		(97,645)
Senior secured debt		—		—		—		(4,901,240)		—		(4,901,240)		—		(5,055,323)		—		(5,055,323)
Other bank loans		—		—		—		(264,525)		—		(264,525)
Finance lease payables		—		—		—		(12,885)		—		(12,885)
Other financial liabilities		—		—		—		(95,217)		—		(95,217)
Debts with associates		—		—		—		(7,079)		—		(7,079)
Other non-current debts		—		—		—		—		(1,301)		(1,301)
Trade and other payables		—		—		—		(721,699)		—		(721,699)
Other current liabilities		—		—		—		—		(169,189)		(169,189)
Financial liabilities not measured at fair value		—		—		—		(7,105,623)		(170,490)		(7,276,113)
		1,338,992		19,941		198,010		(7,105,623)		(170,490)		(5,719,170)

The Group does not provide details of the fair value of certain financial instruments as their carrying amount is very similar to their fair value because of its short term.

		Thousand of Euros
		31/12/2019
		Carrying amount												Fair Value
		Financial assets		Financial assets		Financial		Financial		Other
		at amortised		at FV to		assets at FV		liabilities at		financial
		costs		profit or loss		to OCI		amortised costs		liabilities		Total		Level 1		Level 2		Level 3		Total
Non-current financial assets		—		7		—		—		—		7		7		—		—		7
Other current financial assets		—		1,716,738		—		—		—		1,716,738		—		—		1,716,738		1,716,738
Trade receivables		—		—		298,346		—		—		298,346		—		298,346		—		298,346
Financial assets measured at fair value		—		1,716,745		298,346		—		—		2,015,091
Non-current financial assets		138,923		—		—		—		—		138,923
Other current financial assets		12,188		—		—		—		—		12,188
Trade and other receivables		153,960		—		—		—		—		153,960
Cash and cash equivalents		741,982		—		—		—		—		741,982
Financial assets not measured at fair value		1,047,053						—		—		1,047,053
Senior Unsecured & Secured Notes		—		—		—		(2,576,935)		—		(2,576,935)		(2,749,557)		—		—		(2,749,557)
Promissory Notes		—		—		—		(100,267)		—		(100,267)
Senior secured debt		—		—		—		(3,286,889)		—		(3,286,889)		—		(3,623,233)		—		(3,623,233)
Other bank loans		—		—		—		(400,850)		—		(400,850)
Lease liabilities		—		—		—		(740,690)		—		(740,690)
Other financial liabilities		—		—		—		(101,749)		—		(101,749)
Debts with associates		—		—		—		(1,258)		—		(1,258)
Other non-current debts		—		—		—		—		(983)		(983)
Trade and other payables		—		—		—		(747,514)		—		(747,514)
Other current liabilities		—		—		—		—		(197,399)		(197,399)
Financial liabilities not measured at fair value		—		—		—		(7,956,152)		(198,382)		(8,154,534)
		1,047,053		1,716,745		298,346		(7,956,152)		(198,382)		(5,092,390)

Schedule of financial derivatives

Notional

Notional

Thousands of Euros

amount at

amount at

Value at

Value at

Financial derivatives

Currency

31/12/2019

31/12/2018

31/12/19

31/12/18

Maturity

Call Option (Interstate Blood Bank,Inc., Bio-Blood Components, Inc and Plasma Biological Services, LLC)

US Dollar

N/A

N/A

—

8,733

30/04/2019

Call Option (ADMA Centers)

US Dollar

N/A

N/A

—

11,201

01/01/2019

Total  Assets

—

19,934

Schedule of exposure to credit risk

The carrying amount of financial assets represents the maximum exposure to credit risk. At 31 December 2019 and 2018 the maximum level of exposure to credit risk is as follows:

				Thousands of Euros
Carrying amount		Note		31/12/2019		31/12/2018
Non-current financial assets		12		138,930		107,601
Other current financial assets		12		1,728,926		53,965
Trade receivables		14		369,797		269,167
Other receivables		14		29,267		45,327
Cash and cash equivalents		15		741,982		1,033,792
				3,008,902		1,509,852

The maximum level of exposure to risk associated with receivables at 31 December 2019 and 2018, by geographical area, is as follows.

		Thousands of Euros
Carrying amount		31/12/2019		31/12/2018
Spain		58,363		46,025
EU countries		44,887		48,354
United States of America		171,345		79,829
Other European countries		13,485		14,289
Other regions		110,984		125,997
		399,064		314,494

Schedule of trade receivables net of the bad debt provision by seniority

A breakdown of the trade and other receivables net of the bad debt provision by ageing as of 31 December 2018 is as follows:

		Thousands of Euros
								Total net trade
				Total gross carrying				receivable third
		ECL Rate		amount		Provision		party
Not matured		0.19	%	180,448		(335)		180,113
Past due 0-30 days		0.19	%	52,310		(92)		52,218
Past due 31-60 days		0.62	%	11,125		(67)		11,058
Past due 61-90 days		2.03	%	10,729		(208)		10,521
Past due 91-180 days		3.01	%	12,158		(353)		11,805
Past due 181-365 days		8.52	%	4,158		(1,222)		2,936
More than one year		100.00	%	7,549		(7,033)		516
Customers with objective evidence of impairment				11,221		(11,221)		—
				289,698		(20,531)		269,167

A breakdown of the trade and other receivables net of the bad debt provision by seniority as of December 31, 2019 is as follows:

		Thousands of Euros
								Total net trade
				Total gross carrying				receivable third
		ECL Rate		amount		Provision		party
Not matured		0.19	%	285,942		(585)		285,357
Past due 0-30 days		0.19	%	48,212		(57)		48,155
Past due 31-60 days		0.62	%	15,831		(101)		15,730
Past due 61-90 days		2.03	%	10,364		(156)		10,208
Past due 91-180 days		3.01	%	8,606		(243)		8,363
Past due 181-365 days		8.52	%	2,216		(232)		1,984
More than one year		100.00	%	3,056		(3,056)		—
Customers with objective evidence of impairment				17,861		(17,861)		—
				392,088		(22,291)		369,797

Schedule of movement in the bad debt provision

		Thousands of Euros
		31/12/2019		31/12/2018		31/12/2017
Opening balance		20,531		19,706		17,987
Net charges for the year		4,971		6,443		8,003
Net cancellations for the year		(3,142)		(5,650)		(4,732)
Transfers		(19)		—		—
Translation differences		(50)		32		(1,552)
Closing balance		22,291		20,531		19,706

Schedule of contractual maturity dates of financial liabilities

				Thousands of Euros
				Carrying
				amount at		Contractual		6 months		6 - 12		1-2		2 - 5		More than
Carrying amount		Note		31/12/18		flows		or less		months		years		years		5 years
Financial liabilities
Bank loans		21		5,165,765		6,522,083		195,568		202,437		522,040		3,086,734		2,515,304
Other financial liabilities		21		95,217		95,218		14,167		2,095		21,324		55,863		1,769
Bonds and other marketable securities		21		1,102,978		1,305,645		113,645		16,000		32,000		128,000		1,016,000
Finance lease payables		21		12,885		13,423		1,946		1,630		3,367		5,655		825
Debts with associates		31		7,079		7,079		—		7,079		—		—		—
Payable to suppliers		22		561,883		561,884		561,559		325		—		—		—
Other current liabilities		23		16,029		16,028		15,861		167		—		—		—
Total				6,961,836		8,521,360		902,746		229,733		578,731		3,276,252		3,533,898

				Thousands of Euros
				Carrying
				amount at		Contractual		6 months		6 - 12		1-2		2 - 5		More than
Carrying amount		Note		31/12/19		flows		or less		months		years		years		5 years
Financial liabilities
Bank loans		21		3,687,739		4,826,286		204,851		100,083		183,525		715,443		3,622,384
Other financial liabilities		21		101,749		101,749		21,000		20,708		50,646		7,416		1,979
Bonds and other marketable securities		21		2,677,202		3,167,075		128,606		32,016		64,031		2,137,772		804,650
Lease liabilities		21		740,690		740,690		22,335		22,131		41,444		155,300		499,480
Debts with associates		31		1,258		1,258		—		1,258		—		—		—
Payable to suppliers		22		581,882		581,882		581,867		15		—		—		—
Other current liabilities		23		22,320		22,320		21,612		708		—		—		—
Total				7,812,840		9,441,260		980,271		176,919		339,646		3,015,931		4,928,493

Schedule of Group's exposure to currency risk

The Group’s exposure to currency risk is as follows:

		Thousands of Euros
		31/12/2018
		Euros (*)		Dollars (**)
Trade receivables		2,691		45,801
Receivables from Group companies		54,903		6,291
Loans to Group companies		40,387		4,343
Cash and cash equivalents		120,281		1,296
Trade payables		(13,354)		(6,113)
Payables to Group companies		(60,363)		(63,932)
Loans from Group companies		(94,771)		(4,336)
Bank loans		(74,375)		—
Balance sheet exposure		(24,601)		(16,650)

(*)   Balances in Euros in subsidiaries with US Dollars functional currency

(**) Balances in US Dollars in subsidiaries with Euros functional currency

		Thousands of Euros
		31/12/2019
		Euros (*)		Dollars (**)
Trade receivables		4,978		29,022
Receivables from Group companies		101,685		3,829
Loans to Group companies		16,053		595
Cash and cash equivalents		(8,603)		1,698
Trade payables		(18,908)		(13,826)
Payables to Group companies		(75,435)		(93,713)
Loans from Group companies		(42,388)		(4,151)
Bank loans		(63,750)		—
Balance sheet exposure		(86,368)		(76,546)

(*) Balances in Euros in subsidiaries with US Dollars functional currency

(**) Balances in US Dollars in subsidiaries with Euros functional currency

The most significant exchange rates applied at 2019 and 2018 year ends are as follows:

		Closing exchange rate
Euros		31/12/2019		31/12/2018
US Dollars		1.1225		1.1450

Schedule of profile of interest on interest-bearing financial instruments

		Thousands of Euros
		31/12/2019		31/12/2018
Fixed-interest financial instruments
Financial liabilities		(2,908,750)		(1,244,375)
		(2,908,750)		(1,244,375)
Variable-interest financial instruments
Financial liabilities		(3,587,171)		(5,233,638)
		(3,587,171)		(5,233,638)
		(6,495,921)		(6,478,013)

X

- Definition

The disclosure of a maturity analysis of trade receivables, advances for fixed assets and other advances and other receivables not separately disclosed in the same statement or note.

+ References

No definition available.

+ Details

Name:	grfs_DisclosureOfMaturityAnalysisOfTradeReceivablesAdvancesAndOtherReceivablesNetTableTextBlock
Namespace Prefix:	grfs_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of the currency risk exposure.

+ References

No definition available.

+ Details

Name:	grfs_ScheduleOfCurrencyRiskExposureTableTextBlock
Namespace Prefix:	grfs_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of the credit risk exposure. Credit risk exposure is the credit risk inherent in an entity’s financial assets and commitments to extend credit.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2019-01-01
-Paragraph 35M
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_35M&doctype=Standard
-URIDate 2019-03-27

+ Details

Name:	ifrs-full_DisclosureOfCreditRiskExposureExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of derivative financial instruments. [Refer: Derivatives [member]]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 10
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_10_e&doctype=Standard
-URIDate 2019-03-27

+ Details

Name:	ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of detailed information about financial instruments. [Refer: Financial instruments, class [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2019-01-01
-Paragraph 31
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_31&doctype=Standard
-URIDate 2019-03-27

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2019-01-01
-Paragraph 7
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_7&doctype=Standard
-URIDate 2019-03-27

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2019-01-01
-Paragraph 35K
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_35K&doctype=Standard
-URIDate 2019-03-27

+ Details

Name:	ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	ifrs-full_DisclosureOfFinancialInstrumentsAbstract
Namespace Prefix:	ifrs-full_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of financial instruments by type of interest rate. [Refer: Financial instruments, class [member]]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name IFRS
-Number 7
-IssueDate 2019-01-01
-Paragraph 39
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_39&doctype=Standard
-URIDate 2019-03-27

+ Details

Name:	ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of liquidity risk. [Refer: Liquidity risk [member]]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 10
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_10_e&doctype=Standard
-URIDate 2019-03-27

+ Details

Name:	ifrs-full_DisclosureOfLiquidityRiskExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of the reconciliation of changes in the loss allowance and explanation of changes in the gross carrying amount for financial instruments. Loss allowance is the allowance for expected credit losses on financial assets measured in accordance with paragraph 4.1.2 of IFRS 9, lease receivables and contract assets, the accumulated impairment amount for financial assets measured in accordance with paragraph 4.1.2A of IFRS 9 and the provision for expected credit losses on loan commitments and financial guarantee contracts. [Refer: Gross carrying amount [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2019-01-01
-Paragraph 35H
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_35H&doctype=Standard
-URIDate 2019-03-27

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2019-01-01
-Paragraph 35I
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_35I&doctype=Standard
-URIDate 2019-03-27

+ Details

Name:	ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration