Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Summary of Financial Assets and Liabilities by Categories

21.1 Financial assets and liabilities by categories


			At December 31, 2017								At December 31, 2016
*(in millions of Euros)*	Notes		Loans and receivables		At Fair Value through Profit and loss		At Fair Value through OCI		Total		Loans and receivables		At Fair Value through Profit and loss		At Fair Value through OCI		Total
Cash and cash equivalents		12		269		—		—		269		347		—		—		347
Trade receivables and Finance Lease receivables		13		318		—		—		318		253		—		—		253
Other financial assets				83		77		19		179		66		100		—		166

Total financial assets				670		77		19		766		666		100		—		766


			At December 31, 2017								At December 31, 2016
*(in millions of Euros)*	Notes		At amortized cost		At Fair Value through Profit and loss		At Fair Value through OCI		Total		At amortized cost		At Fair Value through Profit and loss		At Fair Value through OCI		Total
Trade payables and fixed assets payables		19		744		—		—		744		660		—		—		660
Borrowings		20		2,127		—		—		2,127		2,468		—		—		2,468
Other financial liabilities				—		66		—		66		—		37		27		64

Total financial liabilities				2,871		66		—		2,937		3,128		37		27		3,192

Summary of Other Financial Assets and Other Financial Liabilities Positions

The table below details other financial assets and other financial liabilities positions:


	At December 31, 2017						At December 31, 2016
*(in millions of Euros)*	Non-current		Current		Total		Non-current		Current		Total
Derivatives		29		67		96		49		51		100
Aluminium and premium future contract		6		39		45		—		6		6
Energy future contract		—		—		—		—		4		4
Other future contract		—		1		1		—		—		—
Currency commercial contracts		21		20		41		2		11		13
Currency net debt derivatives		2		7		9		47		30		77
Loans ^(A)		81		2		83		—		66		66

Other financial assets		110		69		179		49		117		166

Derivatives		43		23		66		30		34		64
Aluminium and premium future contract		—		6		6		4		5		9
Energy future contract		—		—		—		—		—		—
Other future contract		—		1		1		—		2		2
Currency commercial contracts		6		12		18		26		27		53
Currency net debt derivatives		37		4		41		—		—		—

Other financial liabilities		43		23		66		30		34		64

(A)	Corresponds to a loan facility to Constellium UACJ ABS LLC (See NOTE 17 – Investments accounted for under the equity method)

Summary of Derivatives Measured at Fair Value

The following table provides an analysis of derivatives measured at fair value, grouped into levels based on the degree to which the fair value is observable:

•

Level 1 valuation is based on quoted price (unadjusted) in active markets for identical financial instruments, it includes aluminium futures that are traded on the LME;

•

Level 2 valuation is based on inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities, either directly (i.e. prices) or indirectly (i.e. derived from prices), it includes foreign exchange derivatives;

•

Level 3 valuation is based on inputs for the asset or liability that are not based on observable market data (unobservable inputs).


	At December 31, 2017								At December 31, 2016
*(in millions of Euros)*	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Other financial assets—derivatives		46		50		—		96		6		94		—		100
Other financial liabilities—derivatives		6		60		—		66		7		57		—		64