XML 456 R27.htm IDEA: XBRL DOCUMENT
v3.20.4

FINANCIAL INSTRUMENTS | 12 Months Ended
--- | ---
Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract] |
FINANCIAL INSTRUMENTS | NOTE 21 - FINANCIAL INSTRUMENTS 21.1 Financial assets and liabilities by categories
|  |  |  | At December 31,
|  |  |  | 2020 |  | 2019
(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
Cash and cash equivalents |  | 13 |  | 439 |  |  | — |  |  | — |  |  | 439 |  |  | 184 |  |  | — |  |  | — |  |  | 184 |
Trade receivables |  | 14 |  | — |  |  | — |  |  | 341 |  |  | 341 |  |  | — |  |  | — |  |  | 393 |  |  | 393 |
Other financial assets |  |  |  | 3 |  |  | 40 |  |  | 14 |  |  | 57 |  |  | — |  |  | 29 |  |  | — |  |  | 29 |
Total |  |  |  | 442 |  |  | 40 |  |  | 355 |  |  | 837 |  |  | 184 |  |  | 29 |  |  | 393 |  |  | 606 |
|  |  |  | At December 31,
|  |  |  | 2020 |  | 2019
(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 |  | 653 |  |  | — |  |  | — |  |  | 653 |  |  | 754 |  |  | — |  |  | — |  |  | 754 |
Borrowings |  | 20 |  | 2,391 |  |  | — |  |  | — |  |  | 2,391 |  |  | 2,361 |  |  | — |  |  | — |  |  | 2,361 |
Other financial liabilities |  |  |  | — |  |  | 85 |  |  | 2 |  |  | 87 |  |  | — |  |  | 44 |  |  | 14 |  |  | 58 |
Total |  |  |  | 3,044 |  |  | 85 |  |  | 2 |  |  | 3,131 |  |  | 3,115 |  |  | 44 |  |  | 14 |  |  | 3,173 |
21.2 Fair values The carrying value of the Group’s borrowings at maturity is the redemption value. The fair value of Constellium SE Senior Notes issued in May 2014, February 2017, November 2017 and June 2020 account for 102%, 102%, 103% and 108% respectively of the nominal value and amount to €333 million, €543 million, €830 million and €285 million, respectively, at December 31, 2020. All derivatives are presented at fair value in the Consolidated Statement of Financial Position. The fair values of the other financial assets and liabilities approximate their carrying values, as a result of their liquidity or short maturity.
|  | At December 31,
|  | 2020 |  | 2019
(in millions of Euros) |  | Non-current |  | Current |  | Total |  | Non-current |  | Current |  | Total
Aluminium and premium future contracts |  | 1 |  |  | 18 |  |  | 19 |  |  | 1 |  |  | 8 |  |  | 9 |
Other future contracts |  | 1 |  |  | 1 |  |  | 2 |  |  | — |  |  | — |  |  | — |
Currency commercial contracts |  | 16 |  |  | 17 |  |  | 33 |  |  | 5 |  |  | 12 |  |  | 17 |
Currency net debt derivatives |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 2 |  |  | 3 |
Margin call (A) |  | — |  |  | 3 |  |  | 3 |  |  | — |  |  | — |  |  | — |
Other financial assets - derivatives |  | 18 |  |  | 39 |  |  | 57 |  |  | 7 |  |  | 22 |  |  | 29 |
Aluminium and premium future contracts |  | 3 |  |  | 6 |  |  | 9 |  |  | 4 |  |  | 10 |  |  | 14 |
Energy future contracts |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 1 |
Other future contracts |  | — |  |  | 1 |  |  | 1 |  |  | 2 |  |  | 4 |  |  | 6 |
Currency commercial contracts |  | 4 |  |  | 28 |  |  | 32 |  |  | 12 |  |  | 16 |  |  | 28 |
Currency net debt derivatives |  | 34 |  |  | 11 |  |  | 45 |  |  | 5 |  |  | 4 |  |  | 9 |
Other financial liabilities - derivatives |  | 41 |  |  | 46 |  |  | 87 |  |  | 23 |  |  | 35 |  |  | 58 |
(A) At December 31, 2020, the €3 million margin call asset position was related to foreign currency derivatives. 21.3 Valuation hierarchy The following table provides an analysis of financial instruments measured at fair value, grouped into levels based on the degree to which the fair value is observable: •Level 1 is based on a quoted price (unadjusted) in active markets for identical financial instruments. Level 1 includes aluminium, copper and zinc futures that are traded on the LME. •Level 2 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). Level 2 includes foreign exchange derivatives. The present value of future cash flows based on the forward or on the spot exchange rates at the balance sheet date is used to value foreign exchange derivatives. •Level 3 is based on inputs for the asset or liability that are not based on observable market data (unobservable inputs). Trade receivables are classified as a Level 3 measurement under the fair value hierarchy.
|  | At December 31,
|  | 2020 |  | 2019
(in millions of Euros) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Other financial assets - derivatives |  | 20 |  |  | 37 |  |  | — |  |  | 57 |  |  | 8 |  |  | 21 |  |  | — |  |  | 29 |
Other financial liabilities - derivatives |  | 9 |  |  | 78 |  |  | — |  |  | 87 |  |  | 19 |  |  | 39 |  |  | — |  |  | 58 |
There was no material transfer of asset and liability categories into or out of Level 1, Level 2 or Level 3 during the years ended December 31, 2020 and 2019.

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 entire disclosure for financial instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2020-01-01 -Section Scope -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2020-en-r&doctype=Standard&dita_xref=IFRS07_g3-5A_TI -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration