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Financial instruments (Tables)
 9 Months Ended
Sep. 30, 2019
Financial Instruments [Abstract]  
Disclosure of Financial Assets
 
Financial assets at amortized cost
 
Financial Assets at Fair Value through profit or loss
 
Derivatives at
fair value
through profit
or loss
 
Derivatives
used for
hedging
 
Financial
liabilities at
amortized
cost
 
Total
September 30, 2019
€m
 
€m
 
€m
 
€m
 
€m
 
€m
Assets

 

 

 

 

 

Derivative financial instruments
—

 
—

 
2.8

 
46.8

 
—

 
49.6

Trade receivables
77.7

 
6.5

 
—

 
—

 
—

 
84.2

Cash and cash equivalents
646.1

 
75.4

 
—

 
—

 
—

 
721.5

Short-term investments
—


25.0


—


—


—


25.0

Liabilities

 

 

 

 

 

Derivative financial instruments
—

 
—

 
—

 
(22.3
)
 
—

 
(22.3
)
Trade and other payables excluding non-financial liabilities
—

 
—

 
—

 
—

 
(453.1
)
 
(453.1
)
Loans and borrowings
—

 
—

 
—

 
—

 
(1,906.4
)
 
(1,906.4
)
Total
723.8

 
106.9

 
2.8

 
24.5

 
(2,359.5
)
 
(1,501.5
)
Trade receivables disclosed in the table above are net of contract liabilities related to discounts and trade marketing expenses of €191.5 million.

Following the adoption of IFRS 16 Leases on January 1, 2019, loans and borrowings now includes €110.5 million relating to lease liabilities.

The Company entered into facilities with third-party banks in which the Company may sell qualifying trade debtors on a non-recourse basis. Under the terms of the agreements, the Company has transferred substantially all the credit risks and control of the receivables, which are subject to this agreement, and accordingly €43.5 million (December 31, 2018: €51.0 million) of trade receivables has been derecognized at the period end.
Loans and borrowings are stated gross of capitalized deferred borrowing costs.
 
Financial assets at amortized cost
 
Financial Assets at Fair Value through profit or loss
 
Derivatives at
fair value
through profit
or loss
 
Derivatives
used for
hedging
 
Financial
liabilities at
amortized
cost
 
Total
December 31, 2018
€m
 
€m
 
€m
 
€m
 
€m
 
€m
Assets

 

 

 

 

 

Derivative financial instruments
—

 
—

 
4.6

 
44.5

 
—

 
49.1

Trade receivables
98.3

 
—

 
—

 
—

 
—

 
98.3

Cash and cash equivalents
297.0

 
30.6

 
—

 
—

 
—

 
327.6

Liabilities

 

 

 

 

 

Derivative financial instruments
—

 
—

 
(0.3
)
 
(36.6
)
 
—

 
(36.9
)
Trade and other payables excluding non-financial liabilities
—

 
—

 
—

 
—

 
(534.9
)
 
(534.9
)
Loans and borrowings
—

 
—

 
—

 
—

 
(1,775.2
)
 
(1,775.2
)
Total
395.3

 
30.6

 
4.3

 
7.9

 
(2,310.1
)
 
(1,872.0
)
Disclosure of Financial Liabilities
 
Fair value
 
Carrying value
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
€m
 
€m
 
€m
 
€m
Senior EUR/USD loans
1,414.2

 
1,347.2

 
1,392.6

 
1,372.2

Other external debt
3.2

 
3.0

 
3.2

 
3.0

2024 fixed rate senior secured notes
413.6

 
395.2

 
400.0

 
400.0

Less deferred borrowing costs
—

 
—

 
(9.4
)
 
(10.9
)
 
1,831.0

 
1,745.4

 
1,786.4

 
1,764.3

 
Financial assets at amortized cost
 
Financial Assets at Fair Value through profit or loss
 
Derivatives at
fair value
through profit
or loss
 
Derivatives
used for
hedging
 
Financial
liabilities at
amortized
cost
 
Total
September 30, 2019
€m
 
€m
 
€m
 
€m
 
€m
 
€m
Assets

 

 

 

 

 

Derivative financial instruments
—

 
—

 
2.8

 
46.8

 
—

 
49.6

Trade receivables
77.7

 
6.5

 
—

 
—

 
—

 
84.2

Cash and cash equivalents
646.1

 
75.4

 
—

 
—

 
—

 
721.5

Short-term investments
—


25.0


—


—


—


25.0

Liabilities

 

 

 

 

 

Derivative financial instruments
—

 
—

 
—

 
(22.3
)
 
—

 
(22.3
)
Trade and other payables excluding non-financial liabilities
—

 
—

 
—

 
—

 
(453.1
)
 
(453.1
)
Loans and borrowings
—

 
—

 
—

 
—

 
(1,906.4
)
 
(1,906.4
)
Total
723.8

 
106.9

 
2.8

 
24.5

 
(2,359.5
)
 
(1,501.5
)
Trade receivables disclosed in the table above are net of contract liabilities related to discounts and trade marketing expenses of €191.5 million.

Following the adoption of IFRS 16 Leases on January 1, 2019, loans and borrowings now includes €110.5 million relating to lease liabilities.

The Company entered into facilities with third-party banks in which the Company may sell qualifying trade debtors on a non-recourse basis. Under the terms of the agreements, the Company has transferred substantially all the credit risks and control of the receivables, which are subject to this agreement, and accordingly €43.5 million (December 31, 2018: €51.0 million) of trade receivables has been derecognized at the period end.
Loans and borrowings are stated gross of capitalized deferred borrowing costs.
 
Financial assets at amortized cost
 
Financial Assets at Fair Value through profit or loss
 
Derivatives at
fair value
through profit
or loss
 
Derivatives
used for
hedging
 
Financial
liabilities at
amortized
cost
 
Total
December 31, 2018
€m
 
€m
 
€m
 
€m
 
€m
 
€m
Assets

 

 

 

 

 

Derivative financial instruments
—

 
—

 
4.6

 
44.5

 
—

 
49.1

Trade receivables
98.3

 
—

 
—

 
—

 
—

 
98.3

Cash and cash equivalents
297.0

 
30.6

 
—

 
—

 
—

 
327.6

Liabilities

 

 

 

 

 

Derivative financial instruments
—

 
—

 
(0.3
)
 
(36.6
)
 
—

 
(36.9
)
Trade and other payables excluding non-financial liabilities
—

 
—

 
—

 
—

 
(534.9
)
 
(534.9
)
Loans and borrowings
—

 
—

 
—

 
—

 
(1,775.2
)
 
(1,775.2
)
Total
395.3

 
30.6

 
4.3

 
7.9

 
(2,310.1
)
 
(1,872.0
)