Page 5 - Consolidated Financial Statements and Management Report

10. INVESTMENTS VALUEDUSING THE EQUITYMETHOD 78
11. NON-CURRENT FINANCIAL INVESTMENTS 79
12. INVENTORIES 80
13. TRADE RECEIVABLES 81
14. CURRENT FINANCIAL INVESTMENTS 82
15. CASHAND CASHEQUIVALENTS 82
16. SHAREHOLDERS’ EQUITY 82
16.1. Subscribed Share Capital 82
16.2. Parent Company Reserves 83
16.3. Equity ValuationAdjustments 84
16.4. Treasury Shares 84
16.5. Minority Interests 84
17. DEBT INSTRUMENTS AND BANK BORROWINGS 85
18. OTHERNON-CURRENT LIABILITIES 88
19. DERIVATIVE FINANCIAL INSTRUMENTS 89
20. SHARE-BASEDREMUNERATION SCHEMES 90
21. PROVISIONS FOR LIABILITIES AND CHARGES 91
22. TAX NOTE 92
23. TRADE CREDITORS 97
24. INFORMATIONONDEFERRED PAYMENTS TO SUPPLIERS. THIRD ADDITIONAL PROVISION,
“DUTY TOREPORT” OF ACT 11/2013 OF 26 JULY 97
25. OTHER CURRENT LIABILITIES 98
26. THIRD-PARTY GUARANTEES AND CONTINGENT ASSETS AND LIABILITIES 98
27. INCOME AND EXPENSES 99
27.1. Income 99
27.2. Financial Income and Changes in the Fair Value of Financial Instruments 100
27.3. Personnel Expenses 100
27.4. Other Operating Expenses 101
27.5. Operating Leases 102
27.6. Financial Expenses and Changes in Fair Value of Financial Instruments 103
28. RELATED-PARTY TRANSACTIONS 103
29. INFORMATION BY SEGMENTS 106
29.1. Information onMain Segments 107
29.2. Information on Secondary Segments 107
30. REMUNERATION ANDOTHER STATEMENTSMADE BY THE BOARDOF DIRECTORS AND SENIORMANAGEMENT 108
30.1. Remuneration of the Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108
30.2. Remuneration of Senior Management 108
30.3. Information on Conflicts of Interest Among Directors 109
31. SUBSEQUENTDISCLOSURES 111
32. INFORMATIONON ENVIRONMENTAL POLICY 111
33. EXPOSURE TORISK 111
APPENDIX I: SUBSIDIARIES 113
APPENDIX II: ASSOCIATED COMPANIES 116
ANNUAL REPORT OF THE AUDIT COMMITTE 117