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Annual Report 2015
Notes to the consolidated balance sheet
During 2015, two capital increases of MERLIN
Properties took place for an aggregate
amount of € 1,647,452 thousand. After the
capital increases, total equity of the Company
as of year-end amounts to €2,926,431
thousand.
Fair value of the portfolio corresponds to
the appraisal value delivered by CBRE and
Savills as of 31 December 2015. The referred
appraisal value is reflected in the following
accounting items:
(€ thousand)
Leaseholds (included in intangible assets)
71,500
Investement Property
5,397,091
Derivatives (in non-current financial assets)
194,766
Equity method
101,126
Non-current assets for disposal
288,182
Total
6,052,665
€ thousand
Long term Short term Total
Financial debt
1,443,219
1,706,637
3,149,856
Loan arrangement costs
(30,182)
(2,921)
(33,103)
Mark-to-market of interest-rate hedging contracts
50,837
6,309
57,146
Mark-to-market of inflation hedging contracts
(8,39)
-
(8,397)
Other financial liabilities (i,e, legal deposits)
65,465
1,961
67,426
Total debt
1,520,942 1,711,986 3,232,928
FINANCIAL DEBT
The balance of long term debt and short
term debt includes Company’s outstanding
financial debt, other financial liabilities and
the mark-to-market of interest-rate and
inflation hedging contracts. The breakdown
of gross financial and net financial debt is as
follows:
Financial debt