IBERSOL | Annual Report 2020

Consolidated Financial Statements 19. DERIVATIVE FINANCIAL INSTRUMENTS As at 31 December 2020 and 2019 the detail of Ibersol derivative financial instruments are presented as follows: dec/2020 dec/2019 Swap 63.078 128.699 Derivative financial instruments 63.078 128.699 Ibersol Group’s derivatives are hedging for an interest rate swap with the purpose of covering the risk of future cash flows and are detailed as follows: Ibersol SGPS Ibersol SGPS Initial date 19-05-2017 08-06-2017 Due date 20-10-2022 14-11-2022 Fixed interest rate 0,39% 0,395% Variable interest rate Euribor 6M* Euribor 3M* Amounts at 31 December 2020 9.600.000 3.200.000 (*) with floor zero These derivatives is classified as a level 2 category and its technical valuation is based on a market approach (MTM). As the derivative financial instrument was not registered under hedge accounting, the change in the fair value of the derivative is reflected in income for the period (Note 25). 20. ACCOUNTS PAYABLE TO SUPPLIERS AND ACCRUED COSTS As at 31 December 2020 and 2019, accounts payable to suppliers and accrued costs were broken down as follows: dec/2020 dec/2019 Suppliers c/ a 26.475.002 32.908.102 Suppliers - invoices pending approval 2.760.018 5.548.999 Suppliers of fixed assets c/ a 15.406.934 19.231.301 Total accounts payable to suppliers 44.641.954 57.688.402 378