Notes to the financial statements
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| 22. Borrowings, other debt instruments and finance lease liabilities | | | |
| Note | December 31st 2017 | December 31st 2016 |
| Bank borrowings | 22.1 | 3903 | 5082.9 |
| Non-bank borrowings | 22.2 | 68.3 | 81.8 |
| Notes | 22.3 | 313 | 213 |
| Finance lease liabilities | 22.4 | 141.6 | 179.5 |
| Total | | 4425.9 | 5557.2 |
| including: | | | |
| non-current | | 2738.3 | 3980.5 |
| current | | 1687.6 | 1576.7 |
| | | |
| | 2017 | 2016 |
| At beginning of period | | 5557.2 | 6999.3 |
| Proceeds from borrowings | | 925.8 | 380.5 |
| Issue of notes | | 296.1 | - |
| Repayment of borrowings | | -1236.2 | -1511.1 |
| Redemption of notes | | -160.2 | -19.2 |
| Decrease in finance lease liabilities | | -36.8 | -31.2 |
| Interest, fees and commissions paid | | -203.3 | -203.7 |
| Interest, fees and commissions accrued | | 204.7 | 186.1 |
| Prepayments and accruals | | 13.6 | -35 |
| Exchange differences: | | -906.7 | 387.5 |
| Change in overdraft facilities | | -13.8 | -567.8 |
| Change in deposits securing payment of interest and principal | | -15.8 | -26.5 |
| Other | | 1.3 | -1.7 |
| At end of period | | 4425.9 | 5557.2 |
| 22.1 Bank borrowings | | | |
| | December 31st 2017 | December 31st 2016 |
| Investment facilities | | 3426.9 | 4429.1 |
| Working-capital facilities | | 139.4 | 161.8 |
| Inventory financing and refinancing facility | | 696.8 | 836.3 |
| Funds in bank deposits securing payment of interest and principal* | | -360.1 | -344.3 |
| Total | | 3903 | 5082.9 |
| including: | | | |
| non-current | | 2633.6 | 3769.8 |
| current | | 1269.4 | 1313.1 |
| | | | |
| Bank borrowings by currency | | | |
| | | Total |
| USD | PLN | |
| December 31st 2017 | 3627.9 | 275.1 | 3903 |
| December 31st 2016 | 4745.4 | 337.5 | 5082.9 |
* In accordance with IAS 32, Grupa LOTOS S.A. offsets the financial asset (cash reserved for repayment of the facilities) against financial liabilities under the facilities as it has a legally enforceable title to set off the amounts and intends to realise the asset and settle the liability simultaneously. Accumulation of funds for the repayment of credit facilities is expressly provided for in the documentation relating to the investment facilities obtained to finance the 10+ Programme, as well as the inventory financing and refinancing facility. The Company is required to set aside and maintain funds for repayment of principal and interest due over the next six months. The purpose of adopting the net-basis presentation approach in the statement of financial position is to reflect the expected future cash flows from the settlement of two or more financial instruments.
| 22.2 Non-bank borrowings | | |
| December 31st 2017 | December 31st 2016 |
| Provincial Fund for Environmental Protection and Water Management in Gdańsk (WFOŚiGW) | 5.2 | 7.7 |
| Agencja Rozwoju Przemysłu S.A. | 63.1 | 74.1 |
| Total | 68.3 | 81.8 |
| including: | | |
| non-current | 4.4 | 69.3 |
| current | 63.9 | 12.5 |
| 22.4 Finance lease liabilities | | | | |
| | | Present value of minimum lease payments | |
| December 31st 2017 | December 31st 2016 | December 31st 2017 | December 31st 2016 |
| Up to 1 year | 57.4 | 57.8 | 41.3 | 38.1 |
| From 1 to 5 years | 121.6 | 173.7 | 100.3 | 137.3 |
| Over 5 years | - | 4.3 | - | 4.1 |
| Total | 179 | 235.8 | 141.6 | 179.5 |
| Less finance costs | -37.4 | -56.3 | - | - |
| Present value of minimum lease payments | 141.6 | 179.5 | 141.6 | 179.5 |
| including: | | | | |
| non-current | | | 100.3 | 141.4 |
| current | | | 41.3 | 38.1 |
| 22.4.1 Undisclosed liabilities under operating lease agreements | | |
| December 31st 2017 | December 31st 2016 |
| Up to 1 year | 100.6 | 110.5 |
| From 1 to 5 years | 233.2 | 339.4 |
| Over 5 years | - | 3.8 |
| Total | 333.8 | 453.7 |
