18 Other financial liabilities
|notes||30 June 2016||30 June 2015|
|Financial liabilities at fair value through profit or loss|
|Contingent consideration - earn outs||5||-||267|
|Other financial liabilities at amortized cost|
|Total other financial liabilities||14,725||6,468|
|With a term < 1 year||16||4,098||1,780|
|With a term > 1 year||10,627||4,688|
Contingent consideration - earn outs
As part of the purchase agreement with the previous owners of Centre B.V. contingent consideration was been agreed (see Note 5). As at 30 June 2016, it was concluded that, as in previous year, the earn out levels for FY16 were not met. Accordingly, the fair value of the contingent consideration has been adjusted to nihil (30 June 2015: €0.3 million.)
The other considerations consists of the considerations for Centre B.V., Integrc Netherlands B.V., EY Intelligence in Information B.V., EY Montesquieu Finance B.V. and EY Montesquieu Institutional Risk Management B.V. Please refer to Note 5 for further information. For these payments the present value is calculated using a discount rate based on a risk free rate. The amount to be paid in the next financial year is included in the Trade and other payables -other payables (Note 16).
Other payables as at 30 June 2016 mainly relates to the lease incentives regarding office leases. The amount to be repaid in the next financial year is included in the Trade and other payables (Note 16).
7) Reclassification in 2014/2015 for comparative purposes.