The fair value of customer loans included in financial assets reported as loans and receivables was determined using a discounted cash flow model based on observable inputs from the relevant forward interest rate yield curve plus an appropriate risk premium. The fair value of available for sale financial assets represents the quoted price.

The fair values of carrying amounts of financial liabilities for the considered reporting periods were as follows:

			06/30/2014						12/31/2013
			carrying amount			fair value			carrying amount			fair value
Thousands of Euros
Bank overdrafts and lines of credit			504			504			758			758
Long-term debt			1,056			1,092			1,507			1,573
Finance lease obligations			2,387			2,404			3,520			3,549
Total			3,947			4,000			5,785			5,880

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