24) Financial assets by category


Financial assets in the balance sheet as of 31.12.2011

in €m

Loans and receivables

At fair value through profit or loss

Available for sale

Derivative financial instruments which are an effective part of a hedging relationship

Other equity investments

898

Non-current securities

134

Loans

190

Non-current receivables

386

Non-current derivative financial instruments

155

188

Trade receivables and other current receivables

3,437

Current derivative financial instruments

144

270

Current securities

3,111

Cash and cash equivalents

887

Total

4,013

299

5,030

458

Financial assets in the balance sheet as of 31.12.2010

in €m

Loans and receivables

At fair value through profit or loss

Available for sale

Derivative financial instruments which are an effective part of a hedging relationship

Other equity investments

1,128

Non-current securities

250

Loans

170

Non-current receivables

450

Non-current derivative financial instruments

124

226

Trade receivables and other current receivables

3,401

 

Current derivative financial instruments

167

317

Current securities

7

4,276

Cash and cash equivalents

1,097

Total

4,021

298

6,751

543

The financial assets in the category “at fair value through profit or loss” in both financial years include assets held for trading and time values of options used for hedging of EUR 174m (previous year: EUR 218m) which following an amendment to IAS 39 are to be recognised in the financial result. Otherwise, no financial assets have been classified as “at fair value through profit or loss”.

The net result of the different categories of financial assets is made up as follows:

2011

in €m

Other operating income

Other operating expenses

Result of equity investments

Other financial items

Net result

Loans and receivables

32

–86

–11

–65

Financial assets at fair value through profit or loss

23

23

Ineffective portion of derivatives used as cash flow hedges

–96

–96

Available-for-sale financial assets

12

–63

–26

–77

2010

in €m

Other operating income

Other operating expenses

Result of equity investments

Other financial items

Net result

Loans and receivables

52

–109

–11

–68

Financial assets at fair value through profit or loss

25

25

Ineffective portion of derivatives used as cash flow hedges

–18

–18

Available-for-sale financial assets

210

–15

–5

190

Financial assets held at fair value by level of fair value hierarchy

The following table shows financial assets held at fair value by level of fair value hierarchy. The levels are defined as follows:

Level 1:

  • Financial instruments traded on active markets the quoted prices for which are taken for measurement unchanged.

Level 2:

  • Measurement is made by means of valuation methods with parameters derived directly or indirectly from observable market data.

Level 3:

  • Measurement is made by means of valuation methods with parameters not based exclusively on observable market data.

Assets as of 31.12.2011

in €m

Level 1

Level 2

Level 3

Total

*

Rounded below EUR 1m.

Financial assets at fair value through profit and loss

Financial derivatives classified
as held for trading

299

299

Current securities

0*

0*

0*

Total financial assets through profit and loss

299

0*

299

Derivative financial instruments which are an effective part of a hedging relationship

458

458

Available-for-sale financial assets

 

 

 

 

Equity instruments

787

787

Debt instruments

662

2,396

6

3,064

 

1,449

2,396

6

3,851

Total assets

1,449

3,153

6

4,608

In the financial year 2010 the fair value hierarchy for assets held at fair value was as follows:

Assets as of 31.12.2010

in €m

Level 1

Level 2

Level 3

Total

Financial assets at fair value through profit and loss

Financial derivatives classified
as held for trading

291

291

Current securities

3

4

7

Total financial assets through profit and loss

294

4

298

Derivative financial instruments which are an effective part of a hedging relationship

543

543

Available-for-sale financial assets

 

 

 

 

Equity instruments

841

841

Debt instruments

809

3 684

20

4 513

 

1,650

3,684

20

5,354

Total assets

1,650

4,521

24

6,195

Additional disclosures on financial assets in Level 3 as of 31.12.2011

in €m

1.1.2011

Recognised in result for the period

Change in market value recognised in equity

Additions/Disposals

31.12.2011

*

Rounded below EUR 1m

Financial assets at fair value through profit or loss

4

4

–8

0*

Available-for-sale financial assets

20

3

0*

–17

6

Total

24

7

0*

–25

6

Additional disclosures on financial assets in Level 3 as of 31.12.2010

in €m

1.1.2010

Recognised in result for the period

Change in market value recognised in equity

Additions/Disposals

31.12.2010

*

Rounded below EUR 1m.

Financial assets at fair value through profit or loss

3

1

0*

4

Available-for-sale financial assets

24

0*

0*

–4

20

Total

27

1

0*

–4

24

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