30 – Offsetting of financial assets and financial liabilities Index26272829303132 Financial assets and financial liabilities are offset only when the Group has a current and legally enforceable right to set-off the recognized amounts and when there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. OMV enters in the normal course of business into various master netting arrangements in the form of International Swaps and Derivatives Association (ISDA) agreements or European Federation of Energy Traders (EFET) agreements or other similar arrangements. The tables hereafter show the carrying amounts of recognized financial assets and financial liabilities that are subject to various netting arrangements. The net column would be on the Group’s statement of financial position, if all set-off rights were exercised. During 2021 OMV has updated its assessment of IAS 32.42 netting criteria further to a legal assessment of the major agreements in place. (XLSX:) Download Offsetting of financial assets In EUR mn Note Financial instruments (gross) Amounts set off in the statement of financial position Financial instruments in the statement of financial position (net) Liabilities with right of set-off (not offset) Net 2021 Derivative financial instruments 18 21,462 (16,844) 4,619 (1,421) 3,197 Trade receivables 18 6,998 (2,480) 4,518 (107) 4,411 Other sundry financial assets 18 2,231 (97) 2,135 (104) 2,031 Total 30,691 (19,420) 11,271 (1,633) 9,639 2020 Derivative financial instruments 18 2,573 — 2,573 (2,023) 550 Trade receivables 18 3,325 (9) 3,316 (1,298) 2,018 Other sundry financial assets 18 2,058 — 2,058 (104) 1,954 Total 7,955 (9) 7,947 (3,424) 4,522 (XLSX:) Download Offsetting of financial liabilities In EUR mn Note Financial instruments (gross) Amounts set off in the statement of financial position Financial instruments in the statement of financial position (net) Assets with right of set-off (not offset) Net 2021 Derivative financial instruments 24 20,922 (16,844) 4,079 (1,421) 2,657 Trade payables 24 7,340 (2,480) 4,860 (107) 4,753 Other sundry financial liabilities 24 973 (97) 876 (104) 772 Total 29,235 (19,420) 9,815 (1,633) 8,182 2020 Derivative financial instruments 24 2,516 — 2,516 (2,024) 492 Trade payables 24 4,313 (9) 4,304 (1,298) 3,006 Other sundry financial liabilities 24 1,033 — 1,033 (103) 930 Total 7,861 (9) 7,853 (3,424) 4,428 schließen IASs International Accounting Standards 29 – Fair value hierarchy31 – Result on financial instruments
