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30 – Offsetting of financial assets and financial liabilities

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.

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

 

 

 

 

 

 

 

 

 

2022

Derivative financial instruments

18

13,466

(10,219)

3,247

(547)

2,700

Trade receivables

18

6,086

(1,864)

4,222

(106)

4,116

Other sundry financial assets

18

1,892

(42)

1,850

(1)

1,849

Total

 

21,444

(12,125)

9,318

(654)

8,664

 

 

 

 

 

 

 

 

 

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

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

 

 

 

 

 

 

 

 

 

2022

Derivative financial instruments

24

11,835

(10,219)

1,615

(547)

1,068

Trade payables

24

7,123

(1,864)

5,259

(106)

5,153

Other sundry financial liabilities

24

1,089

(42)

1,047

(1)

1,046

Total

 

20,046

(12,125)

7,921

(654)

7,267

 

 

 

 

 

 

 

 

 

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