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Results

31 – Fair value hierarchy

Fair value hierarchy of financial assets1 and net amount of assets and liabilities held for sale at fair value

In EUR mn

 

 

 

 

 

 

 

 

Carrying amount

Fair value level

 

Valued at amortized cost

Valued at fair value

Total

Level 1

Level 2

Level 3

Total

 

 

 

 

 

 

 

 

 

2023

Trade receivables

3,356

99

3,455

—

99

—

99

Equity investments

—

57

57

—

34

23

57

Investment funds

—

28

28

28

—

—

28

Bonds

285

—

285

—

—

—

—

Derivatives designated and effective as hedging instruments

—

52

52

—

52

—

52

Other derivatives

—

890

890

0

890

—

890

Loans

910

—

910

—

—

—

—

Other sundry financial assets

1,610

2

1,612

—

—

2

2

Net amount of assets and liabilities associated with assets held for sale

n.a.

13

13

—

13

—

13

Total

6,160

1,141

7,301

28

1,088

25

1,141

 

 

 

 

 

 

 

 

 

2022

Trade receivables

4,086

136

4,222

—

136

—

136

Equity investments

—

42

42

—

—

42

42

Investment funds

—

26

26

26

—

—

26

Bonds

52

—

52

—

—

—

—

Derivatives designated and effective as hedging instruments

—

380

380

—

380

—

380

Other derivatives

—

2,867

2,867

14

2,853

—

2,867

Loans

711

—

711

—

—

—

—

Other sundry financial assets

1,850

—

1,850

—

—

—

—

Net amount of assets and liabilities associated with assets held for sale

n.a.

882

882

—

58

824

882

Total

6,699

4,334

11,032

40

3,427

866

4,334

1

Excluding assets that were reclassified to held for sale

Fair value hierarchy of financial liabilities and other liabilities at fair value1

In EUR mn

 

 

 

 

 

 

 

 

Carrying amount

Fair value level

 

Valued at amortized cost

Valued at fair value

Total

Level 1

Level 2

Level 3

Total

 

 

 

 

 

 

 

 

 

2023

Trade payables

3,955

—

3,955

—

—

—

—

Bonds

6,073

—

6,073

—

—

—

—

Lease liabilities

1,585

—

1,585

—

—

—

—

Other interest-bearing debt

1,470

—

1,470

—

—

—

—

Liabilities on derivatives designated and effective as hedging instruments

—

67

67

—

67

—

67

Liabilities on other derivatives

—

469

469

37

432

—

469

Other sundry financial liabilities

1,204

—

1,204

—

—

—

—

Other liabilities at fair value2

—

28

28

—

28

—

28

Total

14,287

564

14,851

37

528

—

564

 

 

 

 

 

 

 

 

 

2022

Trade payables

5,259

—

5,259

—

—

—

—

Bonds

7,320

—

7,320

—

—

—

—

Lease liabilities

1,476

—

1,476

—

—

—

—

Other interest-bearing debt

1,487

—

1,487

—

—

—

—

Liabilities on derivatives designated and effective as hedging instruments

—

44

44

—

44

—

44

Liabilities on other derivatives

—

1,571

1,571

0

1,571

—

1,571

Other sundry financial liabilities

1,047

—

1,047

—

—

—

—

Other liabilities at fair value2

—

132

132

—

132

—

132

Total

16,589

1,747

18,336

0

1,747

—

1,747

1

Excluding liabilities that were reclassified to held for sale

2

Includes hedged items designated in a fair value hedge relationship related to product swaps with the national stockholding company in Germany. 2022 included additionally hedged items designated in a fair value hedge relationship related to product swaps with the national stockholding company in Slovakia.

Financial liabilities for which fair values are disclosed

In EUR mn

 

 

 

 

 

 

Carrying amount

Fair value

Fair value level

 

 

 

Level 1

Level 2

Level 3

 

 

 

 

 

 

 

2023

Bonds

6,073

5,766

5,766

—

—

Other interest-bearing debt

1,470

1,349

—

1,349

—

Financial liabilities

7,543

7,115

5,766

1,349

—

 

 

 

 

 

 

 

2022

Bonds

7,320

6,747

6,747

—

—

Other interest-bearing debt

1,487

1,320

—

1,320

—

Financial liabilities

8,807

8,067

6,747

1,320

—

The table above shows the carrying amount and fair value of financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information of other financial assets and liabilities measured at amortized costs, as the carrying amount represents an adequate approximation to the fair value.