Combined Annual Report 2024

30. Fair value hierarchy

Accounting policy

The fair value is the amount for which an asset or liability could be transferred at the measurement date, based on the assumption that such transfers take place between participants in principal markets and, where applicable, taking the highest and best use into account.

Fair values are determined according to the following hierarchy:

Level 1: Quoted prices in active markets for identical assets or liabilities. For the OMV Group, this category will, in most cases, only be relevant for securities, bonds, investment funds, and futures contracts.

Level 2: Valuation technique using directly or indirectly observable inputs. To determine the fair value for financial instruments within Level 2, forward prices of crude oil or natural gas, interest rates and foreign exchange rates are usually used as inputs to the valuation model. In addition, counterparty credit risk and volatility indicators, if applicable, are considered.

Level 3: Valuation techniques such as discounted cash flow models using significant unobservable inputs (e.g., long-term price assumptions and reserves estimates).

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

 

 

 

 

 

 

 

 

 

2024

Trade receivables

2,714

128

2,842

–

128

–

128

Equity investments

–

106

106

19

62

25

106

Investment funds

–

29

29

29

–

–

29

Bonds

91

–

91

–

–

–

–

Derivatives designated as hedging instruments

–

39

39

–

39

–

39

Other derivatives

–

269

269

5

264

–

269

Loans

1,286

–

1,286

–

–

–

–

Other sundry financial assets

1,369

2

1,370

–

–

2

2

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

n.a.

369

369

–

369

–

369

Total

5,460

941

6,401

52

862

27

941

 

 

 

 

 

 

 

 

 

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 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

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

 

 

 

 

 

 

 

 

 

2024

Trade payables

3,723

–

3,723

–

–

–

–

Bonds

6,570

–

6,570

–

–

–

–

Lease liabilities

1,767

–

1,767

–

–

–

–

Other interest-bearing debt

1,070

–

1,070

–

–

–

–

Liabilities on derivatives designated as hedging instruments

–

60

60

–

60

–

60

Liabilities on other derivatives

–

342

342

28

315

–

342

Other financial liabilities

865

16

882

–

16

–

16

Other liabilities at fair value2

–

40

40

–

40

–

40

Total

13,996

459

14,455

28

431

–

459

 

 

 

 

 

 

 

 

 

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 as hedging instruments

–

67

67

–

67

–

67

Liabilities on other derivatives

–

469

469

37

432

–

469

Other financial liabilities

1,204

–

1,204

–

–

–

–

Other liabilities at fair value2

–

28

28

–

28

–

28

Total

14,287

564

14,851

37

528

–

564

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.
Financial liabilities for which fair values are disclosed

In EUR mn

 

 

 

 

 

Carrying amount

Fair value

Fair value level

 

 

 

Level 1

Level 2

 

 

 

 

 

 

2024

Bonds

6,570

6,359

6,359

–

Other interest-bearing debt

1,070

989

–

989

Financial liabilities

7,640

7,349

6,359

989

 

 

 

 

 

 

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

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.

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