Company 37: Fair value
The fair value and carrying amount of financial assets and financial liabilities:
| 2011 | 2010 | |||
|---|---|---|---|---|
| In TEUR | Carrying amount | Fair value | Carrying amount | Fair value |
| Available-for-sale | 14.031 | 14.031 | 9.035 | 9.035 |
| Non-current loans | 84 | 84 | 489 | 489 |
| Current loans | 79.851 | 79.851 | 64.128 | 64.128 |
| Derivatives | -5.527 | -5.527 | -14.184 | -14.184 |
| Trade receivables | 187.903 | 187.903 | 183.967 | 183.967 |
| Other current assets | 10.288 | 10.288 | 20.336 | 20.336 |
| Cash and cash equivalents | 58.090 | 58.090 | 49.678 | 49.678 |
| Non-current financial liabilities | -226.076 | -226.076 | -176.940 | -176.940 |
| Current financial liabilities | -127.727 | -127.727 | -122.992 | -122.992 |
| Trade payables | -142.027 | -142.027 | -154.803 | -154.803 |
| Other payables | -10.799 | -10.799 | -16.282 | -16.282 |
| Total | -161.909 | -161.909 | -157.568 | -157.568 |
Available-for-sale investments are valued at fair value on the basis of market prices.
Fair value scale
The table shows method of valuing financial assets recorded at fair value. The levels are as follows:
- Level 1: stock price (unadjusted) in the active market of identical assets and liabilities
- Level 2: data differing from stock price data (these are included in Level 1) monitored with the intention of direct or indirect valuation of assets and liabilities
- Level 3: data on the value of assets and liabilities not based on the active market
| In TEUR | Level 1 | Level 2 | Level 3 | Total |
|---|---|---|---|---|
| Available-for-sale financial assets | 468 | - | 13.563 | 14.031 |
| Derivatives – assets | - | - | - | - |
| Derivatives – liabilities | - | -5.527 | - | -5.527 |
| In TEUR | Level 1 | Level 2 | Level 3 | Total |
|---|---|---|---|---|
| Available-for-sale financial assets | 1.242 | - | 7.793 | 9.035 |
| Derivatives – assets | - | - | - | - |
| Derivatives – liabilities | - | -14.184 | - | -14.184 |
Forward exchange contracts
The total fair value of forward exchange contracts amounted to TEUR -393 as at 31 December 2011 (2010: TEUR -14,126) and was recorded under other financial liabilities.
Interest rate swaps
The total fair value of interest rate swaps as at 31 December 2011 amounted to TEUR -5,134 (2010: TEUR -58) and was recorded under other financial liabilities.
Interest rate swap hedges, which relate to hedged items in the statement of financial position, are recorded in equity in the fair value reserve.