157
(in millions of Euro)
31 December 2012
Level 1
Level 2
Level 3
Total
Assets
Financial assets at fair value through profit or loss:
Derivatives
3
7
-
10
Financial assets held for trading
74
4
-
78
Hedging derivatives
-
9
-
9
Available-for-sale financial assets
1
-
13
14
Total assets
78
20
13
111
Liabilities
Financial liabilities at fair value through profit or loss:
Derivatives
8
8
-
16
Hedging derivatives
-
49
-
49
Total liabilities
8
57
-
65
(in millions of Euro)
31 December 2013
Level 1
Level 2
Level 3
Total
Assets
Financial assets at fair value through profit or loss:
Derivatives
5
15
-
20
Financial assets held for trading
87
7
-
94
Hedging derivatives
-
5
-
5
Available-for-sale financial assets
1
-
14
15
Total assets
93
27
14
134
Liabilities
Financial liabilities at fair value through profit or loss:
Derivatives
18
18
36
Hedging derivatives
13
13
Total liabilities
18
31
-
49
The following tables present the assets and liabilities that are measured at fair value:
Financial assets classified in fair value Level 3 reported no
significant movements in either 2013 or 2012.
Given the short-term nature of trade receivables and payables,
their book values, net of any allowance for doubtful accounts,
are treated as a good approximation of fair value.
During 2013 there were no transfers of financial assets
and liabilities between the different levels of the fair value
hierarchy.
