42. Other disclosures on financial instruments

The following table lists the carrying amounts for financial assets and financial liabilities by measurement category for the reporting period:

Carrying amounts of financial instruments by measurement category
Enlarge table XLS Download

 

Carrying amount 28/2/2014

LaR1

AfS2

FAFVPL/
FLFVPL3

FLAC4

No category

in EUR thousands

Amortised cost

Cost

Fair value

Fair value

Amortised cost

Fair value

1

Measurement category ‘Loans and receivables’.

2

Measurement category ‘Available-for-sale financial assets’.

3

Measurement category ‘Financial assets at fair value through profit or loss’ or ‘Financial liabilities at fair value through profit or loss’.

4

Measurement category ‘Financial liabilities measured at amortised cost.

Non-current assets

 

 

 

 

 

 

 

Other financial investments

23,818

8

23,810

0

0

/

0

Current assets

 

 

 

 

 

 

 

Trade receivables

186,282

186,282

0

0

/

/

/

Receivables from related parties

977

977

0

0

/

/

/

Financial assets

33,442

21,615

0

0

3,165

/

8,662

Cash and cash equivalents

58,339

58,339

/

0

0

/

/

Non-current liabilities

 

 

 

 

 

 

 

Financial liabilities

5,836

/

/

/

0

5,836

0

Liabilities towards related parties

5,500

/

/

/

0

5,500

0

Other financial liabilities

20

/

/

/

0

20

0

Current liabilities

 

 

 

 

 

 

 

Financial liabilities

103

/

/

/

0

103

0

Trade payables

399,325

/

/

/

0

399,325

0

Liabilities towards related parties

35,537

/

/

/

0

35,537

0

Other financial liabilities

9,859

/

/

/

4,897

3,189

1,773

Total assets

302,858

267,221

23,810

0

3,165

/

8,662

Total liabilities

456,180

/

/

/

4,897

449,510

1,773

The following table shows the carrying amounts of financial assets and financial liabilities by measurement category for the comparative period:

Carrying amounts of financial instruments by measurement category
Enlarge table XLS Download

 

Carrying amount 28/2/2013

LaR1

AfS2

FAFVPL/
FLFVPL3

FLAC4

No category

in EUR thousands

Amortised cost

Cost

Fair value

Fair value

Amortised cost

Fair value

1

Measurement category ‘Loans and receivables’.

2

Measurement category ‘Available-for-sale financial assets’.

3

Measurement category ‘Financial assets at fair value through profit or loss’ or ‘Financial liabilities at fair value through profit or loss’.

4

Measurement category ‘Financial liabilities measured at amortised cost.

Non-current assets

 

 

 

 

 

 

 

Other financial investments

23,536

64

23,472

0

0

/

0

Current assets

 

 

 

 

 

 

 

Trade receivables

212,425

212,425

0

0

/

/

/

Receivables from related parties

4,263

4,263

0

0

/

/

/

Financial assets

12,597

7,564

0

0

2,038

/

2,995

Cash and cash equivalents

11,297

11,297

/

0

0

/

/

Non-current liabilities

 

 

 

 

 

 

 

Financial liabilities

4,575

/

/

/

0

4,575

0

Liabilities towards related parties

5,500

/

/

/

0

5,500

0

Other financial liabilities

294

/

/

/

0

294

0

Current liabilities

 

 

 

 

 

 

 

Financial liabilities

66,108

/

/

/

0

66,108

0

Trade payables

465,425

/

/

/

0

465,425

0

Liabilities towards related parties

16,245

/

/

/

0

16,245

0

Other financial liabilities

6,383

/

/

/

2,608

3,768

7

Total assets

264,118

235,613

23,472

0

2,038

/

2,995

Total liabilities

564,530

/

/

/

2,608

561,915

7

The measurement of financial assets and liabilities is made in accordance with the availability of relevant information on the basis of the three levels of the fair value hierarchy detailed in IFRS 7 and IFRS 13. For the first level, market prices for identical assets and liabilities can be observed directly on active markets. For the second level, the measurement is made on the basis of valuation models that are determined by parameters observed on the market. The use of valuation models that are not based on input factors that can be observed on the market is covered by the third level. All derivative financial assets and liabilities are classed under level 2. Accepted financial models are used to determine the fair value of derivative financial instruments; as such, only input factors that can be observed (e.g. interest rates, exchange rates) are taken into account. For derivative financial instruments, fair value corresponds to the amount that the Nordzucker Group would receive or have to pay for the transfer at the end of the reporting period.

For cash and other current financial instruments, i.e. trade receivables, financial assets, derivative financial instruments, and other receivables and liabilities, the fair value and the carrying amount on each end of the reporting period are the same.

The net gains or net losses by measurement category are as follows:

Net gains or net losses from financial instruments
  XLS Download

in EUR thousands

1/3/2013
–28/2/2014

1/3/2012
–28/2/2013

Loans and receivables (LaR)

303

189

Available-for-sale financial assets (AfS)

13,734

5,646

Financial assets/liabilities at fair value through profit or loss (FAFVPL/FLFVPL)

–131

–2,582

Financial liabilities measured at amortised cost (FLAC)

–7,341

–7,213

Total

6,565

–3,960

Under financial asset/liabilities at fair value through profit or loss changes in the market value of derivative financial instruments are recognised. This is presented in the income statement under either ‘Financial income’ or ‘Financial expenses’.

Loans and receivables include impairments on receivables, interest from receivables and loans granted, as well as gains or losses from currency translation for receivables. Impairments on receivables and gains or losses resulting from currency translation for receivables are recognised in the income statement under ‘Other income’ or ‘Other expenses’. Interest from receivables and loans granted is presented under ‘Financial income’.

The available-for-sale financial assets include dividends, which are recognised in the income statement under ‘Financial income’ or ‘Financial expenses’.

Interest on loans received is recognised as financial liabilities measured at amortised cost. This is presented in the income statement under ‘Financial expenses’.

Within the income statement, the item ‘Financial income’ or ‘Financial expenses’ includes interest income of EUR 974 thousand (previous year: EUR 411 thousand) and interest expense of EUR 7,341 thousand (previous year: EUR 7,174 thousand) from financial instruments not measured at fair value through profit or loss.

In the reporting period and the comparative period, there was no unwinding (i.e. no interest income from impaired financial assets).