21. (g) Financial instruments at fair value
The tables below provide an overview of the classification of financial assets and liabilities measured at fair value in the fair value hierarchy under IFRS 13 as of December 31, 2022, as well as December 31, 2021:
Financial instruments - fair value hierarchy | T120 | |||
|---|---|---|---|---|
in EUR thousands | Level 1 1 | Level 2 2 | Level 3 3 | Total as of Dec |
Recurring fair value measurements | ||||
Assets | ||||
Foreign exchange derivatives - held for trading | 125 | 125 | ||
Interest rate swaps – cash flow hedges | 6,162 | 6,162 | ||
Foreign exchange derivatives - cash flow hedges | — | |||
Foreign exchange derivatives - fair value hedges | 588 | 588 | ||
Trade receivables - ABS/Factoring program (mandatorily measured | 20,912 | 20,912 | ||
Total | 0 | 27,787 | 0 | 27,787 |
Liabilities | ||||
Interest rate swaps - cash flow hedges | — | |||
Foreign exchange derivatives - held for trading | 148 | 148 | ||
Foreign exchange derivatives - cash flow hedges | — | |||
Foreign exchange derivatives - fair value hedges | 1,430 | 1,430 | ||
Other financial liabilities | — | |||
Total | 0 | 1,578 | 0 | 1,578 |
1_Fair value measurement based on quoted prices (unadjusted) in active markets for these or identical assets or liabilities. 2_Fair value measurement for the asset or liability based on inputs that are observable on active markets either directly (i.e., as priced) or indirectly (i. e., derived from prices). 3_Fair value measurement for the asset or liability based on inputs that are not observable market data. | ||||
(continued) Financial instruments – fair value hierarchy | ||||
|---|---|---|---|---|
in EUR thousands | Level 1 1 | Level 2 2 | Level 3 3 | Total as of Dec |
Recurring fair value measurements | ||||
Assets | ||||
Foreign exchange derivatives - held for trading | 148 | 148 | ||
Foreign exchange derivatives - fair value hedges | 305 | 305 | ||
Trade receivables - ABS/Factoring program (mandatorily measured | 19,726 | 19,726 | ||
Total | 0 | 20,179 | 0 | 20,179 |
Liabilities | ||||
Interest rate swaps - cash flow hedges | 247 | 247 | ||
Foreign exchange derivatives - fair value hedges | 1,498 | 1,498 | ||
Total | 0 | 1,745 | 0 | 1,745 |
1_Fair value measurement based on quoted prices (unadjusted) in active markets for these or identical assets or liabilities. 2_Fair value measurement for the asset or liability based on inputs that are observable on active markets either directly (i.e., as priced) or indirectly (i. e., derived from prices). 3_Fair value measurement for the asset or liability based on inputs that are not observable market data. | ||||
As in the previous year, there were no transfers between the individual levels of the valuation hierarchies.
The fair value of interest swaps is calculated as the present value of estimated future cash flows. The fair value of forward foreign exchange contracts is determined using a present value model based on forward exchange rates. The fair value of the forward exchange transactions is calculated using the forward exchange rate on the balance sheet date and the result is then presented at the discounted present value.
Legend
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.