Other disclosures
29. Financial instruments and risk management
Carrying amounts, valuations and fair values according to measurement category
| in € thousands | Balance sheet amount in line with IAS 39 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Valuation category in line with IAS 39 |
Carrying amount 31 Dec 2008 |
Carried cost | Costs | Fair value reported in equity |
Fair value recognised in income |
Fair value 31 Dec 2008 |
Carrying amount 31 Dec 2007 |
Carried cost | Costs | Fair value reported in equity |
Fair value 31 Dec 2007 |
|
| Financial assets | ||||||||||||
| Non-current financial assets | ||||||||||||
| Investments in equity-accounted associates | AfS | 30,316 | 3,145 | 15,381 | 11,790 | 30,316 | 32,851 | 4,759 | 15,381 | 12,711 | 32,851 | |
| Trade receivables | AfS | 3,740 | 1,095 | 3,900 | -1,255 | 3,740 | ||||||
| Other current assets * | LaR | 2,717 | 2,717 | 2,717 | 3,179 | 3,179 | 3,179 | |||||
| Other financial investments | LaR | 2,093 | 1,034 | 1,059 | 2,093 | 15,951 | 12,026 | 3,925 | 15,951 | |||
| Cash and cash equivalents | hfT | 1,740 | 1,740 | 1,740 | 3,681 | 3,681 | 3,681 | |||||
| LaR | 41,671 | 41,671 | 41,671 | 108,993 | 108,993 | 108,993 | ||||||
| Financial liabilities | ||||||||||||
| Bank loans and overdrafts | ||||||||||||
| Right to redeem of limited partners | FLAC | 899,808 | 899,808 | 940,764 | 895,952 | 895,952 | 897,972 | |||||
| Current trade payables | FLAC | 117,320 | 117,320 | 117,320 | 113,249 | 113,249 | 113,249 | |||||
| Other non-current liabilities * | FLAC | 3,039 | 3,039 | 3,039 | 8,651 | 8,651 | 8,651 | |||||
| FLAC | 25,001 | 10,455 | 14,546 | 25,001 | 3,936 | 3,625 | 311 | 3,936 | ||||
| Aggregated according to measurement category in line with IAS 39: | ||||||||||||
| Loans and receivables (LaR) | 46,481 | 45,422 | 1,059 | 46,481 | 128,123 | 124,198 | 3,925 | 128,123 | ||||
| Available-for-Sale (AfS) | 34,056 | 4,240 | 19,281 | 11,790 | -1,255 | 34,056 | 32,851 | 4,759 | 15,381 | 12,711 | 32,851 | |
| held-for-Trading (hfT) | 1,740 | 1,740 | 1,740 | 3,681 | 3,681 | 3,681 | ||||||
| Financial liabilities measured at amortised cost (FLAC) | 1,045,168 | 1,030,622 | 14,546 | 1,086,124 | 1,021,788 | 1,021,477 | 311 | 1,023,808 | ||||
| * Only financial instruments in line with IAS 39/IFRS 7 | ||||||||||||
Non-current financial assets include an investment defined as available-for-sale, which was reported in equity on the balance sheet date. In addition, the investment in a property company in Poland was recognised at amortised cost corresponding to fair value.
Investments measured using the equity method for the first time are reported at fair value. Any write-downs in the period under review are recognised in net profit or loss for the period.
Trade receivables, other assets and cash and cash equivalents have predominantly short residual terms, unlike interest rate swaps, which are accounted for at present value. The carrying amounts thus correspond to the fair value.
Other assets and other financial investments include non-current amounts which have been recognised at present value, taking into account the interest and market price parameters applicable on the reporting date.
Bank loans and overdrafts have long-term durations and are recognised at cost. The fair value for Group loans is given in the Notes under item 12 Bank loans and overdrafts. In total, interest expense of €46,079 thousand is included in net finance costs.
Trade payables and other liabilities usually have short residual terms, unlike interest rate swaps, which are accounted for at present value. The carrying amounts thus correspond to the fair value.
Other liabilities include non-current amounts which have been recognised at present value, taking into account the interest and market price parameters applicable on the reporting date.
Interest from financial instruments is reported in net financial costs. The profit/loss share of minority shareholders of €6,191 thousand is included in net finance costs.
Allowances on receivables are reported in other operating expenses.