Investor Presentaiton
100
A.P. Moller-Maersk Annual Report 2020
Financials
Consolidated financial statements
Notes index
Note 17 Financial instruments by category - continued
Table 17.2
Movement during the year in level 3
Other equity
investments
(FVOCI)
Other
receivables
Total
financial
Other
payables
assets
Total
financial
liabilities
Table 17.2
Carrying amount 1 January 2019
26
4
30
Addition
38
-1
37
Disposal
Gains/losses recognised in the
income statement
1
1
Gains/losses recognised in other
comprehensive income
Transfer, assets held for sale
-3
-0
Exchange rate adjustment, etc.
-2
Carrying amount 31 December 2019
59
3
MONN
-3
-0
-2
62
1
1
Addition
32
Disposal
4
32
55
55
4
Gains/losses recognised in the
income statement
.
3
3
Gains/losses recognised in other
comprehensive income
2
Transfer, assets held for sale
Exchange rate adjustment, etc.
Carrying amount 31 December 2020
89
3
92
NIIN
2
-1
58
58
Amounts in USD million =
-1
Financial instruments measured at fair value
Financial instruments measured at fair value can be
divided into three levels:
Level 1 - Quoted prices (unadjusted) in active markets
for identical assets or liabilities,
Level 2 - Inputs other than quoted prices included
within level 1 that are observable for the
asset or liability, either directly (i.e. as prices)
or indirectly (i.e. derived from prices) and
Level 3 - Inputs for the asset or liability that are not
based on observable market data.
Fair value of listed securities is within level 1 of the fair
value hierarchy. Non-listed shares and other securities are
within level 3 of the fair value hierarchy.
Fair value of derivatives is mainly within level 2 of the fair
value hierarchy and is calculated based on observable
market data as of the end of the reporting period. A minor
amount of crude oil price derivatives is within level 1 of
the fair value hierarchy.
Fair value of level 3 assets and liabilities is primarily
based on the present value of expected future cash flows.
A reasonably possible change in the discount rate is not
estimated to affect the Group's profit or equity signifi-
cantly.
Financial instruments carried at amortised cost
Fair value of the short-term financial assets and other
financial liabilities carried at amortised cost is not mate-
rially different from the carrying amount. In general, fair
value is determined primarily based on the present value
of expected future cash flows. Where a market price was
available, however, this was deemed to be the fair value.
Fair value of listed issued bonds is within level 1 of the
fair value hierarchy. Fair value of the remaining borrowing
items is within level 2 of the fair value hierarchy, and is
calculated based on discounted future cash flows.View entire presentation