11. Financial Instruments

The tables below show the carrying amounts and fair values of financial assets and financial liabilities, as well as their level in the fair value hierarchy.

Financial Assets as of 30 June 2017

in € thousand

 

Carrying amount

 

Fair Value

 

 

Loans and receiv­ables

 

Available
for sale

 

Balance sheet
value

 

Level 1

 

Level 2

 

Level 3

 

Total

Financial assets measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets (securities)

 

 

 

4,001

 

4,001

 

4,001

 

 

 

 

 

4,001

 

 

0

 

4,001

 

4,001

 

 

 

 

 

 

 

 

Financial assets not measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

14,826

 

2,896

 

17,722

 

 

 

 

 

 

 

 

Trade receivables

 

160,030

 

 

 

160,030

 

 

 

 

 

 

 

 

Receivables from related parties

 

80,985

 

 

 

80,985

 

 

 

 

 

 

 

 

Other financial receivables

 

2,896

 

 

 

2,896

 

 

 

 

 

 

 

 

Cash, cash equivalents and short-term deposits

 

166,082

 

 

 

166,082

 

 

 

 

 

 

 

 

 

 

424,819

 

2,896

 

427,715

 

 

 

 

 

 

 

 

Financial Liabilities as of 30 June 2017

in € thousand

 

Carrying amount

 

Fair Value

 

 

Held for trading

 

Fair value –
hedging instruments

 

Other financial
liabilities

 

Balance sheet
value

 

Level 1

 

Level 2

 

Level 3

 

Total

Financial liabilities measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

0

 

 

 

 

 

 

 

0

 

 

0

 

0

 

0

 

0

 

 

 

 

 

 

 

 

Financial liabilities not measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities
(liabilities from bank loans)

 

 

 

 

 

277,025

 

277,025

 

 

 

281,928

 

 

 

281,928

Financial liabilities
(finance lease liabilities)

 

 

 

 

 

39,481

 

39,481

 

 

 

39,481

 

 

 

39,481

Financial liabilities (settlement obligation)

 

 

 

 

 

18,045

 

18,045

 

 

 

18,045

 

 

 

18,045

Financial liabilities (other)

 

 

 

 

 

42,485

 

42,485

 

 

 

42,485

 

 

 

 

Trade liabilities

 

 

 

 

 

68,043

 

68,043

 

 

 

 

 

 

 

 

Liabilties to related parties
(finance lease liabilties)

 

 

 

 

 

106,120

 

106,120

 

 

 

142,393

 

 

 

142,393

Liabilities to related parties (other)

 

 

 

 

 

6,778

 

6,778

 

 

 

 

 

 

 

 

 

 

0

 

0

 

557,977

 

557,977

 

 

 

 

 

 

 

 

Financial Assets as of 31 December 2016

in € thousand

 

Carrying amount

 

Fair Value

 

 

Loans and receiv­ables

 

Available
for sale

 

Balance sheet
value

 

Level 1

 

Level 2

 

Level 3

 

Total

Financial assets measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets (securities)

 

 

 

3,940

 

3,940

 

3,940

 

 

 

 

 

3,940

 

 

0

 

3,940

 

3,940

 

 

 

 

 

 

 

 

Financial assets not measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

14,434

 

2,896

 

17,330

 

 

 

 

 

 

 

 

Trade receivables

 

160,440

 

 

 

160,440

 

 

 

 

 

 

 

 

Receivables from related parties

 

81,736

 

 

 

81,736

 

 

 

 

 

 

 

 

Other financial receivables

 

2,172

 

 

 

2,172

 

 

 

 

 

 

 

 

Cash, cash equivalents and short-term deposits

 

177,192

 

 

 

177,192

 

 

 

 

 

 

 

 

 

 

435,974

 

2,896

 

438,870

 

 

 

 

 

 

 

 

Financial Liabilities as of 31 December 2016

in € thousand

 

Carrying amount

 

Fair Value

 

 

Held for trading

 

Fair value –
hedging instruments

 

Other financial
liabilities

 

Balance sheet
value

 

Level 1

 

Level 2

 

Level 3

 

Total

Financial liabilities measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

0

 

 

 

 

 

 

 

0

 

 

0

 

0

 

0

 

0

 

 

 

 

 

 

 

 

Financial liabilities not measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities
(liabilities from bank loans)

 

 

 

 

 

298,350

 

298,350

 

 

 

304,780

 

 

 

304,780

Financial liabilities
(finance lease liabilities)

 

 

 

 

 

39,043

 

39,043

 

 

 

39,043

 

 

 

39,043

Financial liabilities (settlement obligation, long-term)

 

 

 

 

 

18,045

 

18,045

 

 

 

18,045

 

 

 

18,045

Financial liabilities (settlement obligation, short-term)

 

 

 

 

 

22,603

 

22,603

 

 

 

 

 

 

 

 

Financial liabilities (other)

 

 

 

 

 

37,723

 

37,723

 

 

 

37,723

 

 

 

37,723

Trade liabilities

 

 

 

 

 

68,106

 

68,106

 

 

 

 

 

 

 

 

Liabilties to related parties
(finance lease liabilties)

 

 

 

 

 

106,304

 

106,304

 

 

 

149,820

 

 

 

149,820

Liabilities to related parties (other)

 

 

 

 

 

8,950

 

8,950

 

 

 

 

 

 

 

 

 

 

0

 

0

 

599,124

 

599,124

 

 

 

 

 

 

 

 

In the first half of 2017, gains of € 742 thousand (30 June 2016: € 36 thousand) were recognised in the income statement on financial assets and/or liabilities held at fair value through profit and loss. These primarily related to interest rate hedges in the previous year, while currency futures with no effective hedging relationship as per IAS 39 made up the bulk in the first half of 2017.

Currency futures contracts concluded in the reporting period covering a total amount of € 1,638 thousand have a remaining term of approximately three years.

In the first half of 2016, changes of € 118 thousand in the fair value of financial instruments designated as hedging instruments (interest rate swaps) were taken directly to equity. There were no interest rate swaps in the first six months of 2017.

The valuation methods and key unobservable input factors for calculating fair value are described in the Notes to the Consolidated Financial Statements as of 31 December 2016.