Nokia 2010 Annual Report Download - page 237

16. Fair value of financial instruments (Continued)
The following table presents the valuation methods used to determine fair values of financial
instruments carried at fair value:
At December 31, 2010
Instruments
with quoted
prices in active
markets
(Level 1)
Valuation
technique
using
observable
data
(Level 2)
Valuation
technique
using non
observable
data
(Level 3) Total
EURm EURm EURm EURm
Fixed income and moneymarket investments
carried at fair value ........................ 9215 198 — 9413
Investments at fair value through profit and loss . . 911 — — 911
Availableforsale investments in publicly quoted
equity shares ............................. 8 — — 8
Other availableforsale investments carried at fair
value.................................... — 14 279 293
Derivative assets ............................ — 366 — 366
Total assets ................................ 10134 578 279 10991
Derivative liabilities .......................... — 359 — 359
Total liabilities .............................. — 359 — 359
At December 31, 2009
Instruments
with quoted
prices in active
markets
(Level 1)
Valuation
technique
using
observable
data
(Level 2)
Valuation
technique
using non
observable
data
(Level 3) Total
EURm EURm EURm EURm
Fixed income and moneymarket investments
carried at fair value . ........................ 6933 249 — 7182
Investments at fair value through profit and loss . . . 580 — — 580
Availableforsale investments in publicly quoted
equity shares .............................. 8 — — 8
Other availableforsale investments carried at fair
value..................................... — 15 242 257
Derivative assets ............................. — 316 — 316
Total assets ................................. 7521 580 242 8343
Derivative liabilities . . . ........................ — 245 — 245
Total liabilities ............................... — 245 — 245
Level 1 category includes financial assets and liabilities that are measured in whole or in significant
part by reference to published quotes in an active market. A financial instrument is regarded as
quoted in an active market if quoted prices are readily and regularly available from an exchange,
dealer, broker, industry group, pricing service or regulatory agency and those prices represent actual
and regularly occurring market transactions on an arm’s length basis. This category includes listed
bonds and other securities, listed shares and exchange traded derivatives.
Level 2 category includes financial assets and liabilities measured using a valuation technique based
on assumptions that are supported by prices from observable current market transactions. These
F49
Notes to the Consolidated Financial Statements (Continued)