Nokia 2012 Annual Report Download - page 278

The table below presents the breakdown of the outstanding fixed income and money market
investments by sector and credit rating grades ranked as per Moody’s rating categories.
At December 31,
2012 Rating (3) Total amount(1),(2)
Due within
3 months
Due between
3 and
12 months
Due between
1 and
3 years
Due between
3 and
5 years
Due beyond
5 years
EURm EURm EURm EURm EURm EURm
Banks .......... Aaa 1401 1401 — — — —
Aa1-Aa3 756 755 1 — — —
A1-A3 1 106 1 082 24 — — —
Baa1-Baa3 942 940 — — 2 —
Non rated 215 215 — — — —
Governments . . . Aaa 1 572 1 342 31 42 18 139
Aa1-Aa3 401 37 57 24 283 —
Other ........... Aaa — — — — — —
Aa1-Aa3 — — — — — —
A1-A3 10 — — 10 — —
Baa1-Baa3 — — — — — —
Ba1-C — — — — — —
Non rated 2 — 2 — — —
Total ........... 6 405 5 772 115 76 303 139
At December 31,
2011 Rating(3) Total amount(1),(2)
Due within
3 months
Due between
3 and
12 months
Due between
1 and
3 years
Due between
3 and
5 years
Due beyond
5 years
EURm EURm EURm EURm EURm EURm
Banks .......... Aaa 1368 1368 — — — —
Aa1-Aa3 1 319 1 316 — 1 2 —
A1-A3 1 706 1 706 — — — —
Baa1-Baa3 616 616 — — — —
Non rated 270 260 10 — — —
Governments . . . Aaa 3 224 2 508 221 50 266 179
Aa1-Aa3 408 400 6 2 — —
Other ........... Aaa — — — — — —
Aa1-Aa3 11 — — — — 11
A1-A3 18 — — 12 — 6
Baa1-Baa3 2 — — — — 2
Ba1-C 1 — — — — 1
Non rated 2 — 2 — — —
Total ........... 8 945 8 174 239 65 268 199
(1) Fixed income and money-market investments include term deposits, investments in liquidity funds
and investments in fixed income instruments classified as available-for-sale investments and
investments at fair value through profit and loss. Liquidity funds invested solely in government
securities are included under Governments. Other liquidity funds are included under Banks.
(2) Included within fixed income and money-market investments is EUR 77 million of restricted
investment at December 31, 2012 (EUR 40 million at December 31, 2011). They are restricted
financial assets under various contractual or legal obligations.
(3) Bank parent company ratings used here for bank groups. In some emerging markets countries
actual bank subsidiary ratings may differ from parent company rating.
95% of Nokia’s cash in bank accounts is held with banks of investment grade credit rating (92% for
2011).
F-77