Reebok 2015 Annual Report Download - page 234

230
4
CONSOLIDATED FINANCIAL STATEMENTS
Notes – Notes to the Consolidated Statement of Financial Position
FAIR VALUE HIERARCHYOF FINANCIAL INSTRUMENTSACCORDINGTO IFRS 13 ASAT DECEMBER 31, 2015
€ in millions Fair value
Dec. 31, 2015
Level 1 Level 2 Level 3
Short-term financial assets 5 5
Derivative financial instruments
Derivatives being part of a hedge 181 181
Derivatives not being part of a hedge 47 47
Long-term financial assets 117 36 81
Promissory notes 42 42
Financial assets 392 269 123
Short-term borrowings 366 366
Derivative financial instruments
Derivatives being part of a hedge 36 36
Derivatives not being part of a hedge 26 26
Long-term borrowings 1,626 1,626
Earn-out components 21 21
Financial liabilities 2,075 1,626 428 21
Level 1 is based on quoted prices in active markets for identical assets or liabilities.
Level 2 is based on 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).
Level 3 is based on inputs for the asset or liability that are not based on observable market data (unobservable inputs).
FAIR VALUE HIERARCHYOF FINANCIAL INSTRUMENTSACCORDINGTO IFRS 13 ASAT DECEMBER 31, 2014
€ in millions Fair value
Dec. 31, 2014
Level 1 Level 2 Level 3
Short-term financial assets 5 5
Derivative financial instruments
Derivatives being part of a hedge 229 229
Derivatives not being part of a hedge 56 56
Long-term financial assets 113 33 80 1
Financial assets 403 323 80
Short-term borrowings 294 294
Derivative financial instruments
Derivatives being part of a hedge 44 44
Derivatives not being part of a hedge 11 11
Long-term borrowings 1,674 1,545 129
Financial liabilities 2,023 1,545 478
Fair value
Jan. 1, 2014 Gains Losses
Fair value
Dec. 31, 2014
1 This category relates to an 8.33% investment in FC Bayern München AG of
€ 80 million. Dividends are distributed by FC Bayern München AG instead
of regular interest payments. These dividends are recognised in other
financial income. 80 1 – 80
Level 1 is based on quoted prices in active markets for identical assets or liabilities.
Level 2 is based on 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).
Level 3 is based on inputs for the asset or liability that are not based on observable market data (unobservable inputs).