DHL 2015 Annual Report Download - page 202
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Deutsche Post Group — Annual Report
Financial assets and liabilities
m
Level 1 1 Level 2 2 Level 3 3 Total
Class
December
Financial assets
Non-current financial assets 153 866 83 1,102
Current financial assets 27 42 0 69
Total 180 908 83 1,171
Financial liabilities
Non-current liabilities 4,232 338 0 4,570
Current liabilities 0 107 0 107
Total 4,232 445 0 4,677
December
Financial assets
Non-current financial assets 246 961 132 1,339
Current financial assets 208 75 0 283
Total 454 1,036 132 1,622
Financial liabilities
Non-current liabilities 5,004 409 0 5,413
Current liabilities 0 132 1 133
Total 5,004 541 1 5,546
1 Quoted prices for identical instruments in active markets.
2 Inputs other than quoted prices that are directly or indirectly observable for instruments.
3 Inputs not based on observable market data.
Level mainly comprises equity instruments measured at fair value
and debt instruments measured at amortised cost.
In addition to nancial assets and nancial liabilities measured
at amortised cost, commodity, interest rate and currency derivatives
are reported under Level . e fair values of the derivatives are
measured on the basis of discounted expected future cash ows,
taking into account forward rates for currencies, interest rates and
commodities (market approach). For this purpose, price quotations
observable on the market (exchange rates, interest rates and com-
modity prices) are imported from information platforms customary
in the market into the treasury management system. e price
quotations reect actual transactions involving similar instruments
on an active market. Any currency options used are measured using
the Black-Scholes option pricing model. All signicant inputs used
to measure the derivatives are observable on the market.
Level mainly comprises the fair values of equity investments
and options associated with transactions. ese options are
measured using recognised valuation models, taking plausible as-
sumptions into account. e fair values of the derivatives depend
largely on nancial ratios. Financial ratios strongly inuence the fair
values of assets and liabilities. Increasing nancial ratios lead to
higher fair values, whilst decreasing nancial ratios result in lower
fair values.
No nancial instruments were transferred between levels in
nancial year . e following table shows the eect on net gains
and losses of the nancial instruments categorised within level as
at the reporting date:
192