Mercedes 2012 Annual Report Download - page 238

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7 | Consolidated Financial Statements | Notes to the Consolidated Financial Statements
Table  7.71 provides an overview of the classification of
financial assets and liabilities measured at fair value in the fair
value hierarchy (according to IFRS 7).
The development of financial assets recognized at fair value
through profit or loss and classified as level 3 can be seen
in table  7.72.
The financial assets shown as classified as level 3 and pre-
sented in the table  7.72 consist solely of Daimler’s option
to sell the shares it holds in Engine Holding to Rolls-Royce.
Parameters with a significant influence on the measurement
of the option are the value of Engine Holding as determined with
the use of a discounted cash flow method and the expected
volatility of that value. A sensitivity analysis shows that a 10%
increase in the value of Engine Holding would lead to a reduction
in the value of the option of €37 million. On the other hand,
a 10% decrease in the value of Engine Holding would increase
the value of the option by €47 million. A 10% increase in the
expected volatility of the value of Engine Holding would lead to
an increase in the value of the option of €40 million. However,
a 10% decrease in the expected volatility of the value of Engine
Holding would reduce the value of the option by €41 million.
The carrying amounts of financial instruments presented
according to IAS 39 measurement categories are shown in
table  7.73 .
Net gains or losses
Table  7.74 shows the net gains or losses of financial
instruments included in the consolidated statement of income
(not including derivative financial instruments used in hedge
accounting):
Net gains and losses of financial assets and liabilities recog-
nized at fair value through profit or loss primarily include gains
and losses attributable to changes in fair value.
Net gains and losses on financial assets available for sale
include realized income from equity instruments and gains
or losses from their disposal.
Net gains and losses on loans and receivables mainly comprise
impairment losses and recoveries that are charged to cost
of sales, selling expenses and other financial income/expense,
net.
Net gains and losses on financial liabilities measured
at cost mainly comprise gains and losses from the valuation
of liabilities denominated in foreign currencies.
Net gains/losses
2012 2011
In millions of euros
Financial assets and liabilities recognized
at fair value through profit or loss1
274
-140
Financial assets available for sale 122 -9
Loans and receivables -304 -188
Financial liabilities measured at cost -305 29
1 Financial instruments classified as held for trading purposes.
These figures comprise financial instruments that are not used
in hedge accounting.
7. 74
Carrying amounts of financial instruments presented
according to IAS 39 measurement categories
At December 31,
2012 2011
In millions of euros
Assets
Receivables from financial services137,092 34,234
Trade receivables 7,543 7,849
Other receivables and assets 2,224 2,115
Loans and receivables 46,859 44,198
Marketable debt securities 5,598 2,281
Other financial assets 2,031 1,940
Available-for-sale financial assets 7,629 4,221
Financial assets recognized at fair value
through profit or loss2
341
350
Liabilities
Trade payables 8,832 9,515
Financing liabilities375,876 61,703
Other financial liabilities47,407 7,293
Financial liabilities measured at cost 92,115 78,511
Financial liabilities recognized at fair value
through profit or loss2
253
866
The table above does not include cash and cash equivalents or the carrying
amounts of derivative financial instruments used in hedge accounting
as these financial instruments are not assigned to an IAS 39 measurement
category.
1 This does not include lease receivables of €11,968 million
(2011: €11,333 million) as these are not assigned to an IAS 39
measurement category.
2 Financial instruments classified as held for trading purposes.
These figures comprise financial instruments that are not used
in hedge accounting.
3 This does not include liabilities from finance leases of €375 million
(2011: €464 million) as these are not assigned to an IAS 39
measurement category.
4 This does not include liabilities from financial guarantees of €111 million
(2011: €249 million) as these are not assigned to an IAS 39
measurement category.
7. 7 3