TomTom 2013 Annual Report Download - page 78

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33. Financial instruments by category
The following table presents the group's financial instruments according to the categories as defined in IAS 39:
(€ in thousands) Loans and
receivables
Assets/liabilities at
fair value through
profit or loss
Other financial
assets/liabilities at
amortised cost
Total
AS AT 31 DECEMBER 2013
ASSETS
Other financial assets 0 376 0 376
Trade receivables 115,429 0 0 115,429
Cash and cash equivalents 257,785 0 0 257,785
TOTAL 373,214 376 0 373,590
LIABILITIES
Trade payables 0 0 82,337 82,337
Other financial liabilities 0 236 0 236
Borrowings 0 0 173,437 173,437
TOTAL 0 236 255,774 256,010
AS AT 31 DECEMBER 2012
ASSETS
Other financial assets 0 444 0 444
Trade receivables 149,834 0 0 149,834
Cash and cash equivalents 164,459 0 0 164,459
TOTAL 314,293 444 0 314,737
LIABILITIES
Trade payables 0 0 84,162 84,162
Other financial liabilities 0 85 0 85
Borrowings 0 0 247,140 247,140
TOTAL 0 85 331,302 331,387
Fair value estimation
The group classifies fair value measurements using a fair value hierarchy that reflects the significance of the inputs used in making the
measurements. The fair value hierarchy should have the following levels:
• Level 1: quoted prices (unadjusted) in active markets for identical assets and liabilities;
• Level 2: inputs other than quoted prices that are observable for the asset or liability, either directly (for example, as prices) or indirectly (for
example, derived from prices); and
• Level 3: inputs for the asset or liability that are not based on observable market data.
The fair value of financial assets/liabilities carried at fair value through profit or loss and the derivatives in a hedging relationship is determined
using valuation techniques that maximise the use of observable market data where it is available and which rely as little as possible on entity-
specific estimates. In accordance with the fair value hierarchy established by IFRS 7, these types of inputs classify as Level 2 inputs.
Notes to the Consolidated Financial Statements / Continued
ANNUAL REPORT AND ACCOUNTS 2013 / 78