Note 13. Classification of financial assets and liabilities
| Financial assets | |||||||
| Measured at | |||||||
| Fair value through | Amortised cost | ||||||
| Consolidated | Valuation hierarchy level | Profit or loss | Other comprehensive income | ||||
| SEK millions | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |
| Non-current assets |
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| Other non-current assets |
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| Other long-term securities | 1 and 2 | – | – | 280 | 270 | – | – |
| Derivative assets | 2 | 20 | – | 147 | 95 | – | – |
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| Current assets |
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| Current receivables |
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| Accounts receivable | * | – | – | – | – | 10,282 | 9,717 |
| Notes receivable | * | – | – | – | – | 336 | 435 |
| Other receivables | * | – | – | – | – | 5,036 | 4,903 |
| Accrued income | * | – | – | – | – | 34 | 45 |
| Derivative assets | 2 | 14 | 111 | 300 | 494 | – | – |
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| Current deposits |
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| Deposits with banks | * | – | – | – | – | 586 | 187 |
| Bonds and other securities | 1 | 132 | 114 | – | – | – | – |
| Debt instruments | * | – | – | – | – | 4 | 3 |
| Other deposits | * | – | – | – | – | 6 | 7 |
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| Cash and cash equivalents | * | – | – | – | – | 5,135 | 4,352 |
| Total financial assets | 166 | 225 | 727 | 859 | 21,419 | 19,649 | |
| Financial liabilities | |||||||
| Measured at | |||||||
| Fair value through | Amortised cost | ||||||
| Consolidated | Valuation hierarchy level | Profit or loss | Other comprehensive income | ||||
| SEK millions |
| 2023 | 2022 | 2023 | 2022 | 2023 | 2022 |
| Non-current liabilities |
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| Liabilities to credit institutions etc | * | – | – | – | – | 9,829 | 13,362 |
| Lease liabilities | * | – | – | – | – | 1,473 | 1,549 |
| Derivative liabilities | 2 | 7 | 5 | 46 | 135 | – | – |
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| Current liabilities |
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| Liabilities to credit institutions etc | * | – | – | – | – | 3,444 | 1,700 |
| Accounts payable | * | – | – | – | – | 4,871 | 4,891 |
| Notes payable | * | – | – | – | – | 334 | 423 |
| Lease liabilities | * | – | – | – | – | 1,128 | 1,122 |
| Other liabilities | 3 | 117 | – | – | – | 5,979 | 5,269 |
| Accrued costs | * | – | – | – | – | 2,552 | 2,753 |
| Derivative liabilities | 2 | 25 | 94 | 501 | 599 | – | – |
| Total financial liabilities | 149 | 99 | 547 | 734 | 29,610 | 31,069 | |
* Valued at amortised cost.
Valuation hierarchy level 1 is according to quoted prices in active markets for identical assets and liabilities.
Valuation hierarchy level 2 is out of directly or indirectly observable market data outside level 1.
Valuation hierarchy level 3 is out of unobservable market data.
Derivatives measured through other comprehensive income only relate to cash flow hedges. Other liabilities measured at fair value through profit or loss is relating to a liability for the seller’s earn-out possibility in connection with an acquisition of businesses.
All of the financial instruments above sum up either to the corresponding item in the statement on financial position or to the item specified in the notes referred to in the statement on financial position. The risks linked to these financial instruments including any concentrations of risk are presented in the sections on risks on pages 137–147.
Result of financial instruments
The result of the bonds and other current and non-current securities measured at fair value through profit or loss is found in Note 10 as fair value changes in securities.
The result of financial assets measured at amortised cost is presented in Note 11 as other interest income for deposits with banks, other deposits and cash and cash equivalents. The other financial assets measured at amortised cost do not generate a result but only a cash-in of the principal amount.
The result of the financial liabilities measured at amortised cost is presented in Note 11 as other interest costs for the liabilities to credit institutions etc. The other financial liabilities measured at amortised cost do not generate a result but only a cash-out of the principal amount.
The result of the derivative instruments impacting net income is presented below:
| Result effect on net income of derivatives | ||
| Consolidated | ||
| SEK millions | 2023 | 2022 |
| Reported in cost of goods sold, relating to: |
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| Currency forward contracts | -734 | -470 |
| Metal forward contracts | -40 | 392 |
| Electricity futures | 11 | 40 |
| Derivative assets and liabilities measured at fair value through profit or loss | -59 | 42 |
| Subtotal | -822 | 4 |
| Reported in interest income in the financial net, relating to: |
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| Currency swaps | – | 23 |
| Subtotal | – | 23 |
| Reported in exchange gains and losses in the financial net, relating to: |
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| Currency forward contracts and options | -109 | – |
| Derivative assets and liabilities measured at fair value through profit or loss | 43 | -42 |
| Subtotal | -66 | -42 |
| Total impact on net income | -888 | -15 |
The result of the derivative assets and liabilities measured at fair value through other comprehensive income is reported as part of other comprehensive income in the consolidated comprehensive income statement.