Note 3 – Financial assets and liabilities valued at fair value
The table below shows the allocated level for financial assets and financial liabilities recognized at fair value in the Group’s balance sheet. Measurement of fair value is based on a three level hierarchy;
Level 1: prices that reflect quoted prices on an active market for identical assets.
Level 2: based on direct or indirect inputs observable to the market not included in level 1.
Level 3: based on inputs unobservable to the market.
For a description of how fair value has been calculated see the Annual Report 2016, note 34. The fair value of financial assets and liabilities is estimated to be, in principle, the same as their booked values.
| Group | 31 Mar 2017 | 31 Mar 2016 | 31 Dec 2016 | |||||||||
| MSEK | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total |
| Assets | ||||||||||||
| Other securities held as fixed assets | 432 | 55 | 487 | 318 | 29 | 347 | 480 | 54 | 534 | |||
| Whereof shareholding in listed company | 432 | 432 | 318 | 318 | 480 | 480 | ||||||
| Whereof investment in an unlisted fund | 55 | 55 | 29 | 29 | 54 | 54 | ||||||
| Other current receivables | 1 | 1 | – | 12 | 12 | |||||||
| Whereof currency swaps | 1 | 1 | – | 12 | 12 | |||||||
| Total assets | 432 | 1 | 55 | 488 | 318 | – | 29 | 347 | 480 | 12 | 54 | 546 |
| Liabilities | ||||||||||||
| Other long-term liabilities | 80 | 26 | 106 | 149 | 149 | 95 | 23 | 118 | ||||
| Whereof commodity hedging with futures | – | 8 | 8 | – | ||||||||
| Whereof interest rate swaps | 80 | 80 | 141 | 141 | 95 | 95 | ||||||
| Whereof contingent consideration | 26 | 26 | – | 23 | 23 | |||||||
| Other current liabilities | 3 | 3 | 1 | 1 | 0 | 0 | ||||||
| Whereof currency swaps | 3 | 3 | 1 | 1 | 0 | 0 | ||||||
| Total liabilities | – | 83 | 26 | 109 | – | 150 | – | 150 | – | 95 | 23 | 118 |
| Parent company | 31 Mar 2017 | 31 Mar 2016 | 31 Dec 2016 | |||||||||
| MSEK | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total |
| Assets | ||||||||||||
| Other securities held as fixed assets | 432 | 432 | 318 | 318 | 480 | 480 | ||||||
| Whereof shareholding in listed company | 432 | 432 | 318 | 318 | 480 | 480 | ||||||
| Total assets | 432 | – | – | 432 | 318 | – | – | 318 | 480 | – | – | 480 |
The tables below is a reconciliation between the opening and closing balance for assets and liabilities included in level 3.
| Group | Other securities held as fixed assets | ||
| MSEK | 31 Mar 2017 | 31 Mar 2016 | 31 Dec 2016 |
| Opening balance | 54 | 49 | 49 |
| Investments during the period | 1 | 1 | 38 |
| Dividends received | – | -37 | -51 |
| Reported in profit for the period * | – | 20 | 22 |
| Reported in other comprehensive income | – | -4 | -4 |
| Closing balance | 55 | 29 | 54 |
* Reported in net financial items
| Group | Contingent consideration | ||
| MSEK | 31 Mar 2017 | 31 Mar 2016 | 31 Dec 2016 |
| Opening balance | 23 | – | – |
| Acquisitions for the period | 3 | 24 | |
| Reported in profit for the period | |||
| Other operating income | – | -1 | |
| Interest expense (discount) * | 0 | 0 | |
| Closing balance | 26 | – | 23 |
The contingent consideration will amount to at least SEK 0 million and at most SEK 30 million.
* Reported in net financial items