Note 4 – 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 2018, note 34. The fair value of financial assets and liabilities is estimated to be, in principle, the same as their recognized values.

Group Jun 30 2019 Jun 30 2018 Dec 31 2018
MSEK Level 2 Level 3 Total Level 2 Level 3 Total Level 2 Level 3 Total
Koncernen 30 jun 2019 30 jun 2018 31 dec 2018
Mkr Nivå 2 Nivå 3 Summa Nivå 2 Nivå 3 Summa Nivå 2 Nivå 3 Summa
Financial assets Finansiella tillgångar
Other securities held as fixed assets Andra långfristiga värdepappersinnehav 92 92 92 92 109 109
Of which investments in unlisted funds Varav onoterade fonder 72 72 71 71 89 89
Of which shareholding in unlisted company Varav onoterade aktier 20 20 21 21 20 20
Other long-term receivables Andra långfristiga fordringar 6 6
Of which commodity hedging with futures Varav råvarusäkring med termin 6 6
Other current receivables Övriga kortfristiga fordringar 5 5 1 1 1 1
Of which commodity hedging with futures Varav råvarusäkring med termin 3 3
Of which currency swaps Varav valutaswappar 2 2 1 1 1 1
Other securities held as current assets Andra kortfristiga värdepappersinnehav 189 189
Of which repurchased shares in tenant-owner associations Varav återköpta andelar i bostadsrättsföreningar 189 189
Total financial assets Summa finansiella tillgångar 5 281 286 7 92 99 1 109 110
Financial liabilities Finansiella skulder
Other long-term liabilities Övriga långfristiga skulder 17 17 29 23 52 22 23 45
Of which interest rate swaps Varav ränteswappar 17 17 29 29 18 18
Of which commodity hedging with futures Varav råvarusäkring med termin 4 4
Of which contingent consideration Varav villkorad köpeskilling 23 23 23 23
Other current liabilities Övriga kortfristiga skulder 1 8 9 2 11 13 1 11 12
Of which currency swaps Varav valutaswappar 1 1 2 2 1 1
Of which contingent consideration Varav villkorad köpeskilling 8 8 11 11 11 11
Total financial liabilities Summa finansiella skulder 18 8 26 31 34 65 23 34 57

The tables below are a reconciliation between the opening and closing balance for assets and liabilities included in level 3.

1) Have corresponded to project provisions of SEK 224 million and therefore the net effect in the income statement is SEK -13 million.
1) Recognized in net financial items

The contingent consideration will amount to at least SEK 3 million and at most SEK 12 million.