P10. Other financial assets

The total carrying value changed as follows.

SEK in millions

Dec 31, 2016

Dec 31, 2015

Dec 31, 2016

Dec 31, 2015

Dec 31, 2016

Dec 31, 2015

Dec 31, 2016

Dec 31, 2015

Investments in
associated companies and joint ventures

Investments in other equity instruments

Investments in
subsidiaries and
other non-current
financial assets

Total

Carrying value, opening balance

267

280

1,077

67

161,346

155,007

162,690

155,355

New share issues and shareholder contributions

3

1,359

4,275

1,359

4,278

Repayment of capital

-2

-501

-380

-503

-380

Repayment of borrowings and interest

-3

-3

Additions

32

112

1,023

9,977

12,238

10,089

13,293

Disposals

-15

-49

-9,309

-3,684

-9,324

-3,733

Impairment losses

-197

-5

-13

-2,623

-207

-2,825

-220

Reclassifications to short-term investments

0

851

-5,911

851

-5,911

Changes in fair value

0

3

-65

9

-62

9

Carrying value, closing balance

54

267

1,186

1,077

161,031

161,346

162,273

162,690

For other financial assets, fair values equal carrying values. The total carrying values of other financial assets were distributed as follows.

SEK in millions

Carrying value

Dec 31, 2016

Dec 31, 2015

Investments in other equity instruments available-for-sale

1,160

1,052

Investments in other equity instruments held-for-trading

26

25

Bonds available-for-sale

10,185

8,841

Interest rate and cross currency interest rate swaps at fair value

4,453

4,742

of which designated as fair value hedges

1,039

1,193

of which held-for-trading

2,116

1,918

of which designated as cash flow hedges

1,298

1,631

Derivatives held-for-trading

65

Currency swaps and forward exchange contracts held-for-trading

Subtotal (see Fair value hierarchy levels – Note P19)

15,823

14,725

Loans and receivables at amortized cost

54

51

Subtotal (see Categories – Note P19 and Credit risk – Note P20)

15,877

14,776

Investments in subsidiaries

139,239

144,226

Receivables from subsidiaries

7,103

3,421

Investments in associated companies

54

267

Total other financial assets

162,273

162,690

of which interest-bearing

22,979

18,132

of which non-interest-bearing

139,294

144,558

For Loans and receivables (including claims on associated companies), fair value is estimated at the present value of future cash flows discounted by applying market interest rates at the end of the reporting period.

For more information on financial instruments by category/fair value hierarchy level and exposed to credit risk, refer to Note P19 “Financial assets and liabilities by category and level” and section “Credit risk management” in Note P20 “Financial risk management,” respectively. Conventional commercial terms apply for receivables from subsidiaries.

Investments in subsidiaries are specified below, while corresponding information on associated companies and other equity instruments is presented in Notes to consolidated financial statements (Notes C14 and C15).

Subsidiary,

Corp. reg. no., registered office

Participation
(%)

Number of shares

Carrying value (SEK in millions)

Dec 31, 2016

Dec 31, 2015

Swedish companies

       

Skanova AB, 556446-3734, Stockholm

100

21,255,000

25,616

27,819

TeliaSonera Sverige AB, 556430-0142, Stockholm

100

3,000,000

4,376

3,021

Telia Nättjänster Norden AB, 556459-3076, Stockholm

100

68,512

3,146

3,146

TeliaSonera Mobile Networks AB, 556025-7932, Stockholm

100

550,000

1,343

2,698

Cygate AB, 556549-8952, Solna

100

61,000

659

659

Telia Finance AB, 556404-6661, Solna

100

45,000

481

481

Telia Mobile Holding AB, 556855-9040, Stockholm

100

50,000

476

476

Telia Carrier AB, 556583-2226, Stockholm

100

1,000,000

453

453

Zitius Service Delivery AB, 556642-8339, Stockholm

100

2,079,000

353

353

Telia Försäkring AB, 516401-8490, Stockholm

100

2,000,000

200

200

TeliaSonera Sverige Net Fastigheter AB, 556368-4801, Stockholm

100

5,000

169

169

Svenska Stadsnät AB, 556577-9195, Landskrona

100

100,000

70

70

Rätt Internet Kapacitet i Sverige AB, 556669-1704, Umeå

100

8,500

31

31

Telia Asset Finance AB, 556599-4729, Solna

100

1,000

22

22

Quadracom Networks AB, 556606-6055, Gothenburg

100

10,000

9

71

Sergel Kredittjänster AB, 556264-8310, Stockholm

100

5,000

8

8

Svenska Stadsnät Transit AB, 556333-0934, Täby

100

1,000

8

23

TeliaSonera Network Sales AB, 556458-0040, Stockholm

100

10,000

7

7

Svenska Stadsnät Perspektiv AB, 559028-4153, Stockholm

100

500

4

We Care and Repair Nordic AB, 556989-3679, Stockholm

100

500

2

0

Växjö Support Center Försäljnings AB, 556663-4514, Växjö

100

1,000

1

5

Sergel Finans AB, 559067-6416, Stockholm

100

50,000

0

Other operating, dormant and divested companies

   

0

7

Subsidiary,

Corp. reg. no., registered office

Participation
(%)

Number of shares

Carrying value (SEK in millions)

Dec 31, 2016

Dec 31, 2015

Non-Swedish companies

       

TeliaSonera Finland Oyj, 1475607-9, Helsinki

100

1,417,360,515

74,863

74,863

Cygate Oy, 0752421-0, Helsinki

100

1,500,000

246

246

Sergel Oy, 1571416-1, Helsinki

100

267,966,000

149

277

Telia Carrier Finland Oy, 1649304-9, Helsinki

100

100

98

98

Bemecon Solutions Oy, 2442892-5, Esbo

100

10,000

6

Sergel Finans Oy, 2767856-7, Helsinki

100

250

0

Telia Norge AS, 981929055, Oslo

100

30,000

12,786

12,786

Sergel Norge AS, 984272170, Sandefjord

100

227,247

143

143

Telia Carrier Denmark A/S, 24210413, Copenhagen

100

1,000

172

172

TeliaSonera Danmark A/S, 18530740, Copenhagen

100

14,500

19

54

Sergel A/S, 35481036, Copenhagen

100

500,000

1

6

Argon A/S, 36462272, Copenhagen

100

500,000

1

1

TEO LT, AB, 121215434, Vilnius

88.2

513,593,681

4,144

3,310

UAB Sergel, 125026242, Vilnius

100

10,850

7

7

SIA Telia Latvija, 000305757, Riga

100

293,500

29

51

Telia Carrier Latvia SIA, 000325135, Riga

100

208,542

13

13

SIA Sergel, 010318318, Riga

100

3,507

4

4

Latvijas Mobilais Telefons SIA, 000305093, Riga

24.5

200,165

2

2

Telia Eesti AS, 10234957, Tallinn

100

137,954,528

5,686

5,686

Telia Carrier Estonia OÛ, 12606073, Tallin

100

1

11

11

TeliaSonera Kazakhstan Holding B.V., 6547289, Rotterdam

100

10

1,355

Telia Carrier France S.A.S., B421204793, Paris

100

2,700,000

681

681

Telia Carrier UK Ltd, 02796345, London

100

1,010,000

268

268

Telia Carrier Germany GmbH, HRB50081, Frankfurt am Main

100

249

249

AO Telia Carrier Russia, 102780919327, Moscow

100

220,807,825

200

200

Telia Carrier U.S.Inc., 541837195, Herndon VA

100

3,000,100

136

136

Telia Carrier Czech Republic a.s., 26207842, Praque

100

20,000

126

126

Telia Carrier Austria GmbH, FN191783i, Vienna

100

118

118

Telia Carrier Netherlands B.V., 34128048, Amsterdam

100

910

59

59

Telia Carrier Switzerland AG, CHE-105.398.242, Zurich

100

1,000

54

54

Telia Frankfurt Property GmbH, HRB98956, Frankfurt am Main

100

49

49

Telia Carrier Poland Sp.z.o.o., KRS0000018616, Warsaw

100

22,500

37

37

Telia Carrier Hungary Kft, 01-09-688192, Budapest

100

19

19

Telia Carrier Italy S.p.A., 07893960018, Turin

100

530,211

17

17

Telia Carrier Bulgaria EOOD, 175215740, Sofia

100

29,210

14

14

TeliaSonera Telekomünikasyon Hizmetleri A.S., 381395, Istanbul

99.0

79,193

10

10

Telia Carrier Turkey Telekomünikasyon Ltd Sirketi, 609188, Istanbul

99.5

55,919

8

8

Telia Carrier Slovakia s.r.o., 36709913, Bratislava

100

7

7

Telia Carrier Ireland Ltd., 347074, Dublin

100

27

6

6

TOV Telia Carrier Ukraine, 34716440, Kyiv

100

6

6

Telia Carrier Romania S.R.L., 20974985, Bukarest

100

10,001

5

5

Telia Carrier Belgium S.A., 0469422293, Brussels

100

50,620

3

3

Telia Carrier Singapore Pte. Ltd., 200005728N, Singapore

100

1,200,002

1

1

Telia Carrier Canada, Inc., BC0968600, Vancouver, BC

100

100

1

1

TeliaSonera Assignments B.V., 24300363, Rotterdam

100

1,810,719,000

0

2

Telia Carrier Croatia d.o.o., 13282149307, Zagreb

100

1

0

Other operating, dormant and divested companies

   

1

4,702

Total

   

139,239

144,226

In 2016, the carrying value of Skanova AB was written down to reflect the operational performance and capital structure. Xfera Móviles S.A. was divested to Masmovil, a Spanish telecommunications operator. The carrying value in UAB Omnitel has as part of the intragroup share disposal been transferred to TEO LT, AB and the carrying value in TeliaSonera Mobile Networks AB has as part of the intragroup disposal of all assets and liabilities been transferred to TeliaSonera Sverige AB. Telia Danmark is a branch of Telia Nättjänster Norden AB. Telia Company´s stakes in the networksharing operations in Sweden and Denmark are held through TeliaSonera Sverige AB and Telia Mobile Holding AB, respectively. Another 24.5 percent of the shares in Latvijas Mobilais Telefons SIA are owned by a subsidiary. Telia Company has a board majority on Latvijas Mobilais Telefons SIA. Telekomünikasyon Hizmetleri A.S. are owned by TeliaSonera Finland Oyj which also indirectly controls Fintur Holdings B.V. and TeliaSonera UTA Holding B.V. Equity participation corresponds to voting rights participation in all companies. Other operating and dormant companies do not control group assets of significant value. In addition to companies mentioned above, Telia Company AB indirectly controls a number of operating and dormant subsidaries of subsidiaries.