P19. Financial assets and liabilities by category and level

Categories

Carrying values of classes of financial assets and liabilities were distributed by category as follows. Financial assets and liabilities relating to subsidiaries are not included. Excluded are also investments in associated companies and joint ventures as discussed in Note P10 “Other financial assets” and pension obligations as discussed in Note P14 “Provisions for pensions and employment contracts.”

SEK in millions

Note

Dec 31, 2016

Dec 31, 2015

Financial assets

     

Derivatives designated as hedging instruments

P10, P11

2,637

2,824

Financial assets at fair value through profit and loss

 

3,084

3,162

Derivatives not designated as hedging instruments

P10P11

3,058

3,137

Held-for-trading investments

P10

26

25

Long- and short-term bonds available-for-sale

P10, P12

18,560

15,291

Loans and receivables

P10, P11P12

40,933

44,033

Available-for-sale financial assets

P10P12

1,160

1,052

Total financial assets by category

 

66,374

66,362

Financial liabilities

     

Derivatives designated as hedging instruments

P16

2,346

2,139

Derivatives not designated as hedging instruments

P16, P18

1,226

329

Financial liabilities measured at amortized cost

P16P18

108,562

124,015

Total financial liabilities by category

 

112,133

126,483

Fair value hierarchy levels

The carrying values of classes of financial assets and liabilities were distributed by fair value hierarchy level as follows.

SEK in millions

Note

December 31, 2016

December 31, 2015

Fair

value

of which

Fair

value

of which

Level 1

Level 2

Level 3

Level 1

Level 2

Level 3

Financial assets at fair value

                 

Equity instruments available-for-sale

P10

1,160

1,160

1,052

1,052

Investments in other equity instruments
held-for-trading

P10

26

26

25

25

Long and short term bonds available-for-sale

P10P12

18,560

18,560

15,291

15,291

Derivatives designated as hedging instruments

P10P11

2,637

2,637

2,824

2,824

Derivatives held-for-trading

P10P11

3,058

3,058

3,137

3,072

65

Total financial assets at fair value by level

 

25,442

18,560

5,695

1,186

22,329

15,291

5,896

1,142

Financial liabilities at fair value

                 

Derivatives designated as hedging instruments

P16

2,346

2,346

2,139

2,139

Derivatives held-for-trading

P16P18

1,226

1,226

329

329

Total financial liabilities at fair value by level

 

3,572

3,572

2,468

2,486

There were no transfers between Level 1 and 2 in 2016 and 2015.

Level 3 financial assets changed as follows.

SEK in millions

 

December 31, 2016

 

December 31, 2015

Equity instruments available-for-sale

Investments in other equity instruments
held-for-trading

Derivatives held-for-trading

Total

Equity instruments available-for-sale

Investments in other equity instruments
held-for-trading

Derivatives held-for-trading

Total

Level 3, opening balance

1,052

25

65

1,142

46

21

55

122

Changes in fair value

-4

-4

12

0

10

22

of which recognized in net income

-4

-4

-13

0

10

-3

of which recognized in other comprehensive income

25

25

Purchases/capital contributions

48

1

49

994

4

998

Exercise of warrants

65

-65

0

Level 3, closing balance

1,162

26

0

1,186

1,052

25

65

1,142

Changes in fair value recognized in net income are included in line item Financial income and expenses, see specification in Note P5 “Financial income and expenses.” For more information see Note C25.