The table below presents fair values as compared to carrying amounts:
| 31.12.2014 | 31.12.2013 | |||
|---|---|---|---|---|
| Carrying amount | Fair value | Carrying amount | Fair value | |
|
Non-current financial assets available for sale (shares in unrelated parties) |
47 479 | 47 479 | 61 761 | 61 761 |
| Non-current financial assets measured at fair value through profit or loss |
99 | 99 | 1 860 | 1 860 |
| Current financial assets held to maturity | 189 789 | 189 789 | 45 | 45 |
| Current financial assets measured at fair value through profit or loss |
392 251 | 392 251 | 296 339 | 296 339 |
| Trade and other receivables | 1 587 161 | 1) | 1 282 352 | 1) |
| Cash and cash equivalents | 687 316 | 687 316 | 1 573 195 | 1 573 195 |
| Loans, borrowings and debt securities | 2 218 523 | 2 218 523 | 842 557 | 842 557 |
| Finance lease liabilities | 2 566 | 2 566 | 4 724 | 4 724 |
| Trade liabilities | 890 960 | 1) | 1 033 604 | 1) |
| Non-current financial liabilities measured at fair value through profit or loss |
917 | 917 | 364 | 364 |
1) The carrying amounts of trade and other receivables, trade and other liabilities approximates their fair values.
Financial assets available for sale include shares in unrelated parties for which the ratio of interest in equity is lower than 20%. The fair value of not listed assets is estimated using a discounted cash flows method. The fair value of listed assets is determined using quotations from the active market.
Current financial assets measured at fair value through profit or loss include an investment portfolio managed by a company specialized in professional fund management (note 23). The fair value of the investment portfolio is estimated based on market quotations.
Current financial assets held to maturity include bank deposits with the original maturity from 3 months to 1 year.
The table below presents the analysis of financial instruments measured at fair value and classified into the following three levels:
- Level 1 – fair value based on stock exchange prices (unadjusted) offered for identical assets or liabilities in active markets,
- Level 2 – fair value determined based on market observations instead of market quotations (e.g. direct or indirect reference to similar instruments traded in the market),
- Level 3 – fair value determined using various valuation methods, but not based on any observable market information.
| 31.12.2014 | ||||
|---|---|---|---|---|
| Level 1 | Level 2 | Level 3 | Total | |
| Financial assets measured at fair value through profit or loss | ||||
| Forward contracts | - | 449 | - | 449 |
| Non-derivative financial assets held for trading | 391 901 | - | - | 391 901 |
| Financial assets available for sale | ||||
| Listed equity instruments | 46 954 | - | - | 46 954 |
| Not listed equity instruments | - | - | 525 | 525 |
| Securities secured on assets | - | - | - | - |
| Total | 438 855 | 449 | 525 | 439 829 |
| Financial liabilities measured at fair value through profit or loss | ||||
| Forward contracts | -917 | -917 | ||
| Total | - | -917 | - | -917 |
| 31.12.2013 | ||||
|---|---|---|---|---|
| Level 1 | Level 2 | Level 3 | Total | |
| Financial assets measured at fair value through profit or loss | ||||
| Non-derivative financial assets held for trading | 298 199 | - | - | 298 199 |
| Financial assets available for sale | ||||
| Listed equity instruments | 61 236 | - | - | 61 236 |
| Not listed equity instruments | - | - | 525 | 525 |
| Total | 359 435 | - | 525 | 359 960 |
| Financial liabilities measured at fair value through profit or loss | ||||
| Forward contracts | - | -364 | - | -364 |
| Total | - | -364 | - | -364 |