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Derivatives | 12 Months Ended
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Dec. 31, 2025
Derivatives Instruments [Abstract] |
Derivatives | Derivatives The Group enters into derivative financial instruments to manage its interest rate and foreign exchange risk. Derivative instruments are initially and subsequently measured at fair value with changes to fair value recognized immediately within funding costs in the consolidated statements of profit or loss. When the fair value of derivative instruments is positive, they are carried as assets and carried as liabilities when their fair value is negative. As of December 31, 2025 and 2024, Klarna had entered into derivatives with the gross nominal amount of $8.3 billion and $7.4 billion, respectively. The Group’s derivatives are composed of:
December 31, 2025 |  |  |  |  |  |
|  | Fair value |  | Nominal amount
Derivatives designated in a hedged relationship |  | Positive |  | Negative |
Interest rate swaps ........................................................................................... |  | $2 |  | $(1) |  | $2,883
Total ..................................................................................................................... |  | $2 |  | $(1) |  | $2,883
|  | Fair value |  | Nominal amount
Derivatives not designated in a hedged relationship |  | Positive |  | Negative |
Currency forwards ............................................................................................ |  | $20 |  | $(12) |  | $5,413
Total ..................................................................................................................... |  | $20 |  | $(12) |  | $5,413
December 31, 2024 |  |  |  |  |  |
|  | Fair value |  | Nominal amount
Derivatives designated in a hedged relationship |  | Positive |  | Negative |
Interest rate swaps ........................................................................................... |  | $4 |  | $(1) |  | $3,805
Total ..................................................................................................................... |  | $4 |  | $(1) |  | $3,805
|  | Fair value |  | Nominal amount
Derivatives not designated in a hedged relationship |  | Positive |  | Negative |
Currency forwards ............................................................................................ |  | $6 |  | $(60) |  | $3,588
Total ..................................................................................................................... |  | $6 |  | $(60) |  | $3,588
Foreign exchange derivatives Foreign exchange derivatives are not designated in a hedge accounting relationship and had contractual maturities within six months of December 31, 2025 and four months of December 31, 2024, respectively. Derivatives designated in a hedge relationship Fair value hedges The Group holds short- and medium-term consumer deposits which are subject to changes in fair value due to fluctuations in the underlying interest rate benchmark, which is typically the most significant component of the overall fair value change. The Group uses interest rate swaps as the hedging instrument to reduce the impact of fair value changes in the consumer deposits (hedged item) due to changes in the underlying interest rate benchmark. For hedges of interest rate risk, ineffectiveness can arise due to mismatches of critical terms and/or the use of different curves to discount the hedged item and instrument, as in, for example, a mismatch between the reset frequency of the swap and the benchmark frequency.
December 31, 2025 |  |  |  |  |  |  |  |  |  |
|  |  |  | Carrying amount |  | Change in fair value used to calculate hedge ineffectiveness |  | Ineffectiveness recognized in funding costs
Fair value hedges: Hedging instrument and ineffectiveness |  | Nominal amount |  | Positive |  | Negative |  |
Interest rate risk ......................... |  | $2,883 |  | $2 |  | $(1) |  | $(3) |  | $—
Total .............................................. |  | $2,883 |  | $2 |  | $(1) |  | $(3) |  | $—
December 31, 2024 |  |  |  |  |  |  |  |  |  |
|  |  |  | Carrying amount |  | Change in fair value used to calculate hedge ineffectiveness |  | Ineffectiveness recognized in funding costs
Fair value hedges: Hedging instrument and ineffectiveness |  | Nominal amount |  | Positive |  | Negative |  |
Interest rate risk ......................... |  | $3,805 |  | $4 |  | $(1) |  | $(5) |  | $—
Total .............................................. |  | $3,805 |  | $4 |  | $(1) |  | $(5) |  | $—
|  | December 31, 2025 |  | December 31, 2024
Fair value hedges: Designated hedged item |  |  |  |
Consumer deposits ..................................................................................................................... |  | $2,883 |  | $3,805
Of which: the accumulated amount of fair value adjustment .......................................... |  | $(1) |  | $6
| Maturity 2025 |  | Maturity 2024
| Within 3 months |  | > 3 months and < 12 months |  | > 12 months |  | Within 3 months |  | > 3 months and < 12 months |  | > 12 months
Fair value hedges: Maturity of the nominal amount of the hedge instrument |  |  |  |  |  |  |  |  |  |  |
Interest rate risk .............................................. | $898 |  | $1,557 |  | $428 |  | $833 |  | $2,000 |  | $972
Average fixed interest rate ........................... | 2.2% |  | 1.9% |  | 1.9% |  | 3.5% |  | 2.8% |  | 2.2%

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- Definition The disclosure of derivative financial instruments. [Refer: Derivatives [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Note Expiry date 2027-01-01 -Name IAS -Number 1 -IssueDate 2025-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2025-en-b&anchor=para_10_e&doctype=Standard -URIDate 2025-03-27 + Details
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- Definition Derivatives Instruments [Abstract] + References No definition available. + Details
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