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Fair values
 6 Months Ended
Jun. 30, 2021
Disclosure of fair value measurement of assets [abstract]  
Fair values

12.       Fair values

 

Carrying amounts and fair values

 

The following table shows the carrying amounts and fair values of assets and liabilities measured at fair value, including their levels in the fair value hierarchy (as defined in note 2.28 of the 2020 Annual Report). It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value, such as cash and cash equivalents, restricted cash, trade receivables, trade payables and claims receivables.

 

Fair value
June 30, 2021   Carrying amount   Level 1   Level 2   Level 3   Total
    Other financial assets                
Financial assets measured at fair value                    
Derivative financial instruments   111   —   111   —   111
    111                
                     
  Other financial liabilities                 
Financial liabilities measured at fair value                    
Derivative financial instruments   176    —   176    —   176 
    176                
Financial liabilities not measured at fair value                    
Long-term borrowings   34,250   —   34,430   —   34,430
    34,250                

  

    Fair value
December 31, 2020   Carrying amount   Level 1   Level 2   Level 3   Total
    Other financial liabilities                
Financial liabilities not measured at fair value                    
Long-term borrowings   37,000   —   37,961   —   37,961
    37,000                

 

12.          Fair values (continued)

  

Measurement of fair values

 

Valuation techniques and significant unobservable inputs

The following tables show the valuation techniques used in measuring Level 1, Level 2 and Level 3 fair values, as well as the significant unobservable inputs used.

 

 

 

Financial instruments measured at fair value              
Type   Valuation Techniques   Significant unobservable inputs
               
         
Derivative financial instruments:        
Interest Rate Swap   Discounted cash flow     Discount rate
               

 

Financial instruments not measured at fair value

              
               
Asset and liabilities not measured at fair value              
               
Type   Valuation Techniques   Significant unobservable inputs
               
Long-term borrowings   Discounted cash flow   Discount rate

  

 

Transfers between Level 1, 2 and 3

 

There have been no transfers between Level 1, Level 2 and Level 3 during the period.