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Fair values
 6 Months Ended
Jun. 30, 2022
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 2.27 of the 2021 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 and trade payables.

 

 Fair values measurement

    Carrying amount  Fair value
June 30, 2022      Level 1  Level 2  Level 3  Total
    Financial assets            
Financial assets measured at fair value                
Derivative financial instruments   1,113  —  1,113  —  1,113
Current portion of fair value of derivative financial instruments   513  —  513  —  513
    1,626            
                 
    Financial liabilities            
Financial liabilities not measured at fair value                
Long-term borrowings   29,250  —   29,747  —   29,747
    29,250            

 

 

    Carrying amount  Fair value
December 31, 2021      Level 1  Level 2  Level 3  Total
    Financial assets            
Financial assets measured at fair value                
Derivative financial instruments   417  —   417  —   417
    417            
                 
    Financial liabilities            
Financial liabilities measured at fair value                
Derivative financial instruments   92  —   92  —   92
    92            
Financial liabilities not measured at fair value                
Long-term borrowings   31,750  —   32,155  —   32,155
    31,750            

 

  

 

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.