FINANCIAL STATEMENTS - KPN

In addition, KPN’s Treasury department provides cash management and funding services to the Group companies and business operations.
This note presents information about the Group’s exposure to each of the above-mentioned risks, the Group’s objectives, policies and processes
for measuring and managing risk. Further quantitative disclosures are included throughout these Consolidated Financial Statements.
The table below summarizes the Group’s financial assets and liabilities:
December 31, 2012 December 31, 2011
Amounts in millions of EUR Carrying amount Fair value Carrying amount Fair value
Financial assets
Fair value through profit and loss:
Derivatives – non-current [26] 233 233 169 169
Derivatives – current [26] – – 3 3
Loans and receivables:
Non-current receivables from financial leases [13] 2 2 3 3
Loans to associates and joint ventures [12] 227 227 127 127
Trade receivable [15] 1,045 1,045 1,022 1,022
Other receivables [15] 157 157 51 51
Cash and cash equivalents [17] 1,286 1,286 990 990
Subtotal 2,950 2,950 2,365 2,365
Available for sale financial assets [16] 35 35 48 48
Total 2,985 2,985 2,413 2,413
Financial liabilities
Fair value through profit and loss:
Derivatives – non-current [26] 458 458 229 229
Derivatives – current [26] 16 16 – –
Subtotal 474 474 229 229
Financial liabilities measured at
amortized costs:
Borrowings [21] 13,896 14,773 13,099 13,966
Trade payables [25] 1,402 1,402 1,423 1,423
Other payables and accrued expenses and
interest [25] 1,571 1,571 1,486 1,486
Subtotal 16,869 17,746 16,008 16,875
Total 17,343 18,220 16,237 17,104
[..] Bracketed numbers refer to the related notes.
The following table presents the Group’s financial assets and liabilities that are measured at fair value at December 31, 2012.
Total
Amounts in million of EUR
Level 1 Level 2 Level 3 Balance
Assets
Financial assets at fair value through profit
and loss:
Derivatives (cross currency interest rate swap) – 42 – 42
Derivatives (interest rate swap) – 186 – 186
Other derivatives – – 5 5
Available-for-sale financial assets:
Listed securities 9 – – 9
Unlisted securities – – 26 26
Total assets 9 228 31 268
Liabilities
Financial liabilities at fair value through profit
and loss:
Derivatives (cross currency interest rate swap) – 166 – 166
Derivatives (interest rate swap) – 30 – 30
Other derivatives [12] – – 278 278
Total liabilities – 196 278 474
[..] Bracketed numbers refer to the related notes.
KPN | Annual Report 2012 135