English - DFDS

92 NOTEs
DFDS annual report 2009
>>> Note 27 continued
Fair value hierarchy of financial instruments
The table below analyses financial instruments carried at fair value, by valuation method. The different levels have been defined as follows:
Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities
Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices)
Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs)
The Group
DKK ‘000 Level 1 Level 2 Level 3 TOTAL
2007
Financial assets used for hedge 24,445 24,445
Financial assets available for sale 14,266 11,542 25,808
Financial liabilities used for hedge -49,374 -49,374
Total 14,266 -24,929 11,542 879
2008
Financial assets used for hedge 28,259 28,259
Financial assets available for sale 5,810 11,643 17,453
Financial liabilities used for hedge -148,989 -148,989
Total 5,810 -120,730 11,643 -103,277
2009
Financial assets used for hedge 10,892 10,892
Financial assets available for sale 10,375 19,719 30,094
Financial liabilities used for hedge -80,148 -80,148
Total 10,375 -69,256 19,719 -39,162
Parent Company
DKK ‘000 Level 1 Level 2 Level 3 TOTAL
2007
Financial assets used for hedge 19,499 19,499
Financial assets available for sale 14,266 10,222 24,488
Financial liabilities used for hedge -47,836 -47,836
Total 14,266 -28,337 10,222 -3,849
2008
Financial assets used for hedge 28,259 28,259
Financial assets available for sale 5,810 10,347 16,157
Financial liabilities used for hedge -119,382 -119,382
Total 5,810 -91,123 10,347 -74,966
2009
Financial assets used for hedge 10,892 10,892
Financial assets available for sale 10,375 18,460 28,835
Financial liabilities used for hedge -76,492 -76,492
Total 10,375 -65,600 18,460 -36,765
Financial assets and liabilities used for hedge are all measured at level 2. See note 28 for description of the valuation method.
Financial assets available for sale measured at level 1 are listed shares and is measured at the quoted prices. Financial assets available for sale measured at level 3 consist of
other shares and equity investments as well as other investments (some minor unlisted enterprises and holdings). They are measured at cost reduced by write-downs, if any.