|June 30, 2013|
|SEK M||Carrying value||Fair value|
|Financial assets at fair value through profit and loss 1)|
|The Volvo Group's outstanding interest and currency risk derivatives (A)||2,302||2,302|
|The Volvo Group's outstanding raw materials derivatives||4||4|
|Loans receivable and other receivables|
|Customer financing receivables 2)||82,589||–|
|Other interest-bearing receivables||1,004||–|
|Financial assets available for sale|
|Holding of shares in listed companies||1,211||1,211|
|Holding of shares in non-listed companies||512||–|
|Cash and cash equivalents||22,737||22,737|
|Financial liabilities at fair value through profit and loss 1)|
|The Volvo Group's outstanding interest and currency risk derivatives 3)||2,853||2,853|
|The Volvo Group's outstanding raw materials derivatives||60||60|
|Financial liabilities valued at amortized cost 4)|
|Long term bond loans and other loans||82,938||86,991|
|Short term bank loans and other loans||54,897||54,058|
1) IFRS 7 classifies financial instruments based on the degree that market values have been utilized when measuring fair value. All financial instruments measured at fair value held by Volvo are classified as level 2 with the exception of shares and participations, which are classified as level 1 for listed instruments and level 3 for unlisted instruments. Refer to Note 5 in the Volvo Group Annual Report 2012 for more information regarding valuation principles. None of these individual shareholdings is of significant value for Volvo. The valuation of level 2 instruments is based on market conditions using quoted market data existing at each balance sheet date. The basis for the interest is the zero-coupon-curve in each currency which calculates the present value of all the estimated future cash-flows. The fair value of forward exchange contracts is discounted to balance sheet date based on the forward rates for each currency as per balance sheet date.
2) Volvo does not estimate the risk premium for the customer financing receivables and chooses therefore not to disclose fair value for this category.
3) Includes a fair value of a loan related to hedge accounting negative SEK 1,211 M, netted against the derivative used to hedge the risk, positive SEK 1,227 M (B).
4) In the Volvo Group consolidated financial position, financial liabilities include loan-related derivatives amounting to negative SEK 2,011 M. These derivatives are presented as financial liabilities at fair value through profit and loss in the table above.