11 FINANCIAL INSTRUMENTS AND FAIR VALUE DISCLOSURES
11.1 CLASSES OF FINANCIAL INSTRUMENTS
| Cash and cash equivalents | Other current financial assets | Trade and other receivables | Non-current financial assets | Total assets | Current financial liabilities | Trade and other | Non-current financial liabilities | Total liabilities 2019 |
CHF 1,000 |
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Financial instruments measured at fair value through P&L (FVTPL) | |||||||||
Currency forwards and options | - | 500 | - | 149 | 649 | (1,274) | - | (8) | (1,282) |
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Financial instruments measured at amortized costs1 |
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Cash and cash equivalents | 266,274 | - | - | - | 266,274 | - | - | - | - |
Time deposits | - | 50,000 | - | - | 50,000 | - | - | - | - |
Receivables | - | - | 121,775 | - | 121,775 | - | - | - | - |
Rent and other deposits | - | - | 656 | 1,024 | 1,680 | - | - | - | - |
Current bank liabilities | - | - | - | - | - | (2,153) | - | - | (2,153) |
Bank loans | - | - | - | - | - | (1,425) | - | (339) | (1,764) |
Payables and accrued expenses | - | - | - | - | - | - | (55,893) | - | (55,893) |
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Other |
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Lease liabilities | - | - | - | - | - | (9,830) | - | (34,137) | (43,967) |
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Total financial instruments | 266,274 | 50,500 | 122,431 | 1,173 | 440,378 | (14,682) | (55,893) | (34,484) | (105,059) |
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Reconciling items2 | - | - | 11,245 | - | 11,245 | - | (16,380) | - | (16,380) |
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Balance at December 31, 2019 | 266,274 | 50,500 | 133,676 | 1,173 | 451,623 | (14,682) | (72,273) | (34,484) | (121,439) |
- The carrying amount of financial instruments measured at amortized costs is a reasonable approximation of their fair value due to their short-term nature. Bank loans are the only exception due to their long-term nature (fair value of TCHF 1'757).
- Receivables/payables arising from VAT/other non-income taxes and social security.
| Cash and cash equivalents | Other current financial assets | Trade and other receivables | Non-current financial assets | Total assets 2020 | Current financial liabilities | Trade and other payables/accrued expenses | Non-current financial liabilities | Total liabilities 2020 |
CHF 1,000 |
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Financial instruments measured at fair value through P&L (FVTPL) |
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Currency forwards and options | - | 906 | - | 13 | 919 | (175) | - | (16) | (191) |
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Financial instruments measured at amortized costs1 |
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Cash and cash equivalents | 189,677 | - | - | - | 189,677 | - | - | - | - |
Time deposits | - | 170,000 | - | - | 170,000 | - | - | - | - |
Receivables | - | - | 96,524 | - | 96,524 | - | - | - | - |
Rent and other deposits | - | - | 616 | 1 005 | 1,621 | - | - | - | - |
Current bank liabilities | - | - | - | - | - | (5,154) | - | - | (5,154) |
Bank loans | - | - | - | - | - | - | - | (571) | (571) |
Payables and accrued expenses | - | - | - | - | - | - | (60,930) | - | (60,930) |
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Other |
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Lease liabilities | - | - | - | - | - | (10,255) | - | (31,217) | (41,472) |
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Total financial instruments | 189,677 | 170,906 | 97,140 | 1,018 | 458,741 | (15,584) | (60,930) | (31,804) | (108,318) |
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Reconciling items2 | - | - | 14,252 | - | 14,252 | - | (19,879) | - | (19,879) |
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Balance at June 30, 2020 | 189,677 | 170,906 | 111,392 | 1,018 | 472,993 | (15,584) | (80,809) | (31,804) | (128,197) |
- The carrying amount of financial instruments measured at amortized costs is a reasonable approximation of their fair value due to their short-term nature. Bank loans are the only exception due to their long-term nature (fair value of TCHF 576).
- Receivables/payables arising from VAT/other non-income taxes and social security
11.2 FAIR VALUE HIERARCHY (LEVEL) AND VALUATION TECHNIQUES USED
Position | Level | Data source | Model |
Currency forwards | Level 2 | Bloomberg | (Forward rate - [spot rate +/- forward points]) * amount in foreign currency |
Currency options | Level 2 | Bloomberg | Black-Scholes model |
Bank loans | Level 2 | Bloomberg | The fair value is estimated by discounting the future contractual cash flows at the current market interest rate that is available to the Group for similar financial instruments. |
There have been no transfers between the levels in 2019 and 2020.
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