F urther information re gar din g carr yin g and fair v alues is pro vided in the t able Financial ins truments b y cate g or y carr yin g and fair v alues in note 6 as w ell as in the defnitions of the cate g ories belo w Financial assets or fnancial liabilities at fair v alue throug h proft or loss Financial assets at fair v alue throug h proft or loss ha v e t w o subcate g ories fnancial assets held for tr adin g and those designated at fair v alue throug h proft or loss at inception A fnancial asset is classifed in this cate g or y if acquired principally for the purpose of sellin g in the short term or if so designated b y mana g ement F air v alue deriv ativ e assets are also cate g o riz ed as held for tr adin g unless the y qualif y for hed g e accountin g Assets in this cate g or y are classifed as current assets if the y are either held for tr adin g or are e xpected to be realiz ed within 12 months of the balance sheet date f inancial liabilities at fair v alue are tr adin g securities with ne gativ e fair v alue normally deriv ativ e liabilities unless the y qualif y for hed g e accountin g Loans and receiv ables Loans and receiv ables are nonderiv ativ e fnancial assets with fx ed or determinable pa yments that are not quoted in an activ e mark et The y arise when the Group pro vides mone y g oods or ser vices directly to a debtor with no intention of tr adin g the receiv able The y are included in current assets e x cept for loans and receiv ables with maturities later than 12 months after the balance sheet date Heldtomaturit y in v es tments Heldtomaturit y in v es tments are nonderiv ativ e fnancial assets with fx ed or determinable pa yments and fx ed maturities that the Group s mana g e ment has the positiv e intention and abilit y to hold to maturit y A v ailablefor sale fnancial assets A v ailablefor sale fnancial assets are nonderiv ativ es that are either desig nated in this cate g or y or not classifed in an y of the other cate g ories The y are included in noncurrent assets unless mana g ement intends to dispose of the in v es tment within 12 months of the balance sheet date Financial liabilities designated as hed g ed item in a fair v alue hed g e This cate g or y includes fnancial liabilities designated as hed g ed item in a fair v alue hed g e The hed g in g ins truments are included in the cate g or y deriv a tiv es designated for hed g in g f inancial liabilities designated as hed g ed item in a fair v alue hed g e are included in noncurrent liabilities e x cept for liabili ties with maturities later than 12 months from the balance sheet date Other fnancial liabilities Other fnancial liabilities are an y fnancial liabilities that are not included in either of the cate g ories fnancial liabilities designated as hed g ed item in a fair v alue hed g e or fnancial liabilities at fair v alue throug h proft or loss The y are included in current liabilities e x cept for liabilities with maturities later than 12 months from the balance sheet date Deriv ativ es designated for hed g in g The Group normally only enter s into deriv ativ e contr acts when the y either qualif y for hed g e accountin g or when there is a natur al ofset in the account in g This cate g or y includes the fr s t t ype of deriv ativ es Deriv ativ es where the hed g ed item or the item for which a natur al ofset in the accountin g is soug ht has a maturit y within 12 months after the balance sheet date are either included in current assets on the line other interes t bearin g current assets or in current liabilities on the line other short term loan liabilities Deriv ativ es where the hed g ed item or the item for which a natur al ofset in the accountin g is soug ht has a maturit y later than 12 months after the balance sheet date are either included in noncurrent assets on the line other interes t bearin g fnancial noncurrent assets or in lon g term liabilities on the line other lon g term loan liabilities R ecognition and subsequent measurement P urchases and sales of fnancial ins truments are recogniz ed on the tr ade date the date on which the Group commits to purchase or sell the ins trument Financial assets and liabilities are initially recogniz ed at fair v alue plus tr ansaction cos ts for all fnancial assets or fnancial liabilities not carried at fair v alue throug h proft or loss Financial assets or liabilities at fair v alue throug h proft or loss are recogniz ed at fair v alue An y tr ansaction cos ts are char g ed to the s t atement of income Financial assets are derecogniz ed when the rig hts to receiv e cash fo ws from the ins truments ha v e e xpired or ha v e been tr ansferred and the Group has tr ansferred subs t antially all risks and rew ar ds of o wner ship Financial liabilities are remo v ed when the obligation is dischar g ed cancelled or has e xpired Financial assets or fnancial liabilities at fair v alue throug h proft or loss and a v ailablefor sale fnancial assets are subsequently carried at fair v alue Loans and receiv ables and heldtomaturit y in v es tments are carried at amortiz ed cos t usin g the efectiv e interes t method R ealiz ed and unrealiz ed gains and losses arisin g from chan g es in the fair v alue of the fnancial assets or liabilities at fair v alue throug h proft or loss cate g or y are included in fnan cial income or fnancial e xpenses in the s t atement of income in the period in which the y arise Financial liabilities with the e x ception of fnancial liabilities at fair v alue throug h proft or loss and fnancial liabilities designated for hed g in g are subsequently carried at amortiz ed cos t f inancial liabilities designated as the hed g ed item in a fair v alue hed g e are carried at amortiz ed cos t but are adjus ted for chan g es in the fair v alue due to the hed g ed risk Chan g es in the fair v alue are included in fnancial income or fnancial e xpenses in the s t atement of income in the period in which the y arise The correspondin g gain or loss from remeasurin g the hed g in g ins trument at fair v alue is also included in fnancial income or fnancial e xpenses in the s t atement of income in the same period as that in which the gain or loss on the hed g ed item arises Cash fo w hed g in g ins truments are carried at fair v alue in the balance sheet and the gains or losses from remeasurin g the hed g in g ins truments at fair v alue are recogniz ed in the hed g in g reser v e in other comprehensiv e income with a re v er sal from the hed g in g reser v e to the s t atement of income in the period of which the cash fo w of the hed g ed item impacts the s t ate ment of income Ex chan g e r ate gains and losses on deriv ativ es that are part of a net in v es tment hed g e relationship are recogniz ed in other comprehen siv e income An y inefectiv eness is recogniz ed in the s t atement of income Actual cash fo ws accruals that arise from interes t r ate deriv ativ e contr acts are recogniz ed as interes t income and or interes t e xpense in the period to which the y relate Chan g es in fair v alue after accruals for both the hed g ed item and the hed g in g ins trument deriv ativ e are recogniz ed sepa r ately as re v aluation of fnancial ins truments The line re v aluation of fnancial ins truments is included within fnancial income and or fnancial e xpense The fair v alues of quoted fnancial ins truments are based on current bid prices If the mark et for a fnancial ins trument is not activ e and for unlis ted securities the Group es t ablishes fair v alue b y usin g v aluation techniques These include the use of recent arm s len g th tr ansactions reference to other ins truments that are subs t antially the same discounted cash fo w analysis and option pricin g models refned to refect the issuer s specifc circum s t ances Impairment of fnancial assets The Group assesses at each balance sheet date whether there is objectiv e e vidence that a fnancial asset or a group of fnancial assets is impaired 80 Annual R eport Notes and comments to the consolidated fnancial s t atements Securit as Annual R eport 2012