Information regarding the fair value of financial instruments
The carrying amounts of the cash and cash equivalents (as of June 30, 2024: € 4,573 million; as of December 31, 2023: € 2,631 million; as of June 30, 2023: € 4,651 million), trade receivables and other financial assets (as of June 30, 2024: € 9,545 million; as of December 31, 2023: € 8,658 million; as of June 30, 2023: € 9,527 million) approximate the fair values as of the balance sheet date.
The carrying amounts of the trade liabilities, the other and the miscellaneous financial liabilities (as of June 30, 2024: € 9,159 million; as of December 31, 2023: € 8,910 million; as of June 30, 2023: € 9,956 million), as well as of the current financial debt, approximate the fair values as of the closing date.
As of June 30, 2024, € 1,455 million (as of December 31, 2023: € 1,430 million; as of June 30, 2023: € 2,039 million) of the overall receivables and other assets related to non-financial assets. As of June 30, 2024, € 2,218 million (as of December 31, 2023: € 2,298 million; as of June 30, 2023: € 2,619 million) of the overall other liabilities related to non-financial liabilities.
The fair value of non-current financial debt with a carrying amount of € 34,784 million as of June 30, 2024, was € 31,136 million (as of December 31, 2023: carrying amount € 33,971 million, fair value € 30,770 million; as of June 30, 2023: carrying amount € 31,006 million, fair value € 26,568 million).
The derivative financial instruments recognized at fair value are classified under valuation level 2 and to a lesser extent under valuation level 1. In addition, money market funds recognized at fair value in the amount of € 505 million (as of December 31, 2023: € 519 million; as of June 30, 2023: € 509 million) were classified under valuation level 1 and receivables qualifying for sale in the amount of € 576 million (as of December 31, 2023: € 439 million; as of June 30, 2023: € 548 million) and other investments were classified under valuation level 3. Changes in assets classified under valuation level 3 were mainly attributable to the addition of receivables qualifying for sale. There were no significant valuation effects for these assets.
There were no reclassifications between the valuation levels in the first half of 2024.