Note 12 - Financial instruments
The following table shows the allocation of financial instruments based on the following categories in accordance with IFRS 7: Financial assets at fair value through the income statement, investment held to maturity, loan trade receivables, and available-for-sale financial assets.
| Financial assets, Group | |||||||
| Financial assets valued at fair valued via the income statement |
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| SEK million, 31 Dec. 2011 | Holdings for trading |
Classified on the initial reporting date | Investments held to maturity | Loan and trade receivables | Financial assets available for sale | Total fair value | |
| Index-linked treasury bonds | — | 1,685 | — | — | — | 1,685 | |
| Investments in zero-coupon bonds and commercial papers | — | — | 1,145 | — | — | 1,145 | |
| Currency futures | 1 | — | — | — | — | 1 | |
| Accounts receivable and other receivables | — | — | — | 537 | — | 537 | |
| Set-off, National Debt Office | — | — | — | 1,200 | — | 1,200 | |
| Cash and cash equivalents | — | — | — | 2,264 | — | 2,264 | |
| Total | 6,832 | ||||||
| Financial assets valued at fair valued via the income statement | |||||||
| SEK million, 31 Dec. 2010 | Holdings for trading | Classified on the initial reporting date | Investments held to maturity | Loan and trade receivables | Financial assets available for sale | Total fair value | |
| Index-linked treasury bonds | — | 1,525 | — | — | — | 1,525 | |
| Investments in zero-coupon bonds and commercial papers | — | — | 654 | — | — | 654 | |
| Currency futures | — | — | — | — | — | — | |
| Accounts receivable and other receivables | — | — | — | 495 | — | 495 | |
| Set-off, National Debt Office | — | — | — | 1,200 | — | 1,200 | |
| Cash and cash equivalents | — | — | — | 2,273 | — | 2,273 | |
| Total | 6,146 | ||||||
| Financial liabilities, Group | |||||
| Financial assets valued at fair valued via the income statement |
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| SEK million, 31 Dec. 2011 | Holdings for trading |
Classified on the initial reporting date | Other financial liabilities | Total fair value | |
| Accounts payable and other liabilities | — | — | 625 | 625 | |
| Unpaid winnings, Triss Månadsklöver | — | 1,572 | — | 1,572 | |
| Other current and non-current, non-interest bearing liabilities | — | — | 903 | 903 | |
| Total | 3,100 | ||||
| Financial assets valued at fair valued via the income statement |
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| SEK million, 31 Dec. 2010 | Holdings for trading |
Classified on the initial reporting date | Other financial liabilities | Total fair value | |
| Accounts payable and other liabilities | — | — | 568 | 568 | |
| Unpaid winnings, Triss Månadsklöver | — | 1,437 | — | 1,437 | |
| Other current and non-current, non-interest bearing liabilities | — | — | 714 | 714 | |
| Total | 2,719 | ||||
| For financial investments in the categories investments held to maturity, loan receivables and accounts receivable, as well as financial assets available for sale, the fair value is deemed to match the carrying value. | |||||
Financial instruments recognised at fair value
Svenska Spel measures its real interest-rate bonds and currency futures at fair value in profit or loss. Under IFRS 7, real interest-rate bonds are classified in the value hierarchy 1 since they are measured at market prices, and currency futures are classified in the value hierarchy 2 since they are measured at observable market data.
| Assets, SEK million | Level 1 | Level 2 | Level 3 | Total |
| Real interest-rate bonds | 1,684 | — | — | 1,684 |
| Currency futures | — | 1 | — | 1 |
| Cash and cash equivalents | 2,264 | — | — | 2,264 |
| Assets, SEK million | Level 1 | Level 2 | Level 3 | Total |
| Unpaid winnings Triss Månadsklöver | — | 1,572 | — | 1,572 |
Security holdings, Triss Månadsklöver
Total security holdings concerning Triss Månadsklöver amounted to SEK 1,684,000 (1,546,000), of which SEK 1,493,000 (1,525,000) comprises the non-current portion and SEK 191 million (21) the current portion. Acquisitions
and sales, as well as net realised and unrealised value changes for Triss Månadsklöver amounted to a loss of SEK 15 million (gain: 6) and the value change of the asset was SEK 138 million (62).
| Interest risk Instruments (measurement principle) |
Nominal value | Maturity date | Coupon rate, % |
| Real interest-rate bonds | |||
| Swedish Government’s real interest-rate bonds | |||
| 1572 | 39 | 2012-03-21 | 6.00 |
| 3106 | 133 | 2012-04-01 | 1.00 |
| 3001 | 78 | 2014-04-01 | 0.00 |
| 3105 | 241 | 2015-12-01 | 3.50 |
| 3107 | 286 | 2017-06-01 | 0.50 |
| 3102 | 151 | 2020-12-01 | 4.00 |
| 3108 | 248 | 2022-06-01 | 0.25 |
| 3104 | 128 | 2028-12-01 | 3.50 |
| Interest risk Instruments (measurement principle) |
Nominal value | Maturity date | Coupon rate, % |
| Investments in zero-coupon bonds, commercial papers and deposits | |||
| Within 180 interest days | 447 | 2012-01-11 | 2.38 |
| 46 | 2012-01-23 | 2.68 | |
| 54 | 2012-01-26 | 2.69 | |
| 100 | 2012-02-01 | 2.55 | |
| 48 | 2012-02-28 | Variable (Stibor, 3 months) | |
| 450 | 2012-05-02 | 2.41 | |
| Total | 1,145 | ||
| Cash and cash equivalents | 2,264 | 1.94 | |
| Interest risk Instruments (measurement principle) |
Nominal value | Present value weighted real discount rate, % |
| Winnings fund for Triss Månadsklöver lottery | ||
| Within 1 year | 158 | 0.133 |
| Between 1 and 5 years | 561 | 0.072 |
| More than 5 years | 866 | 0.043 |
| Total | 1,585 |