Cloudberry Annual report 2022 Financial statements 120 FY 2021 NOK million Fianancial assts at amortised cost Liabilities at amortised cost Financial assets - fair value Financial liabilities - fair value Total Derivative financial instrument - - 7 - 7 Other non-current asset 4 - - - 4 Total non-current financial assets 4 - 7 - 10 Trade and other current receivables 85 - - - 85 Cash and cash equivalents 1 115 - - - 1 115 Total current Financial assets 1 200 - - - 1 200 Lease liability - (1) - - (1) Current borrowings - (10) - - (10) Total current financial liabilities - (11) - - (11) Lease liability - (3) - - (3) Financial liability for PPA termination - (5) - - (5) Long term borrowings - (291) - - (291) Derivatives - - - (3) (3) Total non current financial liabilities - (299) - (3) (302) Net financial assets (liabilities) 1 204 (311) 7 (3) 897 Fair value measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: · Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities · Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is observable, directly or indirectly, in a non-active market · Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable and make use of best estimate The fair value of the interest rate swaps derivatives is calculated as the present value of the estimated future cash flows based on observable yield curves (level 2). Changes in fair value relate to daily changes in market prices of the derivative contracts and the volume of contracts. The fair value of the Groups derivative financial instruments has been determined by external banks.
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