42
JOTUN GROUP
2016 FINANCIAL
INSTRUMENTS FINANCIAL
AT FAIR VALUES LIABILITIES
MEASURE- THROUGH MEASURED AT DEPOSITS OF THIS
MENT STATEMENT OF AMORTISED AND INTEREST
(NOK THOUSAND) NOTE LEVEL INCOME COST RECEIVABLES TOTAL BEARING
NON-CURRENT ASSETS
Share investments 3 8 248 8 248
Non-current financial receivables 125 415 125 415 125 415
Total 8 248 125 415 133 663 125 415
CURRENT ASSETS
Accounts receivable 13 3 865 385 3 865 385
Other current receivables 13 638 934 638 934
Cash and cash equivalents 14 1 586 034 1 586 034 1 586 034
Total 6 090 354 6 090 354 1 586 034
Total financial assets 8 248 6 215 769 6 224 016 1 711 449
NON-CURRENT LIABILITIES
Non-current
Financial liabilities 15 2 2 357 102 2 357 102 2 357 102
Total 2 357 102 2 357 102 2 357 102
CURRENT LIABILITIES
Interest-bearing debt 15, 11 877 352 877 352 877 352
Trade and other payables 1 693 379 1 693 379
Current tax liabilities 6 159 554 159 554
Other liabilities 16 1 729 258 1 729 258
Current derivatives 11 1 –14 625 –14 625
Total –14 625 4 459 542 4 444 918 877 352
Total financial liabilities –14 625 6 816 644 6 802 020 3 234 454
Measurement level definitions:
Level 1: Recorded fair value based on quoted, unadjusted prices in active markets for identical assets and liabilities
Level 2: Recorded fair value based on valuation using observable market data, directly or indirectly, as input
Level 3: Recorded fair value based on valuation without availability of any observable market data as input
Share investments consists of 33.4 per cent of the shares in Nor-Maali and El-Mohandes Jotun S.A.E. share of ownership in office building in Egypt.
13 TRADE AND OTHER RECEIVABLES
The Group discloses trade and other receivables net of allowance for credit losses. Allowances for credit losses have been recorded
upon individual evaluation of the accounts receivable and other receivables. Realised losses for bad debt are classified as other operating
expenses in the income statement. Bank receivables consist of bank drafts received from customers for payment of accounts receivable.
TRADE AND OTHER RECEIVABLES
(NOK THOUSAND) 31.12.2017 31.12.2016
Accounts receivable 4 208 584 3 865 385
Bank receivables 189 348 249 394
Other receivables 406 449 389 540
Total 4 804 382 4 504 319