Note 30 - Financial instruments

30.1 CARRYING AMOUNT OF DERIVATIVE FINANCIAL INSTRUMENTS
Financial assets and liabilities measured at fair value consist of the following derivative instruments:

  31 Dec. 2020 31 Dec. 2019
Derivative financial instruments with a positive fair value – Assets 17 1
- Financial instruments designated as hedges of debt 16 -
- Currency swaps (effective portion) 1 1
Derivative financial instruments with a negative fair value – Liabilities (3) (10)
- Financial instruments designated as hedges of debt - (8)
- Currency swaps (effective portion) (3) (2)
Total (net) 14 (9)

30.2 FINANCIAL INSTRUMENTS RECOGNISED IN THE BALANCE SHEET

  31 Dec. 2020 Breakdown by category of instrument(1)
Carrying amount Fair value Amortised cost Fair value through other comprehensive income subsequently reclassified to profit or loss Fair value through other comprehensive income not subsequently reclassified to profit or loss Fair value through profit or loss Derivative financial instruments
Investments in non-consolidated companies 43 43     43    
Other non-current financial assets 154 154 154        
Trade receivables 1,050 1,050 1,050        
Derivative financial instruments 17 17         17
Other current financial assets 674 674 674        
Short-term investments - -     -    
Cash equivalents 10 10       10  
Cash and cash equivalents 677 677 677        
Assets 2,625 2,625 2,555   43 10 17
Bonds and bank loans 2,058 2,035   2,058      
Other debt 378 378   378      
Other non-current financial liabilities 31 31 31        
Trade payables 1,042 1,042 1,042        
Derivative financial instruments 3 3         3
Other current financial liabilities 1,192 1,192 1,192        
Liabilities 4,704 4,681 2,265 2,436     3

(1) There were no reclassifications between categories of financial instruments in 2020.

  31 Dec. 2019 Breakdown by category of instrument(1)
Carrying amount Fair value Amortised cost Fair value through other comprehensive income subsequently reclassified to profit or loss Fair value through other comprehensive income not subsequently reclassified to profit or loss Fair value through profit or loss Derivative financial instruments
Investments in non-consolidated companies 43 43     43    
Other non-current financial assets 111 111 111        
Trade receivables 1,068 1,068 1,068        
Derivative financial instruments 1 1         1
Other current financial assets 715 715 715        
Short-term investments - -     -    
Cash equivalents 33 33       33  
Cash 880 880 880        
Assets 2,851 2,851 2,774   43 33 1
Bonds and bank loans 1,754 1,794   1,754      
Other debt 612 612   612      
Other non-current financial liabilities 37 37 37        
Trade payables 1,249 1,249 1,249        
Derivative financial instruments 10 10         10
Other current financial liabilities 1,207 1,207 1,207        
Liabilities 4,869 4,909 2,493 2,366     10

(1) There were no reclassifications between categories of financial instruments in 2019.

30.3 FINANCIAL INSTRUMENTS – FAIR VALUE HIERARCHY
The revised version of IFRS 7 – Financial Instruments – Disclosures, sets out the methods to be used in determining fair value by reference to a fair value hierarchy which has the following levels:
Level 1: Instrument listed in an active market.
Level 2: Instrument valued using techniques based on observable market data.
Level 3: Instrument valued using techniques based on unobservable data.
In addition, certain investments are carried at acquisition cost if the Group does not have sufficiently reliable information for valuation, particularly when there is no active market for an instrument (see note 3.14 above).

Lagardère’s financial instruments are classified as follows under this hierarchy:

31 December 2020 Category of instrument(1) Fair value hierarchy(2) Acquisition cost
Fair value through other comprehensive income not subsequently reclassified to profit or loss Fair value through profit or loss Derivative financial instruments Level 1 Level 2 Level 3
Investments in non-consolidated companies - FCPI Idinvest Digital Fund II - Other 43
11
32		           43
11
32
Derivative financial instruments with a positive fair value     17   17    
Short-term investments - Shares - Bonds -
-
-		     -
-
-		      
Cash equivalents - Marketable securities   10
10		   10
10		      
Total financial instruments with a positive fair value 43 10 17 10 17   43
Derivative financial instruments with a negative fair value     3   3    
Total financial instruments with a negative fair value     3   3    

(1) There were no reclassifications between categories of financial instruments in 2020.
(2) There were no reclassifications between fair value hierarchy levels in 2020.

31 December 2019 Category of instrument(1) Fair value hierarchy(2) Acquisition cost
Fair value through other comprehensive income not subsequently reclassified to profit or loss Fair value through profit or loss Derivative financial instruments Level 1 Level 2 Level 3
Investments in non-consolidated companies - FCPI Idinvest Digital Fund II - Other 43
11
32		           43
11
32
Derivative financial instruments with a positive fair value     1   1    
Short-term investments - Shares - Bonds -
-
-		     -
-
-		      
Cash equivalents - Marketable securities   33
33		   33
33		      
Total financial instruments with a positive fair value 43 33 1 33 1   43
Derivative financial instruments with a negative fair value     10   10    
Total financial instruments with a negative fair value     10   10    

(1) There were no reclassifications between categories of financial instruments in 2019.
(2) There were no reclassifications between fair value hierarchy levels in 2019.