AAK Annual Report 2018

Provisions for doubtful accounts receivable 2018 2017 Provisions at January 1 41 32 Provisions for potential losses 4 14 Reversed amount that is not recoverable - -2 Unused amount reversed -5 -1 Exchange differences 1 -2 Provisions at December 31 41 41 Provisions for impairments are entirely related to accounts receivable. Total accounts receivable excluding provisions were SEK 3,400 million (3,251). Past due assets not considered impaired SEK million 2018 2017 1–30 days 423 437 31–120 days 53 97 121–360 days 59 12 Over 360 days 9 2 544 548 3 Note Financial risk management and hedge accounting Derivatives classified as financial instruments The Group had two classes of financial instruments (hedging instruments): raw material hedge contracts and currency hedge contracts, all measured at fair value. The fair value of the derivative financial instruments is measured using valuation methods and observable market data (methodology: level 2). The valuation methods applied are described in the accounting policy. The Group’s financial assets and liabilities measured at fair value As at December 31, 2018 Assets and liabilities measured at fair value through the income statement Derivatives held for hedging purposes Derivatives measured at fair value through equity SEK million Carrying amount Valuation level Carrying amount Valuation level Carrying amount Valuation level Total Sales and purchase contracts 544 2 544 Currency hedge contracts 123 2 123 Fair value of changes in inventories 31 2 31 Total assets - 698 - 698 Sales and purchase contracts 180 2 180 Currency hedge contracts 78 2 78 Fair value of changes in inventories 32 2 32 Total liabilities - 290 - 290 As at December 31, 2017 Assets and liabilities measured at fair value through the income statement Derivatives held for hedging purposes Derivatives measured at fair value through equity SEK million Carrying amount Valuation level Carrying amount Valuation level Carrying amount Valuation level Total Sales and purchase contracts 380 2 380 Currency hedge contracts 122 2 122 Fair value of changes in inventories 54 2 54 Total assets - 556 - 556 Sales and purchase contracts 238 2 238 Currency hedge contracts 147 2 147 Fair value of changes in inventories 41 2 41 Total liabilities - 426 - 426 77