16. Securities
|
|
Dec. 31, 2022 |
|
Dec. 31, 2023 |
|---|---|---|---|---|
Non-current securities |
|
3,184 |
|
2,675 |
Amortized cost |
|
3,184 |
|
2,675 |
Current securities |
|
771 |
|
1,227 |
Amortized cost |
|
533 |
|
755 |
Fair value through other comprehensive income |
|
155 |
|
184 |
Fair value through profit or loss |
|
83 |
|
288 |
|
|
3,955 |
|
3,902 |
In total, the Beiersdorf Group holds €3,902 million (previous year: €3,955 million) in listed government and corporate bonds, commercial paper, near-money market retail funds, and equity funds. Securities with a carrying amount of €2,675 million (previous year: €3,184 million) are expected to be realized more than 12 months after the reporting date. During the year €777 million of securities were reclassified from Non-current to Current in line with their remaining maturities. Non-current securities have a term of up to six years.
Impairments on securities measured at amortized cost and at fair value through other comprehensive income are recognized based on expected credit losses over the next 12 months. At the end of the period, total impairment was €5 million (previous year: €7 million). Please refer to Note 29 “Additional Disclosures on Financial Instruments, Financial Risk Management, and Derivative Financial Instruments.”