16. Securities
|
|
Dec. 31, 2023 |
|
Dec. 31, 2024 |
|||
|---|---|---|---|---|---|---|---|
Non-current securities1 |
|
2,811 |
|
2,466 |
|||
Amortized cost |
|
2,675 |
|
2,298 |
|||
Fair value through other comprehensive income |
|
136 |
|
168 |
|||
Current securities1 |
|
1,091 |
|
1,159 |
|||
Amortized cost |
|
755 |
|
703 |
|||
Fair value through other comprehensive income |
|
48 |
|
35 |
|||
Fair value through profit or loss |
|
288 |
|
421 |
|||
|
|
3,902 |
|
3,625 |
|||
|
|||||||
In total, the Beiersdorf Group holds €3,625 million (previous year: €3,902 million) in listed government and corporate bonds, commercial paper, near-money market retail funds, and equity funds. Securities with a carrying amount of €2,466 million (previous year: €2,811 million) are expected to be realized more than 12 months after the reporting date. During the year €651 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 five 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 €4 million (previous year: €5 million). Please refer to Note 30 “Additional Disclosures on Financial Instruments, Financial Risk Management, and Derivative Financial Instruments” for additional information.