23. Current Financial Debts
Audited information- Index
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in CHF m |
31.12.2019 |
31.12.2018 |
||
|---|---|---|---|---|
Banks and other financial institutions |
194 |
244 |
||
Current portion of non-current financial debts (see note 18) |
393 |
285 |
||
Total |
587 |
529 |
||
Breakdown by maturity: |
|
|
||
in CHF m |
31.12.2019 |
31.12.2018 |
||
Up to three months after the balance sheet date |
166 |
227 |
||
Three to six months after the balance sheet date |
176 |
297 |
||
Six to twelve months after the balance sheet date |
245 |
5 |
||
Total |
587 |
529 |
||
Reclassified to held for sale |
— |
— |
||
Total current financial debts as reported in the balance sheet |
587 |
529 |
On 24 April 2019 a bond issued in 2012 in the amount of CHF 285 million reached maturity and was repaid.
Two certificates of indebtness issued in 2015 with nominal value of EUR 150 million and two certificates of indebtness issued in 2016 with nominal value of EUR 212 million will fall due in 2020 and were therefore reclassified to current financial debts.
Current financial debt is recognized initially at fair value, net of transaction costs incurred. Financial debt is subsequently stated at amortized cost. Except for the derivatives, there are no current financial liabilities valued at fair value through profit and loss.
The fair value of financial debt at banks and other financial institutions approximates its carrying amount due to the short-term nature of these instruments.