32 – Offsetting of financial assets and financial liabilities
Financial assets and financial liabilities are offset only when the Group has a current and legally enforceable right to set off the recognized amounts and when there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.
OMV enters in the normal course of business into various master netting arrangements in the form of International Swaps and Derivatives Association (ISDA) agreements, European Federation of Energy Traders (EFET) agreements or other similar arrangements.
The tables below show the carrying amounts of recognized financial assets and financial liabilities that are subject to various netting arrangements. The net column would be in the Group’s statement of financial position, if all set-off rights were exercised.
In EUR mn |
|
|
|
|
|
|
|---|---|---|---|---|---|---|
|
Note |
Financial instruments (gross) |
Amounts set off in the statement of financial position |
Financial instruments in the statement of financial position (net) |
Liabilities with right of set-off (not offset) |
Net |
|
|
|
|
|
|
|
|
|
2023 |
||||
Derivative financial instruments |
3,359 |
–2,417 |
942 |
–122 |
820 |
|
Trade receivables |
4,535 |
–1,081 |
3,455 |
–65 |
3,390 |
|
Other sundry financial assets |
1,626 |
–13 |
1,612 |
–1 |
1,611 |
|
Total |
|
9,520 |
–3,511 |
6,009 |
–187 |
5,822 |
|
|
|
|
|
|
|
|
|
2022 |
||||
Derivative financial instruments |
|
13,466 |
–10,219 |
3,247 |
–547 |
2,700 |
Trade receivables |
|
6,086 |
–1,864 |
4,222 |
–106 |
4,116 |
Other sundry financial assets |
|
1,892 |
–42 |
1,850 |
–1 |
1,849 |
Total |
|
21,444 |
–12,125 |
9,318 |
–654 |
8,664 |
In EUR mn |
|
|
|
|
|
|
|---|---|---|---|---|---|---|
|
Note |
Financial instruments (gross) |
Amounts set off in the statement of financial position |
Financial instruments in the statement of financial position (net) |
Assets with right of set-off (not offset) |
Net |
|
|
|
|
|
|
|
|
|
2023 |
||||
Derivative financial instruments |
2,953 |
–2,417 |
536 |
–122 |
415 |
|
Trade payables |
5,035 |
–1,081 |
3,955 |
–65 |
3,890 |
|
Other sundry financial liabilities |
1,217 |
–13 |
1,204 |
–1 |
1,203 |
|
Total |
|
9,206 |
–3,511 |
5,695 |
–187 |
5,508 |
|
|
|
|
|
|
|
|
|
2022 |
||||
Derivative financial instruments |
|
11,835 |
–10,219 |
1,615 |
–547 |
1,068 |
Trade payables |
|
7,123 |
–1,864 |
5,259 |
–106 |
5,153 |
Other sundry financial liabilities |
|
1,089 |
–42 |
1,047 |
–1 |
1,046 |
Total |
|
20,046 |
–12,125 |
7,921 |
–654 |
7,267 |