16. Other Financial Assets
Other financial assets consisted of the following items:
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Dec. 31, 2021 |
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Dec. 31, 2022 |
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Total |
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Of which current |
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Total |
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Of which current |
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€ million |
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€ million |
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€ million |
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€ million |
Geldmarktfonds |
|
65 |
|
65 |
|
– |
|
– |
Ausleihungen und Bankeinlagen |
|
402 |
|
394 |
|
128 |
|
17 |
Sonstige Finanzanlagen |
|
27 |
|
– |
|
24 |
|
– |
Forderungen aus Derivaten |
|
40 |
|
34 |
|
45 |
|
45 |
Leasingforderungen |
|
8 |
|
– |
|
8 |
|
– |
Gesamt |
|
542 |
|
493 |
|
205 |
|
62 |
As of the reporting date, December 31, 2022, loans and bank deposits particularly included initial fund loans in the amount of €101 million which were requested by Bayer-Pensionskasse VVaG, Leverkusen (Germany), and Rheinische Pensionskasse VVaG, Leverkusen (Germany), in the fiscal year. In the previous year, the item consisted primarily of bank deposits totaling €388 million. These fell by €373 million to €15 million in the fiscal year.
Receivables from derivatives included forward exchange contracts of €42 million (previous year: €34 million) and embedded derivatives of €3 million (previous year: €6 million).
- See note 24.2 “Financial Risk Management and Information on Derivatives.”
- See note 24.1 “Financial Instruments by Category” for further information regarding money market funds, loans and bank deposits and other investments.
Receivables under lease agreements relate to finance leases where Covestro is the lessor and the counterparty is the economic owner of the leased assets. Receivables under lease agreements are based on expected future lease payments of €41 million (previous year: €32 million) including an interest component of €33 million (previous year: €24 million). In the reporting year, interest income from finance leases of €1 million (previous year: €1 million) was recognized. Of the expected lease payments, €1 million is due within one year (previous year: €1 million), €4 million is due within the following four years (previous year: €3 million), and €36 million is due in subsequent years (previous year: €28 million).