11. Financial Instruments

The tables below show the carrying amounts and fair values of financial assets and financial liabilities, as well as their level in the fair value hierarchy.

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Financial Assets as of 30 June 2017
in € thousand	Carrying amount			Fair Value
	Loans and receivables	Available for sale	Balance sheet value	Level 1	Level 2	Level 3	Total
Financial assets measured at fair value
Financial assets (securities)		4,001	4,001	4,001			4,001
	0	4,001	4,001
Financial assets not measured at fair value
Financial assets	14,826	2,896	17,722
Trade receivables	160,030		160,030
Receivables from related parties	80,985		80,985
Other financial receivables	2,896		2,896
Cash, cash equivalents and short-term deposits	166,082		166,082
	424,819	2,896	427,715

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Financial Liabilities as of 30 June 2017
in € thousand	Carrying amount				Fair Value
	Held for trading	Fair value – hedging instruments	Other financial liabilities	Balance sheet value	Level 1	Level 2	Level 3	Total
Financial liabilities measured at fair value
Financial liabilities				0				0
	0	0	0	0
Financial liabilities not measured at fair value
Financial liabilities (liabilities from bank loans)			277,025	277,025		281,928		281,928
Financial liabilities (finance lease liabilities)			39,481	39,481		39,481		39,481
Financial liabilities (settlement obligation)			18,045	18,045		18,045		18,045
Financial liabilities (other)			42,485	42,485		42,485
Trade liabilities			68,043	68,043
Liabilties to related parties (finance lease liabilties)			106,120	106,120		142,393		142,393
Liabilities to related parties (other)			6,778	6,778
	0	0	557,977	557,977

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Financial Assets as of 31 December 2016
in € thousand	Carrying amount			Fair Value
	Loans and receivables	Available for sale	Balance sheet value	Level 1	Level 2	Level 3	Total
Financial assets measured at fair value
Financial assets (securities)		3,940	3,940	3,940			3,940
	0	3,940	3,940
Financial assets not measured at fair value
Financial assets	14,434	2,896	17,330
Trade receivables	160,440		160,440
Receivables from related parties	81,736		81,736
Other financial receivables	2,172		2,172
Cash, cash equivalents and short-term deposits	177,192		177,192
	435,974	2,896	438,870

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Financial Liabilities as of 31 December 2016
in € thousand	Carrying amount				Fair Value
	Held for trading	Fair value – hedging instruments	Other financial liabilities	Balance sheet value	Level 1	Level 2	Level 3	Total
Financial liabilities measured at fair value
Financial liabilities				0				0
	0	0	0	0
Financial liabilities not measured at fair value
Financial liabilities (liabilities from bank loans)			298,350	298,350		304,780		304,780
Financial liabilities (finance lease liabilities)			39,043	39,043		39,043		39,043
Financial liabilities (settlement obligation, long-term)			18,045	18,045		18,045		18,045
Financial liabilities (settlement obligation, short-term)			22,603	22,603
Financial liabilities (other)			37,723	37,723		37,723		37,723
Trade liabilities			68,106	68,106
Liabilties to related parties (finance lease liabilties)			106,304	106,304		149,820		149,820
Liabilities to related parties (other)			8,950	8,950
	0	0	599,124	599,124

In the first half of 2017, gains of € 742 thousand (30 June 2016: € 36 thousand) were recognised in the income statement on financial assets and/or liabilities held at fair value through profit and loss. These primarily related to interest rate hedges in the previous year, while currency futures with no effective hedging relationship as per IAS 39 made up the bulk in the first half of 2017.

Currency futures contracts concluded in the reporting period covering a total amount of € 1,638 thousand have a remaining term of approximately three years.

In the first half of 2016, changes of € 118 thousand in the fair value of financial instruments designated as hedging instruments (interest rate swaps) were taken directly to equity. There were no interest rate swaps in the first six months of 2017.

The valuation methods and key unobservable input factors for calculating fair value are described in the Notes to the Consolidated Financial Statements as of 31 December 2016.