14.10.1. Derivatives and other assets
| Non-current | Current | Total | ||||
| 31/12/2021 | 31/12/2020 (restated data) |
31/12/2021 | 31/12/2020 (restated data) | 31/12/2021 | 31/12/2020 (restated data) | |
| Cash flow hedging instruments | 68 | 109 | 159 | 60 | 227 | 169 |
|
currency forwards |
68 | 109 | 159 | 54 | 227 | 163 |
|
commodity swaps |
– | – | – | 6 | – | 6 |
| Derivatives not designated as hedge accounting | 261 | 70 | 985 | 374 | 1 246 | 444 |
|
currency forwards |
– | – | 4 | 24 | 4 | 24 |
|
commodity swaps |
– | – | 132 | 33 | 132 | 33 |
|
currency interest rate swaps |
202 | 53 | 48 | – | 250 | 53 |
|
interest rate swaps |
2 | – | 4 | – | 6 | – |
|
commodity forwards (CO2 futures) |
42 | 2 | 796 | 316 | 838 | 318 |
|
other |
15 | 15 | 1 | 1 | 16 | 16 |
| Fair value hedging instruments | 14 | – | 5 | 6 | 19 | 6 |
|
commodity swaps |
14 | – | 5 | 6 | 19 | 6 |
| Derivatives | 343 | 179 | 1 149 | 440 | 1 492 | 619 |
| Other financial assets | 133 | 107 | 423 | 541 | 556 | 648 |
|
receivables on settled derivatives |
– | – | 155 | 46 | 155 | 46 |
|
financial assets measured at fair value through other comprehensive income |
81 | 61 | – | – | 81 | 61 |
|
financial assets measured at fair value through profit or loss * |
5 | – | – | – | 5 | – |
|
hedged item adjustment |
– | – | – | 2 | – | 2 |
|
security deposits |
– | 4 | 265 | 421 | 265 | 425 |
|
short-term deposits |
– | – | – | 60 | – | 60 |
|
loans granted |
1 | – | 1 | 1 | 2 | 1 |
|
other |
46 | 42 | 2 | 11 | 48 | 53 |
| Other non-financial assets | 593 | 312 | – | 26 | 593 | 338 |
|
investment property |
327 | 265 | – | – | 327 | 265 |
|
non-current assets classified as held for sale |
– | – | – | 26 | – | 26 |
|
other |
266 | 47 | – | – | 266 | 47 |
| Other assets | 726 | 419 | 423 | 567 | 1 149 | 986 |
As at 31 December 2021 Investment property includes mainly social and office buildings, as well as land. Depending on the characteristics of the property, its fair value was estimated based on the comparative method of appraisal reports prepared by independent experts using observable market information (hierarchy level 2 – value PLN 174 million) or by the income method based on planned future cash flows (hierarchy level 3 – value of PLN 153 million). Comparative method was applied assuming, that the value of assessed property was equal to the market price of a similar property.
The increase in the value of investment properties in 2021 compared to the previous year was mainly due to the increase in the fair value of investment properties resulting from updated valuations, recognition of new assets at the time of acquisition of new units, as well as reclassification of selected assets from owner-occupied properties to investment properties (mainly own land and the right of perpetual usufruct of land).
As at 31 December 2021 and as at 31 December 2020, the position investment property includes right-of-use asset in the amount of PLN 62 million and PLN 50 million, respectively.
As at 31 December 2021 and 31 December 2020, the Group has security deposits that do not meet the definition of cash equivalents concerning mainly hedging of settlement of transactions on the Intercontinental Exchange Inc. (ICE) and the Clearing and Settlement House (Izba Rozliczeniowa Giełd Towarowych S.A. (IRGiT) in Polish) as well as in the Hungarian clearing house Keler CCP (KELER) totally in the amount of PLN 250 million and PLN 416 million, respectively.