5 Financial assets
Financial assets are generally measured at their nominal value. Marketable securities included in financial assets are measured at fair value. Changes in value are recognized in financial income or financial expenses.
Financial assets also comprise the replacement values of derivative financial instruments. Group companies hedge their transaction-related foreign currency risks centrally with Schindler Holding Ltd., which aggregates transaction risks by currency and thus creates natural hedging relationships. The remaining transaction risks are hedged with high-quality credit-rated financial institutions. Derivative financial instruments are measured at their market value. Positive replacement values are recognized within financial assets whereas negative replacement values are recognized within other current liabilities. Revaluation gains and losses are recognized in financial income and expense respectively.
| In CHF million | 2024 | 2023 1 | ||
|---|---|---|---|---|
| Time deposits | 1 355 | 1 125 | ||
| Marketable securities | 91 | 90 | ||
| Positive replacement values - third parties | 13 | 16 | ||
| Positive replacement values - Group companies | 8 | 14 | ||
| Total current financial assets | 1 467 | 1 245 | ||
| Time deposits | 175 | 30 | ||
| Marketable securities | 104 | 104 | ||
| Other non-current financial assets | 7 | 4 | ||
| Total non-current financial assets | 286 | 138 | ||
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1 See note 3 for information on the change in presentation
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Forward exchange transactions with a positive replacement value have a nominal amount of CHF 1 078 million (previous year: CHF 1 162 million).