2.2 Financial assets and financial receivables
| in CHF mn | 2023 | 2022 | ||
|---|---|---|---|---|
| Time deposit investments | – | 70.0 | ||
| Bond funds | 17.2 | 18.7 | ||
| Other current financial assets | – | 0.3 | ||
| Current financial assets | 17.2 | 89.1 | ||
| Receivables from loans | 1.6 | 1.3 | ||
| Other current financial assets | 29.3 | 38.1 | ||
| Current financial receivables | 31.0 | 39.4 | ||
| Other investments | 49.1 | 34.5 | ||
| Non-current loans to third parties | 157.1 | 149.7 | ||
| Non-current loans to associates / joint ventures / related parties | 19.2 | 21.1 | ||
| Other non-current financial assets | 3.1 | 2.7 | ||
| Non-current financial assets | 228.5 | 208.0 |
The decline in current financial assets resulted mainly from the reduction in investments in time deposits amounting to CHF 70.0 million.
Current financial receivables mainly declined as a result of the offsetting with the dividend to Ringier.
Non-current financial assets increased by CHF 20.5 million in the financial year. The increase is mainly attributable to investments involving both other new investments such as Cashlink Technologies GmbH, Lano Software GmbH, Relio AG, Tidely GmbH, SAASCADA LTD and Triple Technologies Ltd and other existing investments such as PriceHubble AG, Selma Finance Oy and Switzerlend AG. In the reporting year, positive changes were made to measurements associated with Selma Finance Oy and Switzerlend AG, which were recorded in other comprehensive income. See also «Financial instruments» in Note 3.4.
Accounting policies
Current financial assets
Current financial assets include marketable securities, time, sight and demand deposits with an original maturity of more than three months but not more than twelve months, as well as current derivative financial instruments.
Publicly traded marketable securities are measured at quoted market prices as of the balance sheet date. Securities that are not publicly traded are measured at estimated fair value. Time, sight and demand deposits are measured at nominal value. Any realised and unrealised price differences for these items and for marketable securities are recognised in the income statement, with the exception of unrealised price differences for derivative financial instruments designated as accounting hedges.
Non-current financial assets
Non-current financial assets include other investments, non-current loans, non-current derivative financial instruments and other non-current financial assets.
Other investments (less than 20 per cent of the voting rights) are stated at fair value. If these are equity instruments, unrealised gains / losses – net after taxes – are recognised as other comprehensive income directly in equity until realised. If they are not equity instruments, they are treated at fair value and all changes in the measurement of assets are recognised in the net income / (loss).
Non-current loans are measured at amortised cost.
Non-current derivative financial instruments (fair value through profit and loss) are measured at fair value. Both realised and unrealised price differences are recognised in the income statement, with the exception of those for derivative financial instruments designated as cash flow hedges.
Other non-current financial assets («fair value through other comprehensive income») are also measured at fair value. Unrealised gains – net after taxes – are recognised as other comprehensive income. Impairment losses are recognised in the income statement.