ÖBB Annual Report 2023

Consolidated Financial Statements 296 Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 78 Assets Shareholders’ equity and liabilities in EUR million Carrying amounts as of Dec 31, 2023 Carrying amounts as of Dec 31, 2022 Carrying amounts as of Dec 31, 2023 Carrying amounts as of Dec 31, 2022 Interest rate swaps with cash flow hedges 4.2 13.5 8.5 8.1 Power derivatives without hedge relation 64.2 223.1 79.3 186.3 with cash flow hedges 10.1 295.7 76.4 6.0 Diesel swaps with cash flow hedges 0.5 2.7 3.2 3.3 Other derivatives without hedge relation 0.0 0.0 0.0 4.5 Total 79.0 535.0 167.4 208.2 The other derivatives without a hedging relationship as at 31.12.2022 relate to swaps in connection with the residual position of a terminated cross-border leasing transaction, which was terminated in January 2023. Forward exchange transactions concluded in the 2023 financial year to hedge the open residual positions of the terminated CBL transactions had no material fair value as at 31.12.2023. Fair value hierarchy – Derivatives The following table shows how the fair values of those assets and liabilities that are accounted for at fair value were determined, whereby a classification into a three-level hierarchy reflects the market proximity of the data used in the determination. Dec 31, 2023 in EUR million Level 1 Level 2 Level 3 Total Derivates designated as hedge instrument 0.1 14.8 0.0 14.9 Derivates without a hedging relationship 0.0 64.2 0.0 64.2 Equity instruments 0.0 0.0 9.7 9.7 Financial assets 0.1 79.0 9.7 88.8 Derivates without a hedging relationship 0.0 79.3 0.0 79.3 Derivates designated as hedge instrument 0.0 88.1 0.0 88.1 Financial liabilities 0.0 167.4 0.0 167.4 Dec 31, 2022 in EUR million Level 2 Level 3 Total Derivatives designated as hedge instrument 312.0 0.0 312.0 Derivates without a hedging relationship 223.1 0.0 223.1 Equity instruments 0.0 10.2 10.2 Financial assets 535.1 10.2 545.3 Derivatives without a hedging relationship 190.8 0.0 190.8 Derivates designated as hedge instrument 17.3 0.0 17.3 Financial liabilities 208.1 0.0 208.1 The different levels were determined as follows: Level 1: Quoted prices (unadjusted) are founded in an active market for identical financial instruments. Level 2: Other parameters than those stated for Level 1 were used which are observable for the financial instrument (either directly, i.e., as prices, or indirectly, i.e., derived from prices). In this respect, discounted cash flow models based on observable market parameters (e.g. market interest rates, etc.) were used for the measurement. Forwards in the electricity sector are measured at market prices (EEX), adjusted for credit risks and interest rate components. Level 3: Parameters were used which are not exclusively based on observable market data. No transfers between the individual levels occurred. See Note 29.1 for further details on these financial instruments.