| 10. | Fair value measurement |
Set out below is a comparison by class of the carrying amounts and fair value of the Group’s financial instruments that are carried in the consolidated financial statements:
| December 31, 2017 | December 31, 2016 | |||||||||||||||||||
| Level | Carrying amount |
Fair value |
Carrying amount |
Fair value |
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Financial liabilities |
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Interest-bearing loans and borrowings: |
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— Floating rate loans |
3 | 402,024 | 355,794 | 407,015 | 357,782 | |||||||||||||||
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— Bonds |
1 | 14,759 | 13,984 | 14,717 | 12,740 | |||||||||||||||
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— Fixed rate loans |
3 | 23,110 | 20,505 | 24,077 | 23,105 | |||||||||||||||
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Other non-current financial liabilities (Note 11.4) |
3 | 40,916 | 33,854 | 36,198 | 25,772 | |||||||||||||||
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Other current financial liabilities (Note 11.5) |
2 | 734 | 734 | — | — | |||||||||||||||
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Total |
481,543 | 424,871 | 482,007 | 419,399 | ||||||||||||||||
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Management assessed that the fair values of cash and short-term deposits, trade receivables, trade payables, bank overdrafts and other current liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.
The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.