Fair value hierarchy classifications, valuation technique and inputs for fair value measurements of the financial instruments not measured at fair value but for which the fair value is disclosed as of December 31, 2016 and December 31, 2017 are as follows:
| (In millions of won) | December 31, 2016 |
Valuation technique |
Input |
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|
Classification |
Level 1 | Level 2 | Level 3 | |||||||||||||
|
Liabilities |
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|
Secured bank borrowings |
— | — | 700,820 | Discounted cash flow | Discount rate | |||||||||||
|
Unsecured bank borrowings |
— | — | 2,200,522 | Discounted cash flow | Discount rate | |||||||||||
|
Unsecured bond issues |
— | — | 1,903,863 | Discounted cash flow | Discount rate | |||||||||||
|
Other accounts payable |
— | — | 2,449,938 | Discounted cash flow | Discount rate | |||||||||||
|
Long-term other accounts payable |
— | — | 3,891 | Discounted cash flow | Discount rate | |||||||||||
| (In millions of won) | December 31, 2017 |
Valuation technique |
Input |
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|
Classification |
Level 1 | Level 2 | Level 3 | |||||||||||||
|
Liabilities |
||||||||||||||||
|
Secured bank borrowings |
— | — | 642,172 | Discounted cash flow | Discount rate | |||||||||||
|
Unsecured bank borrowings |
— | — | 2,955,399 | Discounted cash flow | Discount rate | |||||||||||
|
Unsecured bond issues |
— | — | 2,016,086 | Discounted cash flow | Discount rate | |||||||||||
|
Other accounts payable |
— | — | 3,170,147 | Discounted cash flow | Discount rate | |||||||||||
The interest rates applied for determination of the above fair value at the reporting date are as follows:
| December 31, 2016 | December 31, 2017 | |||
|
Borrowings, bonds and others |
1.48~2.68% | 1.57~2.92% |