Financial performance 2024 consolidated financial statements 05 9.3.2 Loans from financial institutions and other Loans from financial institutions and other consist mainly of drawdowns on the Group's credit lines. At December 31, 2024, loans from financial institutions totaled €354 million (2023: €357 million). Most of the loans were denominated in EUR, THB and USD, and most were at variable interest rates. The contractual re-pricing of the interest rates of these loans is generally less than six months. 9.4 Non-current financial assets and other non‑current assets The carrying amount of the non-current financial assets and other non-current assets is analyzed in the table below: (in € millions) December 31, 2024 December 31, 2023 Equity investments 373 412 Loans and deposits 356 540 Solesis preferred shares 282 250 Derivatives (note 17.1.1) 19 83 Pension plan surpluses (note 8.1.1) 109 305 Other 12 15 NON-CURRENT FINANCIAL ASSETS AND OTHER NON‑CURRENT ASSETS 1,151 1,605 9.4.1 Equity investments Unconsolidated equity investments consist primarily of a portfolio of shares in unlisted companies (note 17.3.1). Movements in the portfolio during the year are presented in the table below: (in € millions) 2024 2023 At January 1 412 387 Translation adjustments 7 (5) Acquisitions 11 28 Disposals (12) - Changes in scope of consolidation (1) - Fair value changes (44) 2 AT DECEMBER 31 373 412 394 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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