05 Financial performance 2024 consolidated financial statements 17.3.1 Classification of financial assets Group financial assets break down as follows between the categories “at fair value through profit or loss (FVTPL)”, “at fair value through other comprehensive income (FVOCI)” and “at amortized cost” at December 31, 2024: (in € millions) FVTPL FVOCI Amortized cost Total 2024 Trade receivables - - 3,595 3,595 Current financial assets 82 - 462 544 Cash and cash equivalents 2,889 - 1,047 3,936 Non-current financial assets 314 374 463 1,151 TOTAL FINANCIAL ASSETS 3,285 374 5,568 9,227 Non-current financial assets at fair value through profit or loss consist mainly of Solesis preference shares. Investments in non-consolidated companies are measured at fair value through other comprehensive income (note 9.4). 17.3.2 Fair value measurement hierarchy The following tables present Group assets and liabilities measured at fair value at December 31, 2024 and 2023 by level in the fair value measurement hierarchy: (in € millions) Level 1 Level 2 Level 3 Total 2024 Cash and cash equivalents 2,889 - - 2,889 Current financial assets (including derivatives) 40 42 - 82 Non-current financial assets (including derivatives) 31 301 356 688 TOTAL ASSETS 2,960 343 356 3,659 Derivative instruments - 70 - 70 TOTAL LIABILITIES - 70 - 70 (in € millions) Level 1 Level 2 Level 3 Total 2023 Cash and cash equivalents 1,282 - - 1,282 Current financial assets (including derivatives) 43 35 - 78 Non-current financial assets (including derivatives) 159 334 387 880 TOTAL ASSETS 1,484 369 387 2,240 Derivative instruments - 20 - 20 TOTAL LIABILITIES - 20 - 20 There has been no significant transfer during these two years between level 1 and level 2. The following table presents the changes in level 3 instruments for the year ended December 31, 2024: (in € millions) At January 1, 2024 387 Acquisitions 10 Disposals (12) Gains or losses for the year recognized in other comprehensive income (36) Other 7 AT DECEMBER 31, 2024 356 425 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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