ties have a valuation basis of level 1 classification, which comprises financial instruments where fair value is determined by unadjusted quoted prices in active markets for identical assets and liabilities.
€
937 million (2024: nil) of equity securities have a valuation basis level 3 classification, due to some of the inputs to the valuation model being unobservable inputs. The remaining items are measured at fair value and the basis is level 2 classification, which comprises items where fair value is determined from inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly.
2.
Includes
€
913 million (2024: nil) of
non-current
investments in sovereign securities measured at amortised cost and a fair value of
€
909 million (2024: nil) with a valuation basis of level 1 classification. Also includes
€
864 million (2024:
€
830 million) of items with a fair value of
€
788 million (2024:
€
810 million) with a valuation basis of level 2 classification.
The fair value of the remaining balance approximates the carrying value measured at amortised cost.
3.
Items are measured at fair value and the valuation basis is level 1 classification.
4.
Items are measured at amortised cost and the carrying amount approximates fair value.
5.
Includes investments measured at a fair value of
€
365 million (2024:
€
459 million). The valuation basis is level 1. The remaining items are measured at amortised cost and the carrying amount approximates fair value.