Other Financial Assets

The other financial assets were comprised as follows:

Other Financial Assets

 

 

Dec. 31, 2016

 

Dec. 31, 2017

 

 

Total

Of which current

 

Total

Of which current

 

 

€ million

€ million

 

€ million

€ million

Loans and receivables

 

2,140

2,087

 

1,718

1,501

Available-for-sale financial assets

 

4,629

3,517

 

2,728

1,502

of which debt instruments

 

4,371

3,514

 

2,463

1,499

of which equity instruments

 

258

3

 

265

3

Held-to-maturity financial investments

 

65

8

 

57

15

Receivables from derivatives

 

714

663

 

647

509

Receivables under lease agreements

 

8

 

13

2

Total

 

7,556

6,275

 

5,163

3,529

Loans and receivables included €1,390 million (2016: €1,770 million) in bank deposits and €108 million (2016: €305 million) in commercial paper.

The debt instruments classified as available-for-sale financial assets included capital of €605 million (2016: €612 million) provided to Bayer-Pensionskasse VVaG (Bayer-Pensionskasse) for its effective initial fund, and jouissance right capital (Genussrechtskapital) of €152 million (2016: €154 million), also provided to Bayer-Pensionskasse. Also reported in this category were investments of €1,497 million (2016: €3,513 million) in money market funds.

The equity instruments reported as available-for-sale financial assets included the €101 million (2016: €98 million) investment in CRISPR Therapeutics AG, Switzerland, along with €35 million (2016: €32 million) in instruments whose fair value could not be determined from a stock exchange or other market price or by discounting reliably determinable future cash flows. These equity instruments were recognized at cost.

Further information on the accounting for receivables from derivatives is given in Note “Financial Instruments”.

Receivables under lease agreements relate to finance leases where Bayer is the lessor and the economic owner of the leased assets is the lessee. These receivables comprised expected lease payments of €15 million (2016: €39 million), including €2 million (2016: €31 million) in interest. Of the expected lease payments, €3 million (2016: €1 million) is due within one year, €10 million (2016: €2 million) within the following four years and €2 million (2016: €36 million) in subsequent years.

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