Volvo Cars - Net debt items Dec 31, 2024
MSEK
Dec 31, 2023
MSEK
Cash and cash equivalents 56,373  47,861
Marketable securities

-

9,918
Liabilities to credit institutions (non current) -3,885  -4,562
Bonds (non-current) 1) -18,590  -18,121

Other interest-bearing non-current liabilities 2)

Liabilities to credit institutions (current) -1,059  -937
Bonds (current) -5,724  -6,672
Net cash 2) -27,115  -27,487
1) The bonds are presented above at amortised cost. The fair value risk of the EUR-denominated bonds is hedged and the bonds with fixed interest payments have been swapped into floating interest payments. Part of the bonds is therefore measured at fair value through the income statement and the remaining part is measured at amortised cost. On 31 December 2024, the fair value component amounted to SEK 235 (-46)m.
 2) The net cash calculation excludes current SEK  -1,242 (-1,500) m and non-current SEK –4,845 (–5,509) m financial liabilities related to IFRS 16