Other Financial Assets

The other financial assets were comprised as follows:

Other Financial Assets

 

 

Dec. 31, 2015

 

Dec. 31, 2016

 

 

Total

Of which current

 

Total

Of which current

 

 

€ million

€ million

 

€ million

€ million

Loans and receivables

 

65

21

 

2,140

2,087

Available-for-sale financial assets

 

1,177

266

 

4,629

3,517

of which debt instruments

 

1,092

262

 

4,371

3,514

of which equity instruments

 

85

4

 

258

3

Held-to-maturity financial investments

 

73

6

 

65

8

Receivables from derivatives

 

526

463

 

714

663

Receivables under lease agreements

 

7

 

8

Total

 

1,848

756

 

7,556

6,275

Loans and receivables included €1,770 million in bank deposits and €305 million in commercial paper.

The debt instruments categorized as available-for-sale financial assets included capital of €612 million (2015: €610 million) provided to Bayer-Pensionskasse VVaG (Bayer-Pensionskasse) for its effective initial fund, and jouissance right capital (Genussrechtskapital) of €154 million (2015: €153 million), also provided to Bayer-Pensionskasse. Also reported in this category were investments of €3,513 million (2015: €119 million) in money market funds.

The equity instruments categorized as available-for-sale financial assets included the €98 million interest held in CRISPR Therapeutics AG, Switzerland, along with €32 million (2015: €40 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 the 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 €39 million (2015: €38 million), including €31 million (2015: €31 million) in interest. Of the expected lease payments, €1 million (2015: €1 million) is due within one year, €2 million (2015: €2 million) within the following four years and €36 million (2015: €35 million) in subsequent years.