Notes tothe financial statements For the financial year ended 31 December 2023 34. Fair value of assets and liabilities (a) Fair value hierarchy The Group measures non-financial assets, such as biological assets, at fair value at each reporting date. The Group categorises fair value measurements using a fair value hierarchy that is dependent on the valuation inputs used as follows: - Level 1 – Quoted prices (unadjusted) in active market for identical assets or liabilities that the Group can access at the measurement date; - Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and - Level 3 – Unobservable inputs for the asset or liability. Fair value measurements that use inputs of different hierarchy levels are categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. The following table provides the fair value hierarchy of the Group’s assets and liabilities in accordance with the level of inputs to valuation techniques used to measure fair value: Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Recurring fair value measurements Rp million Rp million Rp million As at 31 December 2023 Biological assets-timber plantations (Note 13) – – 322,454 Biological assets-agricultural produce (Note 13) – 268,554 495,862 As at 31 December 2022 Biological assets-timber plantations (Note 13) – – 322,743 Biological assets-agricultural produce (Note 13) – 282,339 487,295 There were no transfers between Level 1 and Level 2, and into or out from Level 3 during the year. 148 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Indofood Agri Resources Ltd
RkJQdWJsaXNoZXIy NTkwNzg=