67 37. Financial instruments 37.1 Derivatives As at 31 December 2023 and 2022, derivative assets and liabilities held for trading derivatives that are not designated in hedge accounting relationships carried at fair value through profit or loss were as follows: (Unit: Million Baht) Statement of financial position Consolidated financial statements Separate financial statements 2023 2022 2023 2022 Derivative assets - current Forward contracts 75 - 75 - Derivative assets - non-current Interest rate swap contracts 67 155 67 155 Total derivative assets 142 155 142 155 Derivative liabilities - current Cross currency interest rate swap contracts 137 62 137 62 Derivative liabilities - non-current Cross currency interest rate swap contracts - 87 - 87 Total derivative liabilities 137 149 137 149 The Group has not entered into netting agreements with the counterparties for above derivatives. Significant contracts related to derivatives are as follows: Foreign exchange forward contracts As at 31 December 2023, the Company has entered into foreign exchange forward contracts in USD with three financial institutions totaling USD 142 million (2022: None) to mitigate the risk of exchange rate fluctuations. The average foreign exchange forward rate ranged from 34.22 to 35.00 Baht per USD. These contracts are effective from 18 December 2023 to 17 January 2024. 360 IRPC Public Company Limited Notes to the Consolidate Financial Statements
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