In the first three months of 2013, the Group entered into sale and leaseback transactions for two self-produced 3D printers with a total value of kEUR 870. Related manufacturing costs were kEUR 467. The gain of kEUR 403 was deferred and is amortized over the respective lease term. No sale and leaseback transactions occurred in the first quarter of 2014.
In the first quarter of 2014, the Group early terminated three sale and leaseback transactions. As a result of the early terminations, kEUR 694 of liabilities were extinguished, kEUR 401 of deferred income was recognized as other operating income, and kEUR 47 of extinguishment loss was recognized.
Leases of 3D printers are non-cash transactions for purposes of the consolidated statement of cash flows.
6. Financial instruments
The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
The fair values and carrying amounts of financial liabilities for the considered reporting periods were as follows:
| 03/31/2014 | 12/31/2013 | |||||||||
|
carrying amount |
fair value |
carrying amount |
fair value | |||||||
| Thousands of Euros | ||||||||||
| Bank overdrafts and lines of credit | 700 | 700 | 758 | 758 | ||||||
| Long-term debt | 275 | 291 | 1,507 | 1,573 | ||||||
| Finance lease obligations | 2,529 | 2,554 | 3,520 | 3,549 | ||||||
| Total | 3,504 | 3,545 | 5,785 | 5,880 | ||||||
