" alt="Alpiq Banner Interim Report" />12 Long-term financial investments
| CHF million | Financial investments | Loans receivable | Total |
|---|---|---|---|
| Carrying amount at 31 December 2007 | 299 | 9 | 308 |
| Additions | 4 | 10 | 14 |
| Changes in fair value | 19 | 19 | |
| Reclassifications | – 284 | – 284 | |
| Disposals | – 3 | – 10 | – 13 |
| Exchange differences | – 1 | – 1 | – 2 |
| Carrying amount at 31 December 2008 | 34 | 8 | 42 |
| Acquisition / disposal of subsidiaries | 14 | 6 | 20 |
| Additions | 31 | 31 | |
| Changes in fair value | – 1 | – 1 | – 2 |
| Reclassifications | – 6 | – 6 | |
| Disposals | – 6 | – 1 | – 7 |
| Carrying amount at 31 December 2009 | 35 | 43 | 78 |
Alpiq owns a 10% interest in Romande Energie Holding SA, Morges. Its representation on the company's Board of Directors since 2008 has increased the Group's influence over operating and financial policy decisions. Due to this change in circumstances, the investment was reclassified from "financial investments" to "investments in associates" in 2008.