26 Noncurrent and current other financial liabilities
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|
CARRYING AMOUNT |
CARRYING AMOUNT |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
€ million |
Current |
Noncurrent |
Dec. 31, 2020 |
Current |
Noncurrent |
Dec. 31, 2019 |
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|
|
|
|
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Negative fair values of derivative financial instruments |
1,474 |
1,935 |
3,409 |
2,245 |
1,950 |
4,195 |
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Interest payable |
604 |
97 |
702 |
691 |
116 |
807 |
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Miscellaneous financial liabilities |
8,512 |
2,224 |
10,737 |
7,922 |
2,434 |
10,356 |
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|
10,590 |
4,257 |
14,847 |
10,858 |
4,499 |
15,358 |
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The negative fair values of derivatives relate to the following items:
€ million |
Dec. 31, 2020 |
Dec. 31, 2019 |
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|---|---|---|---|---|
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|
|
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Transactions for hedging |
|
|
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foreign currency risk from assets using fair value hedges |
39 |
107 |
||
foreign currency risk from liabilities using fair value hedges |
39 |
5 |
||
interest rate risk using fair value hedges |
116 |
97 |
||
interest rate risk using cash flow hedges |
100 |
53 |
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foreign currency and price risk from future cash flows (cash flow hedges) |
1,284 |
2,172 |
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Hedging transactions Total |
1,578 |
2,435 |
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Liabilities related to derivatives not included in hedging relationships |
1,831 |
1,760 |
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Total |
3,409 |
4,195 |
Negative fair values of €101 million (previous year: €63 million) were recognized from transactions for hedging interest rate risk (fair value hedges) used in portfolio hedges.
Further details on derivative financial instruments as a whole are given in the section entitled “Financial risk management and financial instruments”.