26 Noncurrent and current other financial liabilities

 

 

CARRYING AMOUNT

 

CARRYING AMOUNT

€ million

 

Current

 

Noncurrent

 

Dec. 31, 2020

 

Current

 

Noncurrent

 

Dec. 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

Negative fair values of derivative financial instruments

 

1,474

 

1,935

 

3,409

 

2,245

 

1,950

 

4,195

Interest payable

 

604

 

97

 

702

 

691

 

116

 

807

Miscellaneous financial liabilities

 

8,512

 

2,224

 

10,737

 

7,922

 

2,434

 

10,356

 

 

10,590

 

4,257

 

14,847

 

10,858

 

4,499

 

15,358

The negative fair values of derivatives relate to the following items:

€ million

 

Dec. 31, 2020

 

Dec. 31, 2019

 

 

 

 

 

Transactions for hedging

 

 

 

 

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

foreign currency and price risk from future cash flows (cash flow hedges)

 

1,284

 

2,172

Hedging transactions Total

 

1,578

 

2,435

Liabilities related to derivatives not included in hedging relationships

 

1,831

 

1,760

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”.