26. Non-current and current other financial liabilities
|
|
CARRYING AMOUNT |
|
CARRYING AMOUNT |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
€ million |
|
Current |
|
Non-current |
|
Dec. 31, 2024 |
|
Current |
|
Non-current |
|
Dec. 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Negative fair values of derivative financial instruments |
|
3,240 |
|
4,144 |
|
7,383 |
|
2,649 |
|
4,680 |
|
7,329 |
Interest payable |
|
1,407 |
|
254 |
|
1,661 |
|
1,256 |
|
281 |
|
1,537 |
Miscellaneous financial liabilities |
|
9,717 |
|
2,151 |
|
11,868 |
|
10,117 |
|
2,006 |
|
12,123 |
|
|
14,364 |
|
6,548 |
|
20,913 |
|
14,022 |
|
6,968 |
|
20,990 |
Miscellaneous current financial liabilities relate mainly to buy-back agreements in an amount of €2,802 million (previous year: €3,225 million) and deferred liabilities of €1,434 million (previous year: €1,115 million).
The negative fair values of derivatives relate to the following items:
€ million |
|
Dec. 31, 2024 |
|
Dec. 31, 2023 |
|---|---|---|---|---|
|
|
|
|
|
Transactions for hedging |
|
|
|
|
foreign currency risk from assets using fair value hedges |
|
16 |
|
30 |
foreign currency risk from liabilities using fair value hedges |
|
22 |
|
81 |
interest rate risk using fair value hedges |
|
1,104 |
|
1,793 |
interest rate risk using cash flow hedges |
|
89 |
|
64 |
foreign currency and price risk from future cash flows (cash flow hedges) |
|
3,448 |
|
2,443 |
Hedging transactions Total |
|
4,678 |
|
4,412 |
Liabilities related to derivatives not included in hedging relationships |
|
2,705 |
|
2,918 |
Total |
|
7,383 |
|
7,329 |
Negative fair values of €100 million (previous year: €110 million) were recognized from transactions for hedging interest rate risk (fair value hedges) designated in portfolio hedges.
Further details on derivative financial instruments as a whole are given in the section entitled “Financial risk management and financial instruments”.