17 Noncurrent and current other financial assets

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CARRYING AMOUNT

 

CARRYING AMOUNT

€ million

 

Current

 

Non­current

 

Dec. 31, 2015

 

Current

 

Non­current

 

Dec. 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

Positive fair value of derivatives

 

2,081

 

2,246

 

4,326

 

1,551

 

2,047

 

3,598

Marketable securities

 

 

1,387

 

1,387

 

 

1,546

 

1,546

Receivables from loans, bonds, profit participation rights (excluding interest)

 

4,286

 

2,169

 

6,455

 

3,533

 

2,170

 

5,704

Miscellaneous financial assets

 

3,677

 

928

 

4,604

 

2,608

 

735

 

3,343

 

 

10,043

 

6,730

 

16,773

 

7,693

 

6,498

 

14,190

Other financial assets include receivables from related parties of €6,010 million (previous year: €5,055 million). Other financial assets and noncurrent marketable securities amounting to €1,897 million (previous year adjusted: €1,945 million) were furnished as collateral for financial liabilities and contingent liabilities. There is no original right of disposal or pledge for the furnished collateral on the part of the collateral taker.

There are restrictions on the disposal of the certificates of deposit amounting to €1.3 billion reported in noncurrent securities (see the disclosures on “Interests in joint ventures”). In addition, the miscellaneous financial assets include cash and cash equivalents that serve as collateral (mainly under asset-backed securities transactions).

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

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€ million

 

Dec. 31, 2015

 

Dec. 31, 2014

 

 

 

 

 

Transactions for hedging

 

 

 

 

foreign currency risk from assets using fair value hedges

 

310

 

212

foreign currency risk from liabilities using fair value hedges

 

190

 

190

interest rate risk using fair value hedges

 

681

 

681

interest rate risk using cash flow hedges

 

19

 

4

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

 

1,735

 

1,690

Hedging transactions

 

2,936

 

2,778

Assets related to derivatives not included in hedging relationships

 

1,391

 

820

 

 

4,326

 

3,598

The positive fair value of transactions for hedging price risk from future cash flows (cash flow hedges) amounted to €0 million (previous year: €1 million).

Positive fair values of €1 million (previous year: €1 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 note 34.