26 Noncurrent and current other financial liabilities
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CARRYING AMOUNT |
CARRYING AMOUNT |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
€ million |
Current |
Noncurrent |
Dec. 31, 2015 |
Current |
Noncurrent |
Dec. 31, 2014 |
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Negative fair values of derivative financial instruments |
4,799 |
3,905 |
8,703 |
2,991 |
2,390 |
5,381 |
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Interest payable |
668 |
70 |
739 |
709 |
43 |
752 |
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Miscellaneous financial liabilities |
4,883 |
1,926 |
6,809 |
3,943 |
1,521 |
5,464 |
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|
10,350 |
5,901 |
16,251 |
7,643 |
3,954 |
11,597 |
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The negative fair values of derivatives relate to the following items:
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€ million |
Dec. 31, 2015 |
Dec. 31, 2014 |
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Transactions for hedging |
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foreign currency risk from assets using fair value hedges |
71 |
24 |
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foreign currency risk from liabilities using fair value hedges |
106 |
286 |
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interest rate risk using fair value hedges |
71 |
115 |
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interest rate risk using cash flow hedges |
16 |
20 |
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foreign currency and price risk from future cash flows (cash flow hedges) |
6,970 |
4,168 |
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Hedging transactions |
7,234 |
4,614 |
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Liabilities related to derivatives not included in hedging relationships |
1,469 |
767 |
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8,703 |
5,381 |
The negative fair value of transactions for hedging price risk from future cash flows (cash flow hedges) amounted to €166 million (previous year: €69 million).
Negative fair values of €44 million (previous year: €49 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.