26 Noncurrent and current other financial liabilities

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CARRYING AMOUNT

 

CARRYING AMOUNT

€ million

 

Current

 

Noncurrent

 

Dec. 31, 2019

 

Current

 

Noncurrent

 

Dec. 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

Negative fair values of derivative financial instruments

 

2,245

 

1,950

 

4,195

 

1,439

 

1,134

 

2,573

Interest payable

 

691

 

116

 

807

 

661

 

113

 

774

Miscellaneous financial liabilities

 

7,922

 

2,434

 

10,356

 

7,316

 

1,972

 

9,288

 

 

10,858

 

4,499

 

15,358

 

9,416

 

3,219

 

12,635

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

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€ million

 

Dec. 31, 2019

 

Dec. 31, 2018

 

 

 

 

 

Transactions for hedging

 

 

 

 

foreign currency risk from assets using fair value hedges

 

107

 

65

foreign currency risk from liabilities using fair value hedges

 

5

 

10

interest rate risk using fair value hedges

 

97

 

61

interest rate risk using cash flow hedges

 

53

 

17

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

 

2,172

 

936

Hedging transactions Total

 

2,435

 

1,088

Liabilities related to derivatives not included in hedging relationships

 

1,760

 

1,484

Total

 

4,195

 

2,573

Negative fair values of €63 million (previous year: €22 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".