26 Noncurrent and current other financial liabilities

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CARRYING AMOUNT

 

CARRYING AMOUNT

€ million

 

Current

 

Noncurrent

 

Dec. 31, 2013

 

Current

 

Noncurrent

 

Dec. 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

Negative fair values of derivative financial instruments

 

1,070

 

1,169

 

2,239

 

1,230

 

1,587

 

2,818

Interest payable

 

667

 

62

 

730

 

731

 

6

 

737

Miscellaneous financial liabilities

 

2,789

 

1,074

 

3,863

 

2,464

 

803

 

3,267

 

 

4,526

 

2,305

 

6,832

 

4,425

 

2,397

 

6,822

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

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€ million

 

Dec. 31, 2013

 

Dec. 31, 2012

 

 

 

 

 

Transactions for hedging

 

 

 

 

foreign currency risk from assets using fair value hedges

 

34

 

21

foreign currency risk from liabilities using fair value hedges

 

300

 

53

interest rate risk using fair value hedges

 

117

 

238

interest rate risk using cash flow hedges

 

30

 

77

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

 

996

 

1,822

Hedging transactions

 

1,476

 

2,211

Liabilities related to derivatives not included in hedging relationships

 

762

 

607

 

 

2,239

 

2,818

The negative fair value of transactions for hedging price risk from future cash flows (cash flow hedges) amounted to €61 million (previous year: €26 million).

Negative fair values of €41 million (previous year: €158 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 33.