26. Noncurrent and current other financial liabilities
|
|
CARRYING AMOUNT |
|
CARRYING AMOUNT |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
€ million |
|
Current |
|
Noncurrent |
|
Dec. 31, 2023 |
|
Current1 |
|
Noncurrent |
|
Dec. 31, 20221 |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Negative fair values of derivative financial instruments |
|
2,649 |
|
4,680 |
|
7,329 |
|
2,281 |
|
5,565 |
|
7,846 |
||||
Interest payable |
|
1,256 |
|
281 |
|
1,537 |
|
837 |
|
215 |
|
1,052 |
||||
Miscellaneous financial liabilities |
|
10,117 |
|
2,006 |
|
12,123 |
|
16,689 |
|
2,409 |
|
19,097 |
||||
|
|
14,022 |
|
6,968 |
|
20,990 |
|
19,807 |
|
8,188 |
|
27,995 |
||||
|
||||||||||||||||
Under miscellaneous current financial liabilities, an amount of €6,750 million was attributable in the previous year to the obligation to pay a special dividend to the shareholders of Volkswagen AG in connection with the IPO of Porsche AG (see “Key events” section).
The negative fair values of derivatives relate to the following items:
€ million |
|
Dec. 31, 2023 |
|
Dec. 31, 2022 |
|---|---|---|---|---|
|
|
|
|
|
Transactions for hedging |
|
|
|
|
foreign currency risk from assets using fair value hedges |
|
30 |
|
12 |
foreign currency risk from liabilities using fair value hedges |
|
81 |
|
14 |
interest rate risk using fair value hedges |
|
1,793 |
|
2,596 |
interest rate risk using cash flow hedges |
|
64 |
|
54 |
foreign currency and price risk from future cash flows (cash flow hedges) |
|
2,443 |
|
2,801 |
Hedging transactions Total |
|
4,412 |
|
5,477 |
Liabilities related to derivatives not included in hedging relationships |
|
2,918 |
|
2,369 |
Total |
|
7,329 |
|
7,846 |
Negative fair values of €110 million (previous year: €0 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”.