48. Liabilities measured at fair value

   

The following table reports for each class of liabilities measured at fair value on a recurring or non-recurring basis in the financial statements the fair value measurement at the end of the reporting period and the level in the fair value hierarchy into which the fair value measurements are categorized.

   

Millions of euro

  

Non-current liabilities

 

Current liabilities

 

Notes

Fair value

Level 1

Level 2

Level 3

Fair value

Level 1

Level 2

Level 3

Fair value hedge derivatives:

         

- on interest rates

46

-

-

-

-

-

-

-

-

- on exchange rates

46

1

1

-

-

-

-

- on commodities

46

-

-

-

-

-

-

-

-

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

- on interest rates

46

779

-

779

-

1

1

- on exchange rates

46

1,560

-

1,560

-

115

115

- on commodities

46

47

7

40

-

457

229

228

-

Trading derivatives:

 

 

 

 

 

 

 

 

 

- on interest rates

46

6

-

6

79

-

79

-

- on exchange rates

46

-

-

-

-

38

-

38

-

- on commodities

46

14

3

11

 

2,864

1,047

1,817

Contingent consideration

38, 42

53

-

5

48

116

-

103

13

   

Contingent consideration regards a number of equity investments held by the Group in North America, whose fair value was determined on the basis of the contractual terms and conditions.

       

48.1 Fair value of other liabilities

For each class of liabilities not measured at fair value in the balance sheet but whose fair value must be reported, the following table reports the fair value at the end of the period and the level in the fair value hierarchy into which the fair value measurements of those liabilities are classified.

   

Millions of euro

  
 

Notes

Fair value

Level 1

Level 2

Level 3

Bonds:

     

- fixed rate

43.3.1

46,867

43,126

3,741

-

- floating rate

43.3.1

4,408

165

4,243

-

Bank borrowings:

     

- fixed rate

43.3.1

947

-

947

-

- floating rate

43.3.1

8,712

-

8,712

-

Non-bank borrowings:

     

- fixed rate

43.3.1

2,667

-

2,667

-

- floating rate

43.3.1

183

-

183

-

Total

 

63,784

43,291

20,493

-