The following table shows the carrying amount for each category of financial liability provided for under IFRS 9, broken down into current and non-current financial liabilities, showing hedging derivatives and derivatives measured at fair value through profit or loss separately.
Millions of euro | Notes | Non-current | Current | ||
at Dec. 31, 2019 | at Dec. 31, 2018 | at Dec. 31, 2019 | at Dec. 31, 2018 | ||
Financial liabilities measured at amortized cost | 43.2.1 | 54,931 | 49,824 | 28.261 | 27,567 |
Financial liabilities at fair value through profit or loss | |||||
Derivative financial liabilities at FVTPL | 43.4 | 20 | 34 | 2,981 | 3,135 |
Total financial liabilities at fair value through profit or loss | 20 | 34 | 2,981 | 3,135 | |
Derivative financial liabilities designated as hedging instruments | |||||
Fair value hedge derivatives | 43.4 | 1 | - | - | - |
Cash flow hedge derivatives | 43.4 | 2,386 | 2,575 | 573 | 1,208 |
Total derivative financial liabilities designated as hedging instruments | 2,387 | 2,575 | 573 | 1,208 | |
TOTAL | 57,338 | 52.433 | 31,815 | 31,910 | |
For more information on fair value measurement, please see note 48 “Liabilities measured at fair value”.
43.2.1 Financial liabilities measured at amortized cost
The following table shows financial liabilities at amortized cost by nature, broken down into current and non-current financial liabilities.
Millions of euro | Non-current | Current | ||||
Notes | at Dec. 31, 2019 | at Dec. 31, 2018 | Notes | at Dec. 31, 2019 | at Dec. 31, 2018 | |
Long-term borrowings | 43.3 | 54,174 | 48,983 | 43.3 | 3,409 | 3,367 |
Short-term borrowings | - | - | 43.3 | 3,917 | 3,616 | |
Trade payables | 39 | 638 | 669 | 39 | 12,322 | 12,718 |
Other financial liabilities | 38 | 119 | 172 | 42 | 8,613 | 7,866 |
Total | 54,931 | 49,824 | 28,261 | 27,567 | ||