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: |
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- 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: |
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- 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 | - | |