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26 Noncurrent and current other financial liabilities

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€ million

 

Current

 

Non-current

 

Carrying
amount
Dec. 31,
2012

 

Current

 

Non-current

 

Carrying
amount
Dec. 31,
2011

Negative fair values of derivative financial instruments

 

1,230

 

1,587

 

2,818

 

1,727

 

2,247

 

3,974

Interest payable

 

731

 

6

 

737

 

749

 

6

 

756

Miscellaneous financial liabilities

 

2,464

 

803

 

3,267

 

2,412

 

293

 

2,705

 

 

4,425

 

2,397

 

6,822

 

4,888

 

2,547

 

7,435

The noncurrent and current financial liabilities previously reported in the “Other liabilities” item are presented in greater detail in fiscal year 2012. The prior-period figures were reclassified accordingly.

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

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€ million

 

Dec. 31, 2012

 

Dec. 31, 2011

Transactions for hedging

 

 

 

 

foreign currency risk from assets using fair value hedges

 

21

 

14

foreign currency risk from liabilities using fair value hedges

 

53

 

85

interest rate risk using fair value hedges

 

238

 

168

interest rate risk using cash flow hedges

 

77

 

73

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

 

1,822

 

2,607

Hedging transactions

 

2,211

 

2,948

Liabilities related to derivatives not included in hedging relationships

 

607

 

1,026

 

 

2,818

 

3,974

Of the other financial liabilities reported in the consolidated balance sheet, a total of €744 million (previous year: €539 million) is secured, for the most part by real estate liens.

The negative fair value of transactions for hedging price risk from future cash flows (cash flow hedges) amounted to €26 million (previous year: €35 million).

Negative fair values of €158 million (previous year: €89 million) were recognized from transactions for hedging interest rate risk (fair value hedges) used in portfolio hedges.

In the previous year, liabilities from derivatives not included in hedging relationships included the put options written by Volkswagen AG to acquire the outstanding shares of Porsche Holding Stuttgart in the amount of €87 million.

Further details on derivative financial instruments as a whole are given in note 33 Financial risk management and financial instruments.

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