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|
Dec 31, 2008 |
|
Dec 31, 2007 |
||
€ million |
Non-current |
Current |
|
Non-current |
Current |
Bonds payable |
10,041 |
165 |
|
9,029 |
1,622 |
|
846 |
|
|
|
|
Bank debt |
481 |
306 |
|
564 |
790 |
Other financial liabilities |
|
|
|
|
|
Collateral for trading activities |
|
541 |
|
|
404 |
Miscellaneous other liabilities |
632 |
471 |
|
453 |
423 |
|
11,154 |
2,329 |
|
10,046 |
3,239 |
Financial liabilities to associates totalled €137 million (previous year: €97 million).
€10,983 million of the non-current financial liabilities were interest-bearing liabilities (previous year: €9,886 million). Bank debt mainly stems from the former activities of acquired companies. Nominal interest depends on the currency, term and conditions of the agreement and ranged between 1.5 and 11.8 % (previous year: 2.0 and 9.0 %).
Changes in the scope of consolidation caused financial liabilities to increase by €234 million.
Other financial liabilities primarily consist of finance lease liabilities. Lease agreements principally relate to capital goods in the electricity business.
Liabilities arising from finance lease agreements have the following maturities:
Liabilities from finance |
Maturities of minimum lease payments |
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Dec 31, 2008 |
|
Dec 31, 2007 |
|||||
Nominal |
Discount |
Present value |
|
Nominal |
Discount |
Present value |
|
Due within 1 year |
8 |
|
8 |
|
17 |
2 |
15 |
Due within 1 to 5 years |
29 |
1 |
28 |
|
57 |
2 |
55 |
Due after 5 years |
46 |
3 |
43 |
|
99 |
50 |
49 |
|
83 |
4 |
79 |
|
173 |
54 |
119 |
Above and beyond this, other financial liabilities include collateral for trading activities.
€82 million (previous year: €84 million) of the financial liabilities are secured by mortgages, and €69 million (previous year: €11 million) by similar rights.
