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20. Other financial liabilities

2019
$m

2018
$m

Current

Derivative financial instruments - at fair value

Cross currency swap contracts - cash flow and fair value hedges

-

4

Interest rate swap contracts - cash flow hedges

20

15

Energy derivatives - cash flow hedges

-

24

Energy derivatives - economic hedges

576

316

596

359

Deferred consideration

36

35

Total current other financial liabilities

632

394

Non-current

Derivative financial instruments - at fair value

Cross currency swap contracts - cash flow and fair value hedges

-

55

Interest rate swap contracts - cash flow hedges

37

28

Energy derivatives - cash flow hedges

5

71

Energy derivatives - economic hedges

77

102

119

256

Deferred consideration

163

176

Total non-current other financial liabilities

282

432

ACCOUNTING POLICY

Financial Instruments

Refer to Note 36 .

Deferred consideration

To the extent that deferred consideration is payable after one year from the acquisition date, the deferred consideration is discounted at an appropriate interest rate and, accordingly, carried at net present value in the Consolidated Statement of Financial Position. The discount component is then unwound as an interest charge in profit or loss over the life of the obligation.

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