20. Other financial liabilities
2019 | 2018 | |
---|---|---|
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.