17 Noncurrent and current other financial assets

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CARRYING AMOUNT

 

CARRYING AMOUNT

€ million

 

Current

 

Non­current

 

Dec. 31, 2016

 

Current

 

Non­current

 

Dec. 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

Positive fair value of derivatives

 

2,317

 

3,274

 

5,591

 

2,081

 

2,246

 

4,326

Marketable securities

 

 

46

 

46

 

 

1,387

 

1,387

Receivables from loans, bonds, profit participation rights (excluding interest)

 

5,352

 

2,338

 

7,690

 

4,286

 

2,169

 

6,455

Miscellaneous financial assets

 

4,175

 

2,598

 

6,773

 

3,677

 

928

 

4,604

 

 

11,844

 

8,256

 

20,099

 

10,043

 

6,730

 

16,773

Other financial assets include receivables from related parties of €6,928 million (previous year: €6,010 million). Other financial assets and noncurrent marketable securities amounting to €1,870 million (previous year: €1,897 million) were furnished as collateral for financial liabilities and contingent liabilities. There is no original right of disposal or pledge for the furnished collateral on the part of the collateral taker.

In addition, the miscellaneous financial assets include cash and cash equivalents that serve as collateral (mainly under asset-backed securities transactions).

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

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€ million

 

Dec. 31, 2016

 

Dec. 31, 2015

 

 

 

 

 

Transactions for hedging

 

 

 

 

foreign currency risk from assets using fair value hedges

 

239

 

310

foreign currency risk from liabilities using fair value hedges

 

186

 

190

interest rate risk using fair value hedges

 

592

 

681

interest rate risk using cash flow hedges

 

65

 

19

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

 

3,032

 

1,735

Hedging transactions

 

4,114

 

2,936

Assets related to derivatives not included in hedging relationships

 

1,477

 

1,391

 

 

5,591

 

4,326

The positive fair value of transactions for hedging price risk from future cash flows (cash flow hedges) amounted to €36 million (previous year: €0 million).

Positive fair values of €1 million (previous year: €1 million) were recognized from transactions for hedging interest rate risk (fair value hedges) used in portfolio hedges.

Further details on derivative financial instruments as a whole are given in section entitled “Financial risk management and financial instruments”.