[35] Other financial liabilities
Other financial liabilities comprise the following items: > TABLE 094
in € million |
2019 |
2018 |
|---|---|---|
Liabilities from short-term rental fleet financing |
101.7 |
185.0 |
Liabilities from procurement leases |
380.6 |
327.1 |
Derivative financial instruments |
11.4 |
7.9 |
Sundry financial liabilities |
7.1 |
4.7 |
Other non-current financial liabilities |
500.9 |
524.6 |
|
|
|
Liabilities from short-term rental fleet financing |
76.9 |
104.9 |
Liabilities from procurement leases |
105.5 |
94.2 |
Derivative financial instruments |
12.8 |
6.4 |
Liabilities from accrued interest |
4.4 |
15.2 |
Sundry financial liabilities |
84.4 |
67.9 |
Other current financial liabilities |
284.0 |
288.6 |
|
|
|
Total other financial liabilities |
784.9 |
813.2 |
Liabilities from short-term rental fleet financing relate to the financing of the short-term rental fleet by means of sale-and-leaseback sub-lease transactions entered into up to 31 December 2017 in the amount of €178.6 million (2018: €289.9 million). The amounts recognised as liabilities from short-term rental fleet financing and from procurement leases are based on the maturities shown in > TABLE 095. The increase in liabilities from procurement leases was primarily due to the start of two property leases.
|
Procurement leases |
|
Financing short-term rental fleet |
||
|---|---|---|---|---|---|
in € million |
2019 |
2018 |
|
2019 |
2018 |
Total future payments (gross) |
551.5 |
464.1 |
|
185.7 |
315.0 |
due within one year |
117.6 |
105.8 |
|
80.9 |
122.8 |
due in one to two years |
92.9 |
79.7 |
|
53.0 |
86.6 |
due in two to three years |
75.3 |
57.5 |
|
35.9 |
53.8 |
due in three to four years |
54.8 |
45.7 |
|
12.1 |
34.4 |
due in four to five years |
39.8 |
34.0 |
|
2.9 |
12.2 |
due in more than five years |
171.1 |
141.3 |
|
0.8 |
5.2 |
Derivative financial instruments comprise currency forwards and interest-rate swaps with a negative fair value that are used to reduce currency risk and interest-rate risk. Some of these derivative financial instruments are part of a formally documented hedge with a hedged item and are recognised in accordance with the hedge accounting rules (see note [41]).