Net Financial Debt * | Dec. 31, 2016 (€ million) |
Dec. 31, 2017 (€ million) | Dec. 31, 2018 (€ million) | Dec. 31, 2019 (€ million) |
Bonds | 1,494 | 1,495 | 996 | 997 |
Liabilities to banks | 133 | 69 | 24 | 10 |
Liabilities under finance leases | 265 | 223 | 193 | 735 |
Liabilities from derivatives | 33 | 9 | 12 | 10 |
Other financial liabilities | 6 | - | - | - |
Positive fair values of hedges of recorded transactions | -15 | -15 | -12 | -15 |
Financial liabilities | 1,916 | 1,781 | 1,213 | 1,737 |
Cash and cash equivalents | -267 | -1,232 | -865 | -748 |
Current financial assets | -150 | -266 | - | - |
Net financial debt | 1,499 | 283 | 348 | 989 |
* Net financial debt is not defined in the International Financial Reporting Standards and is calculated as shown