Maturity structure of long-term interest bearing liabilities

On 31 December 2019, the Group had liquid assets of €169.0 million (€249.6 million). Interest-bearing liabilities on 31 December 2019 totalled €3,037.3 million (€2,700.3 million), and interest-bearing net debt €2,868.4 million (€2,450.7 million), of which lease liabilities accounted for €2,422.2 million (€2,289.0 million). Interest-bearing net debt excluding lease liabilities totalled €446.1 million (€161.6 million).

  31 Dec. 2019 31 Dec. 2018
€ million < 1 year 1-5 years > 5 years Total < 1 year 1-5 years > 5 years Total
Maturities of financial liabilities and related finance costs                
Borrowings from financial institutions 8.3 327.4 0.2 335.8 5.7 7.7 0.2 13.7
finance costs 3.3 6.3 0.0 9.6 0.4 0.6 0.0 1.0
Private Placement notes (USD)         20.1     20.1
finance costs         0.6     0.6
Pension loans 22.7 98.7 38.8 160.1 23.9 103.0 57.2 184.0
finance costs 2.0 4.8 0.9 7.8 2.3 6.2 1.7 10.1
Lease liabilities 383.3 1,097.3 941.6 2,422.2 309.5 1,055.7 923.8 2,289.0
finance costs 84.7 215.9 100.8 401.3 84.3 240.6 111.9 436.7
Payables to K-retailers 98.0     98.0 119.3     119.3
finance costs                
Other interest-bearing liabilities 12.8 9.0 0.0 21.8 63.8 3.4 6.5 73.8
finance costs 0.4 0.7   1.1 0.5 1.1 0.1 1.7
Non-current non-interest-bearing liabilities 1.0 3.6 25.2 29.8 0.9 2.7 25.8 29.4
                 
Current non-interest-bearing liabilities                
Trade payables 1,029.9     1,029.9 982.7     982.7
Accrued expenses 387.6     387.6 355.0     355.0
Other non-interest-bearing liabilities 173.3     173.3 171.7     171.7

 
Financial liabilities in the balance sheet include €6.8 million (€2.7 m) in items related to derivatives.

Lease liabilities are presented in Financial Statements in note 4.6.
 

  31 Dec. 2019 31 Dec. 2018
€ million < 1 year 1-5 years > 5 years Total < 1 year 1-5 years > 5 years Total
Cash flows of derivatives                
Payables                
Foreign currency derivatives 153.8     153.8 128.9     128.9
Interest rate derivatives 1.2 3.7 0.9 5.7 0.8 3.1 1.3 5.3 
Electricity derivatives 0.0 0.1 0.0 0.1 0.0 0.0   0.0
                 
Receivables                
Foreign currency derivatives 151.1     151.1 130.5     130.5
Interest rate derivatives 0.1 0.3   0.4        
Electricity derivatives 0.6 0.2   0.9 1.2 1.1 0.0 2.3
Derivatives relating to Private Placement notes                
Foreign currency derivatives         0.9     0.9
Interest rate derivatives         0.1     0.1

 
Additional information in the Financial Review for 2019

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