Maturity structure of long-term interest bearing liabilities
The Group had liquid assets of €306.0 million (€169.0 million) on 31 December 2020. Interest-bearing liabilities on 31 December 2020 totalled €2,616.3 million (€3,037.3 million) of which lease liabilities accounted for €2,025.0 million (€2,422.2 million). Interest-bearing net debt totalled €2,310.3 million (€2,868.4 million), and interest-bearing net debt excluding lease liabilities totalled €285.3 million (€446.1 million).
| 31 Dec. 2019 | 31 Dec. 2020 | |||||||
| € 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 | 1.8 | 300.2 | 0.1 | 302.1 |
| finance costs | 3.3 | 6.3 | 0.0 | 9.6 | 2.1 | 4.2 | 0.0 | 6.3 |
| Pension loans | 22.7 | 98.7 | 38.8 | 160.1 | 28.4 | 88.7 | 20.4 | 137.5 |
| finance costs | 2.0 | 4.8 | 0.9 | 7.8 | 1.8 | 3.6 | 0.5 | 5.8 |
| Lease liabilities | 383.3 | 1,097.3 | 941.6 | 2,422.2 | 312.7 | 1,005.1 | 707.2 | 2,025.0 |
| finance costs | 84.7 | 215.9 | 100.8 | 401.3 | 68.0 | 168.4 | 68.7 | 305.1 |
| Payables to K-retailers | 98.0 | 98.0 | 123.0 | 123.0 | ||||
| finance costs | ||||||||
| Other interest-bearing liabilities | 12.8 | 9.0 | 0.0 | 21.8 | 29.4 | 0.0 | 0.0 | 29.4 |
| finance costs | 0.4 | 0.7 | 1.1 | 0.0 | 0.0 | |||
| Non-current non-interest-bearing liabilities | 1.0 | 3.6 | 25.2 | 29.8 | 0.8 | 5.4 | 23.3 | 29.5 |
| Current non-interest-bearing liabilities | ||||||||
| Trade payables | 1,029.9 | 1,029.9 | 1,091.3 | 1,091.3 | ||||
| Accrued expenses | 387.6 | 387.6 | 405.1 | 405.1 | ||||
| Other non-interest-bearing liabilities | 173.3 | 173.3 | 185.3 | 185.3 | ||||
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Financial liabilities in the balance sheet include €14.9 million (€6.8 million) in items related to derivatives, of which €8.7 million will mature within the next 12 months. Lease liabilities are presented in Financial Statements in note 4.6.
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| 31 Dec. 2019 | 31 Dec. 2020 | |||||||
| € 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 | 207.8 | 207.8 | ||||
| Interest rate derivatives | 1.2 | 3.7 | 0.9 | 5.7 | 1.7 | 4.3 | 0.6 | 6.6 |
| Electricity derivatives | 0.0 | 0.1 | 0.0 | 0.1 | 1.0 | 2.0 | 3.0 | |
| Receivables | ||||||||
| Foreign currency derivatives | 151.1 | 151.1 | 202.2 | 202.2 | ||||
| Interest rate derivatives | 0.1 | 0.3 | 0.4 | 0.1 | 0.2 | 0.3 | ||
| Electricity derivatives | 0.6 | 0.2 | 0.9 | 0.1 | 1.4 | 1.5 | ||
