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 | ||||
|
Lease liabilities are presented in Financial Statements in note 4.6. |
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| 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 | ||||||
