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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2018
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Summary of Financial Assets and Liabilities by Categories | 22.1 Financial assets and liabilities by categories
|  |  |  |  | At December 31, 2018 |  |  | At December 31, 2017 |
(in millions of Euros) |  | Notes |  |  | At amortized cost |  |  | At Fair Value through Profit and loss |  |  | At Fair Value through OCI |  |  | Total |  |  | Loan and receivables |  |  | At Fair Value through Profit and loss |  |  | At Fair Value through OCI |  |  | Total |
Cash and cash equivalents |  |  | 13 |  |  |  | 164 |  |  |  | — |  |  |  | — |  |  |  | 164 |  |  |  | 269 |  |  |  | — |  |  |  | — |  |  |  | 269 |
Trade receivables |  |  | 14 |  |  |  | — |  |  |  | — |  |  |  | 481 |  |  |  | 481 |  |  |  | 306 |  |  |  | — |  |  |  | — |  |  |  | 306 |
Finance lease receivables |  |  | 14 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12 |  |  |  | — |  |  |  | — |  |  |  | 12 |
Other financial assets |  |  |  |  |  |  | 74 |  |  |  | 30 |  |  |  |  |  |  |  | 104 |  |  |  | 83 |  |  |  | 77 |  |  |  | 19 |  |  |  | 179 |
Total financial assets |  |  |  |  |  |  | 238 |  |  |  | 30 |  |  |  | 481 |  |  |  | 749 |  |  |  | 670 |  |  |  | 77 |  |  |  | 19 |  |  |  | 766 |
|  |  |  |  | At December 31, 2018 |  |  | At December 31, 2017 |
(in millions of Euros) |  | Notes |  |  | At amortized cost |  |  | At Fair Value through Profit and loss |  |  | At Fair Value through OCI |  |  | Total |  |  | At amortized cost |  |  | At Fair Value through Profit and loss |  |  | At Fair Value through OCI |  |  | Total |
Trade payables and fixed assets payables |  |  | 20 |  |  |  | 715 |  |  |  | — |  |  |  | — |  |  |  | 715 |  |  |  | 744 |  |  |  | — |  |  |  | — |  |  |  | 744 |
Borrowings |  |  | 21 |  |  |  | 2,151 |  |  |  | — |  |  |  | — |  |  |  | 2,151 |  |  |  | 2,127 |  |  |  | — |  |  |  | — |  |  |  | 2,127 |
Other financial liabilities |  |  |  |  |  |  | — |  |  |  | 79 |  |  |  | 10 |  |  |  | 89 |  |  |  | — |  |  |  | 66 |  |  |  | — |  |  |  | 66 |
Total financial liabilities |  |  |  |  |  |  | 2,866 |  |  |  | 79 |  |  |  | 10 |  |  |  | 2,955 |  |  |  | 2,871 |  |  |  | 66 |  |  |  | — |  |  |  | 2,937 |
Summary of Other Financial Assets and Other Financial Liabilities Positions | The table below details other financial assets and other financial liabilities positions:
|  | At December 31, 2018 |  |  | At December 31, 2017 |
(in millions of Euros) |  | Non-current |  |  | Current |  |  | Total |  |  | Non-current |  |  | Current |  |  | Total |
Derivatives |  |  | 7 |  |  |  | 23 |  |  |  | 30 |  |  |  | 29 |  |  |  | 67 |  |  |  | 96 |
Aluminium and premium future contracts |  |  | 2 |  |  |  | 7 |  |  |  | 9 |  |  |  | 6 |  |  |  | 39 |  |  |  | 45 |
Energy future contracts |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other future contracts |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 1 |
Currency commercial contracts |  |  | 3 |  |  |  | 12 |  |  |  | 15 |  |  |  | 21 |  |  |  | 20 |  |  |  | 41 |
Currency net debt derivatives |  |  | 2 |  |  |  | 4 |  |  |  | 6 |  |  |  | 2 |  |  |  | 7 |  |  |  | 9 |
Loans (A) |  |  | 67 |  |  |  | 2 |  |  |  | 69 |  |  |  | 81 |  |  |  | 2 |  |  |  | 83 |
Margin call |  |  | — |  |  |  | 5 |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |
Other financial assets |  |  | 74 |  |  |  | 30 |  |  |  | 104 |  |  |  | 110 |  |  |  | 69 |  |  |  | 179 |
Derivatives |  |  | 29 |  |  |  | 60 |  |  |  | 89 |  |  |  | 43 |  |  |  | 23 |  |  |  | 66 |
Aluminium and premium future contracts |  |  | 6 |  |  |  | 38 |  |  |  | 44 |  |  |  | — |  |  |  | 6 |  |  |  | 6 |
Energy future contracts |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other future contracts |  |  | 5 |  |  |  | 3 |  |  |  | 8 |  |  |  | — |  |  |  | 1 |  |  |  | 1 |
Currency commercial contracts |  |  | 7 |  |  |  | 12 |  |  |  | 19 |  |  |  | 6 |  |  |  | 12 |  |  |  | 18 |
Net investment hedge |  |  | — |  |  |  | 4 |  |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | — |
Currency net debt derivatives |  |  | 11 |  |  |  | 3 |  |  |  | 14 |  |  |  | 37 |  |  |  | 4 |  |  |  | 41 |
Other financial liabilities |  |  | 29 |  |  |  | 60 |  |  |  | 89 |  |  |  | 43 |  |  |  | 23 |  |  |  | 66 |
(A) | Corresponds to a loan facility to Constellium-UACJ ABS LLC (See NOTE 18 – Investments accounted for under the equity method).
Summary of Derivatives Measured at Fair Value | The following table provides an analysis of derivatives measured at fair value, grouped into levels based on the degree to which the fair value is observable:
| • |  | Level 1 valuation is based on quoted price (unadjusted) in active markets for identical financial instruments, it includes aluminium, copper and zinc futures that are traded on the LME.
| • |  | Level 2 valuation is based on inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities, either directly (i.e. prices) or indirectly (i.e. derived from prices), it includes foreign exchange derivatives.
| • |  | Level 3 valuation is based on inputs for the asset or liability that are not based on observable market data (unobservable inputs). Trade receivables are classified as a Level 3 measurement under the fair value hierarchy.
|  | At December 31, 2018 |  |  | At December 31, 2017 |
(in millions of Euros) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Other financial assets—derivatives |  |  | 9 |  |  |  | 21 |  |  |  | — |  |  |  | 30 |  |  |  | 46 |  |  |  | 50 |  |  |  | — |  |  |  | 96 |
Other financial liabilities—derivatives |  |  | 50 |  |  |  | 39 |  |  |  | — |  |  |  | 89 |  |  |  | 6 |  |  |  | 60 |  |  |  | — |  |  |  | 66 |

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