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Finance debt | 12 Months Ended
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Dec. 31, 2019
Disclosure of detailed information about borrowings [abstract] |
Disclosure of borrowings [text block] | 18 Finance debt
Non-current finance debt
Finance debt measured at amortised cost
| Weighted average interest rates in %1) | Carrying amount in USD millions at 31 December | Fair value in USD millions at 31 December2)
| 2019 | 2018 | 2019 | 2018 | 2019 | 2018
Unsecured bonds |  |  |  |  |  |
United States Dollar (USD) | 4.14 | 4.14 | 13,308 | 13,088 | 14,907 | 13,657
Euro (EUR) | 2.25 | 2.10 | 8,201 | 8,928 | 8,992 | 9,444
Great Britain Pound (GBP) | 6.08 | 6.08 | 1,815 | 1,760 | 2,765 | 2,532
Norwegian Kroner (NOK) | 4.18 | 4.18 | 342 | 345 | 389 | 388
Total |  |  | 23,666 | 24,121 | 27,053 | 26,021
Unsecured loans |  |  |  |  |  |
Japanese Yen (JPY) | 4.30 | 4.30 | 92 | 91 | 123 | 119
Total |  |  | 92 | 91 | 123 | 119
Non-current bonds and bank loans |  |  | 23,758 | 24,212 | 27,175 | 26,140
Less current portion |  |  | 2,004 | 1,322 | 2,036 | 1,321
Total |  |  | 21,754 | 22,889 | 25,139 | 24,819
Lease liabilities3) |  |  | 4,339 | 432 |  |
Less current portion |  |  | 1,148 | 57 |  |
Non-current finance debt |  |  | 24,945 | 23,264 |  |
1)Weighted average interest rates are calculated based on the contractual rates on the loans per currency at 31 December and do not include the effect of swap agreements. 2)Fair values are determined from external calculation models based on market observations from various sources, classified at level 2 in the fair value hierarchy. For more information regarding fair value hierarchy, see note 26 Financial Instruments: fair value measurement and sensitivity of market risk. 3)For more information regarding comparable figures on lease liabilities, see note 23 Implementation of IFRS 16 Leases. Unsecured bonds amounting to USD 13,308 million are denominated in USD and unsecured bonds denominated in other currencies amounting to USD 9,404 million are swapped into USD. One bond denominated in EUR amounting to USD 95 4 million is not swapped. The table does not include the effects of agreements entered into to swap the various currencies into USD. For further information see note 26 Financial instruments: fair value measurement and sensitivity analysis of market risk. Substantially all unsecured bond and unsecured bank loan agreements contain provisions restricting future pledging of asset s to secure borrowings without granting a similar secured status to the existing bondholders and lenders.
In 2019 Equinor issued the following bond:
Issuance date | Amount in USD million | Interest rate in % | Maturity date
13 November 2019 | 1,000 | 3.250 | November 2049
Out of Equinor's total outstand ing unsecured bond portfolio, 37 bond agreements contain provisions allowing Equinor to call the debt prior to its final redemption at par or at certain specified premiums if there are changes to the Norwegian tax laws. The carrying a mount of these agreements is USD 23,024 million at the 31 December 2019 closing exchange rate. For more in formation about the revolving credit facility, maturity profile for undiscounted cash flows and interest rate risk management, see note 5 Financial risk and capital management.
Non-current finance debt maturity profile
| At 31 December
(in USD million) | 2019 | 2018
Year 2 and 3 | 4,156 | 4,003
Year 4 and 5 | 5,680 | 3,736
After 5 years | 15,109 | 15,525
Total repayment of non-current finance debt | 24,945 | 23,264
Weighted average maturity (years - including current portion) | 9 | 9
Weighted average annual interest rate (% - including current portion) | 3.53 | 3.67
For more information regarding l ease li abilities, see note 22 Leases.
Current finance debt
| At 31 December
(in USD million) | 2019 | 2018
Collateral liabilities | 585 | 213
Non-current finance debt due within one year | 3,152 | 1,380
Other including US Commercial paper programme and bank overdraft | 350 | 870
Total current finance debt | 4,087 | 2,463
Weighted average interest rate (%) | 2.39 | 1.62
Collateral liabilities and other current liabilities relate mainly to cash received as security for a porti on of Equinor's credit exposure and outstanding amounts on US Commercial paper (CP) programme. Issuance on the CP programme amounted to USD 340 million as of 31 December 2019 and USD 842 million as of 31 December 2018. Non-current finance debt due within one year includes current portion of leases. For more information regarding leases, see note 22 Leases.
Reconciliation of cash flow from financing activities to finance line items in balance sheet |
(in USD million) | Non-current finance debt | Current finance debt | Financial receivable Collaterals 1) | Additional paid in capital /Treasury shares | Non-controlling interest | Dividend payable | Total
At 31 December 2018 | 23,264 | 2,463 | (591) | (196) | 19 | 766 | 25,725
Transfer to current portion2) | (3,152) | 3,152 | - | - | - | - | -
Effect of exchange rate changes | (108) | - | - | - | - | 7 | (101)
Dividend decleared | - | - | - | - | - | 3,453 | 3,453
Cash flows provided by/(used in) financing activities2) | 984 | (2,585) | (32) | (514) | (7) | (3,342) | (5,496)
Other changes2) | 3,957 | 1,057 | (11) | 2 | 8 | (25) | 4,988
At 31 December 2019 | 24,945 | 4,087 | (634) | (708) | 20 | 859 | 28,569
1) Financial receivables collaterals are in included in trade and other receivables in the balance sheet. See note 15 Trade and other receivables for more information. |
2) Leases are included in columns for non-current finance debt and current finance debt. See note 22 Leases for more information. |
(in USD million) | Non-current finance debt | Current finance debt | Financial receivable Collaterals 1) | Additional paid in capital /Treasury shares | Non-controlling interest | Dividend payable | Total
At 31 December 2017 | 24,183 | 4,091 | (272) | (191) | 24 | 729 | 28,564
Transfer to current portion | (1,380) | 1,380 | - | - | - | - | -
Effect of exchange rate changes | (556) | 2 | - | - | - | (1) | (555)
Dividend decleared | - | - | - | - | - | 3,064 | 3,064
Scrip dividend | - | - | - | - | - | (338) | (338)
Cash flows provided by/(used in) financing activities | 998 | (2,949) | (331) | (64) | (7) | (2,672) | (5,025)
Other changes | 20 | (61) | 11 | 59 | 2 | (16) | 15
At 31 December 2018 | 23,264 | 2,463 | (591) | (196) | 19 | 766 | 25,725
1) Financial receivables collaterals are in included in trade and other receivables in the balance sheet. See note 15 Trade and other receivables for more information. |

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