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Finance debt | 12 Months Ended
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Dec. 31, 2020
Finance debt [abstract] |
Disclosure of finance debt [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)
| 2020 | 2019 | 2020 | 2019 | 2020 | 2019
Unsecured bonds |  |  |  |  |  |
United States Dollar (USD) | 3.82 | 4.14 | 18,710 | 13,308 | 21,883 | 14,907
Euro (EUR) | 2.03 | 2.25 | 10,057 | 8,201 | 11,115 | 8,992
Great Britain Pound (GBP) | 6.08 | 6.08 | 1,877 | 1,815 | 2,949 | 2,765
Norwegian Kroner (NOK) | 4.18 | 4.18 | 352 | 342 | 412 | 389
Total unsecured bonds |  |  | 30,994 | 23,666 | 36,359 | 27,053
Unsecured loans |  |  |  |  |  |
Japanese Yen (JPY) | 4.30 | 4.30 | 97 | 92 | 119 | 123
Total unsecured loans |  |  | 97 | 92 | 119 | 123
Total finance debt |  |  | 31,091 | 23,758 | 36,479 | 27,175
Less current portion |  |  | 1,974 | 2,004 | 2,062 | 2,036
Non-current finance debt |  |  | 29,118 | 21,754 | 34,417 | 25,139
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 2 5 Financial Instruments: fair value measurement and sensitivity of market risk. Unsecured bonds amounting to USD 1 8,710 million are denominated in USD and unsecured bonds denominated in other currencies amounting to USD 1 1,368, million are swapped into USD. One bond denominated in EUR amoun ting to USD 916 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 2 5 Financial instruments: fair value measurement and sensitivity analysis of market risk. Substantially all unsecured bond s and unsecured bank loan agreements contain provisions restricting future pledging of assets to secure borrowings without granting a similar secured status to the existing bondholders and lenders.
In 2019 and 2020 Equinor issued the following bonds
Issuance date | Currency | Amount in million | Interest rate in % | Maturity date
18 May 2020 | USD | 750 | 1.750 | January 2026
18 May 2020 | EUR | 750 | 0.750 | May 2026
18 May 2020 | USD | 750 | 2.375 | May 2030
18 May 2020 | EUR | 1,000 | 1.375 | May 2032
1 April 2020 | USD | 1,250 | 2.875 | April 2025
1 April 2020 | USD | 500 | 3.000 | April 2027
1 April 2020 | USD | 1,500 | 3.125 | April 2030
1 April 2020 | USD | 500 | 3.625 | April 2040
1 April 2020 | USD | 1,250 | 3.700 | April 2050
13 November 2019 | USD | 1,000 | 3.250 | November 2049
Out of Equinor's total outstand ing unsecured bond portfolio, 43 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 30,644 million at the 31 December 2020 closing currency 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) | 2020 | 2019
Year 2 and 3 | 3,705 | 2,846
Year 4 and 5 | 4,927 | 5,004
After 5 years | 20,485 | 13,904
Total repayment of non-current finance debt | 29,118 | 21,754
Weighted average maturity (years - including current portion) | 10 | 9
Weighted average annual interest rate (% - including current portion) | 3.38 | 3.64
2019 re classified because the line item Lease liabilities is separated from Finance debt in the Consolidated balance sheet.
Current finance debt
| At 31 December
(in USD million) | 2020 | 2019
Collateral liabilities | 1,704 | 585
Non-current finance debt due within one year1) | 1,974 | 2,004
Other including US Commercial paper program and bank overdraft | 913 | 350
Total current finance debt1) | 4,591 | 2,939
Weighted average interest rate (%)1) | 2.40 | 2.18
1) 2019 reclassified because the line item Lease liabilities is separated from Finance debt in the Consolidated balance sheet. Collateral liabilities and other current liabilities relate mainly to cash received as security for a portion of Equinor's credit exposure and outstanding amounts on US Commercial paper (CP) programme. Issuance on the CP programme amounted to USD 903 milli on as of 31 December 2020 and USD 340 million as of 31 December 2019.
Reconciliation of cash flows 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 excluding Lease liabilities | Lease liabilities | Total
At 1 January 2020 | 21,754 | 2,939 | (634) | (708) | 20 | 859 | 24,230 | 4,339 | 28,569
Transfer to current portion | (1,974) | 1,974 |  |  |  |  | 0 |  | 0
Effect of exchange rate changes | 1,049 | 0 | 0 | 0 | 0 | 15 | 1,064 |  | 1,064
Dividend declared |  |  |  |  |  | 1,833 | 1,833 |  | 1,833
Cash flows provided by/(used in) financing activities | 8,347 | (346) | (329) | (1,059) | (16) | (2,330) | 4,268 | (1,277) | 2,991
Other changes | (58) | 24 | (4) | 179 | 15 | (20) | 136 | 1,344 | 1,480
At 31 December 2020 | 29,118 | 4,591 | (967) | (1,588) | 19 | 357 | 31,531 | 4,406 | 35,937
(in USD million) | Non-current finance debt 2) | Current finance debt 2) | Financial receivable Collaterals 1) | Additional paid in capital /Treasury shares | Non-controlling interest | Dividend payable | Total excluding Lease liabilities | Lease liabilities | Total
At 1 January 2019 | 22,889 | 2,406 | (591) | (196) | 19 | 766 | 25,293 | 432 | 25,725
Transfer to current portion | (1,322) | 1,322 |  |  |  |  | 0 |  | 0
Effect of exchange rate changes | (108) | 0 | 0 | 0 | 0 | 7 | (101) |  | (101)
Dividend declared |  |  |  |  |  | 3,453 | 3,453 |  | 3,453
Cash flows provided by/(used in) financing activities | 984 | (1,487) | (32) | (514) | (7) | (3,342) | (4,398) | (1,098) | (5,496)
Other changes | (689) | 698 | (11) | 2 | 8 | (25) | (17) | 5,005 | 4,988
At 31 December 2019 | 21,754 | 2,939 | (634) | (708) | 20 | 859 | 24,230 | 4,339 | 28,569
1) Financial receivable collaterals are included in Trade and other receivables in the Consolidated balance sheet. See note 15 Trade and other receivables for more information.
2) Non-current finance debt and Current finance debt reclassified as Lease liabilities is separated from Finance debt in the Consolidated balance sheet.

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