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Financial assets available for sale (Tables)
 12 Months Ended
Dec. 31, 2017
Financial Assets Available For Sale  
Disclosure of available-for-sale financial assets [text block]
(€ million)   December 31, 2017   December 31, 2016
Securities held for non-operating purposes                
Quoted bonds issued by sovereign states     190       210  
Quoted securities issued by financial institutions     17       28  
      207       238  

The breakdown by currency is provided below:

(€ million)   December 31, 2017   December 31, 2016
Euro     176       199  
U.S. Dollar     31       39  
      207       238  
Analysis of credit exposures using external credit grading system [text block]

At December 31, 2017, bonds issued by sovereign states amounted to €190 million (€210 million at December 31, 2016). The breakdown is presented below:

   

Nominal

value

(€ million)

  

Fair

Value

(€ million)

  

Nominal rate

of return (%)

  Maturity date  

Rating –

Moody’s

 

Rating –

S&P

Fixed rate bonds                                
Belgium     27       30     from 3.75 to 4.25   from 2019 to 2021   Aa3   AA
Spain     25       27     from 1.40 to 5.50   from 2018 to 2021   Baa2   BBB+
France     17       19     from 1.00 to 3.25   from 2018 to 2023   Aa2   AA
Poland     15       18     from 4.50 to 6.38   from 2019 to 2022   A2   BBB+
Ireland     17       18     from 0.80 to 4.50   from 2019 to 2022   A2   A+
Iceland     14       15     from 2.50 to 5.88   from 2020 to 2022   A3   A
Italy     14       15     from 0,65 to 3,50   from 2018 to 2020   Baa2   BBB
Portugal     7       8     4.75   2019   Ba1   BBB-
Czech Republic     7       8     3.63   2021   A1   AA-
Slovenia     8       8     2.25   2022   Baa1   A+
Slovakia     7       7     1.50   2018   A2   A+
United States of America     6       6     from 1.25 to 3.13   from 2019 to 2020   Aaa   AA+
Canada     5       5     1.63   2019   Aaa   AAA
Finland     5       5     1.75   2019   Aa1   AA+
Netherlands     1       1     4.00   2018   Aaa   AAA
Total     175       190                  
Disclosure Of Detailed Information about effect of fair value measurement of securities [text block]

The effects of fair value measurement of securities are set out below:

(€ million)   Fair value  

Deferred tax

liabilities

 

Other

reserves of

shareholders'

equity

Carrying amount at December 31, 2016     5       (1 )     4  
Changes recognized in equity     (5 )     1       (4 )
Carrying amount at December 31, 2017