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Derivative financial instruments and hedge accounting (Tables) | 12 Months Ended
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Dec. 31, 2020
Derivative financial instruments and hedge accounting |
Schedule of derivative financial instruments |
|  | December 31, 2020 |  | December 31, 2019
|  | Fair value |  | Fair value |  | Level of Fair |  | Fair value |  | Fair value |  | Level of Fair
(€ million) |  | asset |  | liability |  | value |  | asset |  | liability |  | value
Non-hedging derivatives |  |  |  |  |  |  |  |  |  |  |  |
Derivatives on exchange rate |  |  |  |  |  |  |  |  |  |  |  |
- Currency swap |  | 125 |  | 127 |  | 2 |  | 97 |  | 43 |  | 2
- Interest currency swap |  | 128 |  | 2 |  | 2 |  | 26 |  |  |  | 2
- Outright |  | 4 |  | 7 |  | 2 |  | 8 |  | 5 |  | 2
|  | 257 |  | 136 |  |  |  | 131 |  | 48 |  |
Derivatives on interest rate |  |  |  |  |  |  |  |  |  |  |  |
- Interest rate swap |  | 23 |  | 74 |  | 2 |  | 13 |  | 34 |  | 2
|  | 23 |  | 74 |  |  |  | 13 |  | 34 |  |
Derivatives on commodities |  |  |  |  |  |  |  |  |  |  |  |
- Future |  | 418 |  | 447 |  | 1 |  | 192 |  | 181 |  | 1
- Over the counter |  | 89 |  | 77 |  | 2 |  | 89 |  | 58 |  | 2
- Other |  | 5 |  |  |  | 2 |  | 12 |  |  |  | 2
|  | 512 |  | 524 |  |  |  | 293 |  | 239 |  |
|  | 792 |  | 734 |  |  |  | 437 |  | 321 |  |
Trading derivatives |  |  |  |  |  |  |  |  |  |  |  |
Derivatives on commodities |  |  |  |  |  |  |  |  |  |  |  |
- Over the counter |  | 1,167 |  | 1,451 |  | 2 |  | 2,387 |  | 1,953 |  | 2
- Future |  | 440 |  | 525 |  | 1 |  | 348 |  | 313 |  | 1
- Options |  | 4 |  | 3 |  | 2 |  | 21 |  | 22 |  | 2
|  | 1,611 |  | 1,979 |  |  |  | 2,756 |  | 2,288 |  |
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  |  |
Derivatives on commodities |  |  |  |  |  |  |  |  |  |  |  |
- Over the counter |  | 209 |  | 30 |  | 2 |  | 1 |  | 596 |  | 2
- Future |  | 119 |  | 8 |  | 1 |  | 34 |  | 148 |  | 1
- Options |  |  |  | 51 |  | 2 |  |  |  | 2 |  | 2
|  | 328 |  | 89 |  |  |  | 35 |  | 746 |  |
Option embedded in convertible bonds |  | 2 |  | 2 |  | 2 |  | 11 |  | 11 |  | 2
Gross amount |  | 2,733 |  | 2,804 |  |  |  | 3,239 |  | 3,366 |  |
Offsetting |  | (1,033) |  | (1,033) |  |  |  | (612) |  | (612) |  |
Net amount |  | 1,700 |  | 1,771 |  |  |  | 2,627 |  | 2,754 |  |
Of which: |  |  |  |  |  |  |  |  |  |  |  |
- current |  | 1,548 |  | 1,609 |  |  |  | 2,573 |  | 2,704 |  |
- non-current |  | 152 |  | 162 |  |  |  | 54 |  | 50 |  |
Schedule of hedging derivative instruments | Hedging derivative instruments are disclosed below:
|  | December 31, 2020 |  | December 31, 2019
|  | Nominal |  | Change in |  | Change in |  | Nominal |  | Change in |  | Change in
|  | amount of |  | fair value |  | fair value |  | amount of |  | fair value |  | fair value
|  | the hedging |  | (effective |  | (ineffective |  | the hedging |  | (effective |  | (ineffective
(€ million) |  | instrument |  | hedge) |  | hedge) |  | instrument |  | hedge) |  | hedge)
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  |  |
Derivatives on commodity |  |  |  |  |  |  |  |  |  |  |  |
- Over the counter |  | 821 |  | (438) |  |  |  | 2,179 |  | (1,357) |  | (2)
- Future |  | 541 |  | 158 |  | (1) |  | 1,245 |  | (61) |  |
|  | 1,362 |  | (280) |  | (1) |  | 3,424 |  | (1,418) |  | (2)
Schedule of breakdown of underlying asset or liability under cash flow hedge | The breakdown of the underlying asset or liability by type of risk hedged under cash flow hedge is provided below:
|  | December 31, 2020 |  | December 31, 2019
|  | Change of the |  |  |  |  |  | Change of the |  |  |  |
|  | underlying |  |  |  |  |  | underlying |  |  |  |
|  | asset used for |  |  |  |  |  | asset used for |  |  |  |
|  | the calculation |  |  |  |  |  | the calculation |  |  |  |
|  | of hedging |  | CFH |  | Reclassification |  | of hedging |  | CFH |  | Reclassification
(€ million) |  | ineffectiveness |  | reserve |  | adjustments |  | ineffectiveness |  | reserve |  | adjustments
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  |  |
Commodity price risk |  |  |  |  |  |  |  |  |  |  |  |
- Planned sales |  | 284 |  | (7) |  | (941) |  | 1,444 |  | (656) |  | (739)
|  | 284 |  | (7) |  | (941) |  | 1,444 |  | (656) |  | (739)
Schedule of effects recognized in other operating profit (loss) | Other operating profit (loss) related to derivative financial instruments on commodity was as follows:
(€ million) |  | 2020 |  | 2019 |  | 2018
Net income (loss) on cash flow hedging derivatives |  | (1) |  | (2) |  |
Net income (loss) on other derivatives |  | (765) |  | 289 |  | 129
|  | (766) |  | 287 |  | 129
Schedule of effects recognized in finance income (loss) |
(€ million) |  | 2020 |  | 2019 |  | 2018
Derivatives on exchange rate |  | 391 |  | 9 |  | (329)
Derivatives on interest rate |  | (40) |  | (23) |  | 22
|  | 351 |  | (14) |  | (307)

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