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Derivative financial instruments and hedge accounting (Tables) | 12 Months Ended
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Dec. 31, 2021
Derivative financial instruments and hedge accounting |
Schedule of derivative financial instruments | ​
74 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 |  | December 31, 2020
​ |  | 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 |  | 113 |  | 39 |  | 2 | ​ | 125 |  | 127 |  | 2
- Interest currency swap |  | 30 |  | 7 |  | 2 | ​ | 128 |  | 2 |  | 2
- Outright |  | 3 |  | 11 |  | 2 | ​ | 4 |  | 7 |  | 2
​ |  | 146 |  | 57 |  | — | ​ | 257 |  | 136 |  | —
Derivatives on interest rate |  |  |  |  |  |  | ​ |  |  |  |  |
- Interest rate swap |  | 13 |  | 43 |  | 2 | ​ | 23 |  | 74 |  | 2
​ |  | 13 |  | 43 |  | — | ​ | 23 |  | 74 |  | —
Derivatives on commodities |  | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​
- Future |  | 603 |  | 496 |  | 1 | ​ | 418 |  | 447 |  | 1
- Over the counter |  | 102 |  | 121 |  | 2 | ​ | 89 |  | 77 |  | 2
- Other |  | 1 |  | 55 |  | 2 | ​ | 5 |  | — |  | 2
​ |  | 706 |  | 672 |  | — | ​ | 512 |  | 524 |  | —
​ |  | 865 |  | 772 |  | — | ​ | 792 |  | 734 |  | —
Trading derivatives |  |  |  |  |  |  | ​ |  |  |  |  |
Derivatives on commodities |  |  |  |  |  |  | ​ |  |  |  |  |
- Over the counter |  | 12,050 |  | 11,939 |  | 2 | ​ | 1,167 |  | 1,451 |  | 2
- Future |  | 6,555 |  | 5,002 |  | 1 | ​ | 440 |  | 525 |  | 1
- Options |  | — |  | — |  | — | ​ | 4 |  | 3 |  | 2
​ |  | 18,605 |  | 16,941 |  | — | ​ | 1,611 |  | 1,979 |  | —
Cash flow hedge derivatives |  |  |  |  |  |  | ​ |  |  |  |  |
Derivatives on commodities |  |  |  |  |  |  | ​ |  |  |  |  |
- Over the counter |  | 7 |  | 735 |  | 2 | ​ | 209 |  | 30 |  | 2
- Future |  | 193 |  | 1,672 |  | 1 | ​ | 119 |  | 8 |  | 1
​ |  | 200 |  | 2,407 |  | — | ​ | 328 |  | 38 |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives on interest rate | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
- Interest rate swap | ​ | — | ​ | 3 | ​ | 2 | ​ | — | ​ | — | ​ | —
​ | ​ | — | ​ | 3 | ​ | — | ​ | — | ​ | — | ​ | —
​ | ​ | 200 | ​ | 2,410 | ​ | — | ​ | 328 | ​ | 38 | ​ | —
Options | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
- Option embedded in convertible bonds |  | — | ​ | — | ​ | — | ​ | 2 | ​ | 2 | ​ | 2
- Other options | ​ | — |  | 62 |  | 3 | ​ | — |  | 51 |  | 3
​ | ​ | — | ​ | 62 | ​ | — | ​ | 2 | ​ | 53 | ​ | —
Gross amount |  | 19,670 |  | 20,185 | ​ | — | ​ | 2,733 |  | 2,804 | ​ | —
Offsetting |  | (7,159) |  | (7,159) | ​ | — | ​ | (1,033) |  | (1,033) | ​ | —
Net amount |  | 12,511 |  | 13,026 | ​ | — | ​ | 1,700 |  | 1,771 | ​ | —
Of which: |  |  |  |  | ​ | ​ | ​ |  |  |  | ​ | ​
- current |  | 12,460 |  | 12,911 | ​ | — | ​ | 1,548 |  | 1,609 | ​ | —
- non-current |  | 51 |  | 115 | ​ | — | ​ | 152 |  | 162 | ​ | —
Schedule of hedging derivative instruments | Hedging derivative instruments are disclosed below:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2021 |  | December 31, 2020
​ | ​ | 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 |  | (461) |  | (2,016) |  | (46) |  | 821 |  | (438) |  | —
- Future |  | (364) |  | 534 |  | (5) |  | 541 |  | 158 |  | (1)
​ |  | (825) |  | (1,482) |  | (51) |  | 1,362 |  | (280) |  | (1)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives on interest rate | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
- Interest rate swap | ​ | 84 | ​ | 3 | ​ | — | ​ | — | ​ | — | ​ | —
​ | ​ | 84 | ​ | 3 | ​ | — | ​ | — | ​ | — | ​ | —
​ | ​ | (741) | ​ | (1,479) | ​ | (51) | ​ | 1,362 | ​ | (280) | ​ | (1)
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, 2021 |  | December 31, 2020
​ | ​ | 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 |  | 86 |  | (1,272) |  | (215) |  | 284 |  | (7) |  | (941)
​ |  | 86 |  | (1,272) |  | (215) |  | 284 |  | (7) |  | (941)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives on interest rate | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
- hedged flows | ​ | (3) | ​ | 3 | ​ | — | ​ | — | ​ | — | ​ | —
​ | ​ | (3) | ​ | 3 | ​ | — | ​ | — | ​ | — | ​ | —
​ | ​ | 83 | ​ | (1,269) | ​ | (215) | ​ | 284 | ​ | (7) | ​ | (941)
​
Schedule of effects recognized in other operating profit (loss) | Other operating profit (loss) related to derivative financial instruments on commodity was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(€ million) |  | 2021 |  | 2020 |  | 2019
Net income (loss) on cash flow hedging derivatives |  | (51) | ​ | (1) | ​ | (2)
Net income (loss) on other derivatives |  | 954 |  | (765) |  | 289
​ |  | 903 |  | (766) |  | 287
Schedule of effects recognized in finance income (loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(€ million) |  | 2021 |  | 2020 |  | 2019
Derivatives on exchange rate |  | (322) |  | 391 |  | 9
Derivatives on interest rate |  | 16 |  | (40) |  | (23)
​ |  | (306) |  | 351 |  | (14)

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