18. Trade and other payables: amounts falling due after more than one year

The following are included in trade and other payables falling due after more than one year:


	2018 £m		2017 £m
Payments due to vendors (earnout agreements)		266.5		450.0
Liabilities in respect of put option agreements with vendors		205.2		219.5
Fair value of derivatives		14.2		3.3
Other creditors and accruals		355.5		320.0
		841.4		992.8

The Group considers that the carrying amount of trade and other payables approximates their fair value.

The following tables set out payments due to vendors, comprising contingent consideration and the Directors’ best estimates of future earnout-related obligations:


	2018 £m			2017 £m
Within one year		148.2			180.7
Between one and two years		140.2			128.3
Between two and three years		38.5			144.1
Between three and four years		50.3			58.3
Between four and five years		20.4			103.1
Over five years		17.1			16.2
		414.7			630.7

	2018 £m			2017 £m
At beginning of year		630.7			976.5
Earnouts paid (note 11)		(120.2	)		(199.1	)
New acquisitions		48.6			163.7
Revision of estimates taken to goodwill (note 12)		(68.3	)		(60.7	)
Revaluation of payments due to vendors (note 6)		(82.6	)		(208.6	)
Exchange adjustments		6.5			(41.1	)
At end of year		414.7			630.7

As of 31 December 2018, the potential undiscounted amount of future payments that could be required under the earnout agreements for acquisitions completed in the current year and for all earnout agreements range from £nil to £179 million (2017: £nil to £228 million) and £nil to £1,960 million (2017: £nil to £1,910 million), respectively.