40) Borrowings


Borrowings consist of a non-current portion with a residual term of more than one year and a current portion of less than one year which is shown under current liabilities. The following table shows the total amount of borrowings:

Borrowings 31.12.2011

in €m

Total

Non-current

Current

Bonds

2,119

2,112

7

Liabilities to banks

1,456

1,171

285

Leasing liabilities and other loans

2,849

2,525

324

 

6,424

5,808

616

Borrowings 31.12.2010

in €m

Total

Non-current

Current

*

Rounded below EUR 1m.

Bonds

2,177

2,177

0*

Liabilities to banks

1,925

1,358

567

Leasing liabilities and other loans

3,082

2,692

390

 

7,184

6,227

957

The following table shows the carrying amounts and fair values for individual classes of borrowings. The fair values given for the bonds are their quoted prices. The fair values for other types of borrowing have been calculated using the applicable interest rates for the remaining term to maturity and repayment structures at the balance sheet date based on available market information (Reuters).

Borrowings

 

31.12.2011

31.12.2010

in €m

Carrying amount

Fair value

Carrying amount

Fair value

Bonds

2,119

2,383

2,177

2,462

Liabilities to banks

1,456

1,492

1,925

2,089

Leasing liabilities and other loans

2,849

3,098

3,082

3,133

 

6,424

6,973

7,184

7,684

Collateral was provided for EUR 709m of the liabilities to banks (previous year: EUR 1,150m).

There were no delays or defaults on payment obligations under these loan agreements in either 2011 or 2010.

Leasing liabilities and other loans relate exclusively to finance leases described in “Note 22” and aircraft financing arrangements described in “Note 19”.

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