28. Liabilities

Financial liabilities as at the balance sheet date were as follows:

T 083
 
in € thousand 9/30/2016 9/30/2015
     
Non-current (with a residual terms of more than 1 year)    
Bank borrowings 321,225 463,681
Liabilities under finance leases 15,887 16,997
Derivative financial instruments of the “held-for-trading” category 17,122 21,626
Liabilities to related parties 0 950
Derivative financial instruments held as hedging instruments in the context of hedge accounting 1,666 5,040
 
Non-current financial liabilities 355,900 508,294
 
 
Current (with a residual terms of less than 1 year)    
Trade accounts payable 797,710 761,409
Bank borrowings 156,209 23,506
Derivative financial instruments of the “held-for-trading” category 18,110 87,209
Liabilities to related parties 2,157 4,663
Liabilities under finance leases 1,922 1,915
Derivative financial instruments held as hedging instruments in the context of hedge accounting 5,796 25,850
Sundry other current financial liabilities 83,693 69,302
 
Current financial liabilities 1,065,597 973,854

The liabilities under finance leases include the present value of the lease installments and the contractually guaranteed residual values at the end of the lease term. Payments are due as follows:

T 084
                 
  9/30/2016 9/30/2015
                 
in € thousand less than
1 year
1 to
5 years
more than
5 years
Total less than
1 year
1 to
5 years
more than
5 years
Total
                 
Expected lease payments 2,546 8,764 9,970 21,280 2,399 8,658 11,960 23,017
Interest portion 624 1,843 1,004 3,471 666 2,063 1,375 4,104
Redemption portion 1,922 6,921 8,966 17,809 1,733 6,595 10,585 18,913
                  

The finance leasing agreements include both extension and purchase options, as well as price adjustment clauses.

The following table shows the Aurubis Group’s contractually agreed undiscounted interest and redemption payments for non-derivative financial liabilities and the discounted net cash flows of the derivative financial instruments with negative fair values.

Payments in the amount of € 311.9 million (previous year: € 788.5 million) deriving from forward foreign exchange transactions with a negative fair value were matched by receipts in the amount of € 304.5 million as at September 30, 2016 (previous year: € 752.0 million). Derivatives with positive fair values qualify as assets and were therefore not included.

T 085
         
  Payments
         
in € thousand Carrying
amount as at
9/30/2016
up to 1 year from 1 to
5 years
more than
5 years
         
Bank borrowings 477,434 156,209 205,725 115,500
Liabilities under finance leases 17,809 1,923 3,677 12,209
Trade accounts payable 797,710 797,710 0 0
Liabilities to related parties 2,157 2,157 0 0
Derivatives of the “held-for-trading” category 35,232 18,110 17,122 0
Derivatives designated as hedging instruments for hedge accounting purposes 7,461 5,795 1,666 0
Sundry other financial liabilities 83,694 83,694 0 0
         
Total 1,421,497 1,065,598 228,190 127,709
T 086
         
  Payments
         
in € thousand Carrying
amount as at
9/30/2015
up to 1 year from 1 to
5 years
more than
5 years
         
Bank borrowings 487,187 29,193 370,278 125,124
Liabilities under finance leases 18,913 1,915 4,760 12,210
Trade accounts payable 761,409 761,409 0 0
Liabilities to related parties 5,613 4,663 950 0
Derivatives of the “held-for-trading” category 108,835 87,209 21,626 0
Derivatives designated as hedging instruments for hedge accounting purposes 30,889 25,850 5,039 0
Sundry other financial liabilities 69,302 69,302 0 0
         
Total 1,482,148 979,541 402,653 137,334

This presentation above does not show any plan figures but only the financial instruments that were held as at September 30, 2016 or September 30, 2015 respectively and for which contractual agreements on the payments existed. Foreign currency amounts are translated at the closing rate.

Aurubis had no bank borrowings secured by mortgages and fixed assets. Financial assets have not been pledged as collateral for bank borrowings.

Non-financial liabilities as at the balance sheet date were as follows:

T 087
     
in € thousand 9/30/2016 9/30/2015
     
Non-current (with a residual term of more than 1 year)    
Non-current non-financial liabilities 1,201 1,179
     
Non-current non-financial liabilities 1,201 1,179
 
Current (with a residual term of less than 1 year)    
Other tax liabilities 13,223 11,223
Social security obligations 13,704 15,764
Income tax liabilities 4,522 53,926
Advance payments received on orders 5,220 3,385
Other current non-financial liabilities 7,279 9,123
 
Current non-financial liabilities 43,948 93,421

Other tax liabilities mainly comprise VAT liabilities.

Please refer to the consolidated cash flow statement for information about the change in liabilities from income taxes.