Debt & ratings
Liabilities are split into two categories: liabilities linked to operating activities (consolidated financial liabilities related to specific balance sheet items) and liabilities linked to financing activities (including the other consolidated financial liabilities).
|Liabilities linked to operating activities||36,787||36,541|
|Liabilities linked to financing activities||13,117||12,253|
|Other non subordinated liabilities linked to financing activities||482||460|
The weighted average cost of liabilities linked to financing activities at 31 December 2015 amounted to 5.65%, substantially unchanged to the 5.62% at 31 December 2014 and the 5.67% at 30 September 2015.
Average cost & maturity of financial debt (%)
|Average cost (%)||5.65%||5.62%|
|Average maturity (years)||6.68||6.87|
|Interest coverage ratio*||6.2x||5.3x|
*Note: EBIT (Earnings before Interests and Taxes)/interest expenses