Net financial debt

In millions of euros Dec. 31, 2009 Dec. 31, 2008Change
Financial debt from continuing operations    
A. Medium- and long-term debt     
- Bond (1) 2,643.52,031.8 611.7
- Floating-rate loans (1) 1,555.71,615.2 -59.5
- Derivative financial instruments (2) -40.6-49.7 9.1
- Other financial liabilities 0.00.9 -0.9
Total A 4,158.63,598.2 560.4
B. Short-term debt (liquidity)      
- Floating-rate loans (current portion) (3) 59.7 44.6 15.1
- Short-term securities (4) -500.0 0.0 -500.0
- Short-term loans 40.0 0.0 40.0
- Cash and cash equivalents -0.1 -689.2 689.1
Total B -400.4 -644.6 244.2
Net financial debt from continuing operations 3,758.2 2,953.6 804.6
Net financial debt from discontinued operations 0.0 412.2 -412.2
Total net financial debt 3,758.2 3,365.8 392.4

On the consolidated statement of financial position:
(1) This figure corresponds to “Long-term loans”;
(2) This figure corresponds to “Non-current financial liabilities” and “Non-current financial assets”;
(3) This figure corresponds to “Current portion of long-term loans”;
(4) This figure is included under “Current financial assets”.

The €804.6 million increase in net financial debt from continuing operations reflects the impact discussed in relation to Terna debt, taking account of intercompany items in respect of the net current account position (a €2.2 million increase from December 31, 2008) and the loan granted to TELAT during the year (in the amount of €500 million).
Total net financial debt posted a smaller increase, of €392.4 million, following the deconsolidation of the debt of the Brazilian companies sold (€412.2 million at December 31, 2008).