39 2 OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES 39 2 1 At 31 December 2017 As reported in balance sheet Balance without offsetting Balance with offsetting under IAS 32 Gross amount recognised (before offsetting) 6, 194 (5, 661) 234 (844) 11, 067 (9, 924) Gross amount offset under IAS 32 (5, 107) 5, 107 Net amount recognised after offsetting under IAS 32 5, 960 (4, 817) Amounts covered by a general offsetting agreement but not offset under IAS 32 Fair value of financial collateral (1, 073) 768 (in millions of Euros) Fair value of derivatives assets Fair value of derivatives liabilities Financial instruments Net amount (1, 652) 1, 652 3, 235 (2, 397) Page 123 of 154 39 2 2 At 31 December 2016 As reported in balance sheet Balance without offsetting Balance with offsetting under IAS 32 Gross amount recognised (before offsetting) 9, 869 (7, 370) 5, 043 (5, 240) 10, 741 (8, 045) Gross amount offset under IAS 32 (5, 915) 5, 915 Net amount recognised after offsetting under IAS 32 4, 826 (2, 130) Amounts covered by a general offsetting agreement but not offset under IAS 32 Fair value of financial collateral (2, 303) 56 (in millions of Euros) Fair value of derivatives assets Fair value of derivatives liabilities Financial instruments Net amount (1, 689) 1, 689 834 (385) Note 40 Management of market and counterparty risks As an operator in the energy sector worldwide.
