APC 2009 Annual Report Download - page 163

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2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 161
CONSOLIDATED FINANCIAL STATEMENTS
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note25
Other non-current liabilities
Dec. 31, 2009 Dec. 31, 2008
Clipsal acquisition debt 812
Other 98
OTHER NON-CURRENT LIABILITIES 17 20
The agreement for the acquisition of Clipsal includes a seller’s warranty providing for part of the acquisition price to be withheld. This amount
has been placed in escrow (note15.2).
Note26
Financial instruments
The Group uses fi nancial instruments to manage its exposure to fl uctuations in interest rates, exchange rates and metal prices. Exposure to
these risks is described in the chapter on Risk Factors in the Registration Document.
26.1 - Carrying amount and nominal amount of derivative financial instruments
Dec. 31, 2009 Dec. 31, 2008
Other
fi nancial
income and
expense (1) Equity (2)
Carrying
amount
Nominal amount
IFRS
designation
Carrying
amountPurchase Sale
Foreign exchange
Futures - cash fl ow hedges 17 16 (6) 1,007 - CFH* (39)
Futures - net investment hedges - (1) (1) - 777 NIH* -
Futures - hedges of balance sheet items (52) - (27) 2,176 1,496
Trading/
FHV* 25
Metal prices
Futures and options - 107 9 85 - CFH* (98)
Interest rates
Swaps on credit lines 19 (5) (41) 1,399 - CFH*/FVH* (55)
DERIVATIVES FINANCIAL
INSTRUMENTS (16) 117 (66) - - (167)
* Cash fl ow hedge / Net investment hedge / Fair value hedge.
(1) Gains and losses on hedging instruments for the period are offset by changes in the fair value of the underlying, which are also
recognised in “Other fi nancial income and expense”.
(2) Reported in equity under “Other Comprehensive Income”.
The market value of fi nancial instruments, which corresponds to their carrying amount, is estimated either internally by discounting future
differential cash fl ows at current market interest rates or by third party banks.