APC 2010 Annual Report Download - page 203

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CONSOLIDATED FINANCIAL STATEMENTS
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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
IFRS
designation
Dec.31, 2009 Dec.31, 2010 Dec.31, 2010
Change over the period
Carrying
amount
Nominal amount
Carrying
amount Statement of
income(1) Equity(2) Other Sale Purchase
Foreign exchange
Futures - cash fl ow hedges CFH* (6) (82) (7) - (95) - (1,158)
Futures - net investment hedges NIH* (1) - 10 - 9 627 -
Futures - hedges of balance
sheet items Trading/FVH* (27) 2 (1) 2 (24) 1,849 (1,583)
Metal prices
Futures and options CFH* 9 - 5 - 14 - (51)
Share-based payment
Call options CFH* - 13 12 28 53 - (79)(3)
Interest rates
Swaps
on credit lines CFH*/FVH* (41) 3 14 - (24) - (1,399)
DERIVATIVES FINANCIAL
INSTRUMENTS (66) (64) 33 30 (67)
* Cash fl ow hedge/ Fair value hedge/ Net investment hedge.
(1) Gains and losses on hedging instruments for the period are offset by changes in the fair value of the underlying items, which are also
recognised in net result.
(2) Reported in equity under “Other Comprehensive Income”.
(3) 1,121,990 Schneider Electric stocks are hedged in relation to Stock Appreciation Rights granted to US employees.
The market value of fi nancial instruments, which their carrying amount refl ects, is estimated either internally by discounting future differential
cash fl ows at current market interest rates or by third party banks.
2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 201