Apple 1999 Annual Report Download - page 33

Download and view the complete annual report

Please find page 33 of the 1999 Apple annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 137

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137

during 1999. Generally, all instruments mature within 6 months. Miscellaneous other currencies consist primarily of the Canadian and
Australian dollars.
30
1999 1998
--------------------------- ---------------------------
WEIGHTED-AVERAGE WEIGHTED-AVERAGE
NOTIONAL CONTRACT RATE OR NOTIONAL CONTRACT RATE OR
AMOUNT STRIKE PRICE AMOUNT STRIKE PRICE
-------- ---------------- -------- ----------------
In millions, except average contract rates and strike
prices
Foreign currency spot/forward contracts:
Japanese Yen.............................. $ 590 105.70 $ 98 139.45
British Pound Sterling.................... 86 1.62 10 1.68
Euro/German Marks......................... 177 1.05 138 1.72
Miscellaneous other currencies............ 62 49
------ ------
Total currency spot/forward contracts....... $ 915 $ 295
====== ======
Estimated fair value........................ $ (9) $ (8)
====== ======
Foreign currency purchased call options:
Japanese Yen.............................. $ 250 104.80 $ 255 130.22
British Pound Sterling.................... 0 0 75 1.68
Euro/German Marks......................... 105 1.14 180 1.71
Miscellaneous other currencies............ 55 85
------ ------
Total purchased call options............ $ 410 $ 595
------ ------
Foreign currency purchased put options:
Japanese Yen.............................. $ 860 118.31 $ 525 139.05
British Pound Sterling.................... 75 1.59 205 1.64
Euro/German Marks......................... 505 1.00 450 1.79
Miscellaneous other currencies............ 100 105
------ ------
Total purchased put options............. $1,540 $1,285
------ ------
Total foreign currency purchased options.... $1,950 $1,880
====== ======
Estimated fair value........................ $ 12 $ 22
====== ======
Foreign currency sold call options:
Japanese Yen.............................. $ 290 106.18 $ 240 128.08
British Pound Sterling.................... 25 1.69 150 1.70
Euro/German Marks......................... 120 1.09 110 1.71
Miscellaneous other currencies............ 50 180
------ ------
Total sold call options................. 485 680
------ ------
Foreign currency sold put options:
Japanese Yen.............................. 0 0 $ 135 145.46
Euro/German Marks......................... $ 75 1.00 $ 25 1.80
Miscellaneous other currencies............ 25 40
------ ------
Total sold put options.................. 100 200
------ ------
Total foreign currency sold options......... $ 585 $ 880
====== ======
Estimated fair value........................ $ (17) $ (15)
====== ======