Nokia 2007 Annual Report Download - page 199
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26. Derivative financial instruments (Continued)
Fair value
(1)
Notional
(2)
Fair value
(1)
Notional
(2)
2006
Assets
2006
Liabilities
EURm EURm EURm EURm
Hedges of net investment in foreign subsidiaries:
Forward foreign exchange contracts ........... 27 1 561 (6) 686
Currency options bought .................... — 186 ——
Cash flow hedges:
Forward foreign exchange contracts ........... 27 1 783 (51) 11 641
Derivatives not designated in hedge accounting
relationships carried at fair value through profit
and loss:
Forward foreign exchange contracts ........... 11 12 090 (7) 2 098
Currency options bought .................... 2 218 (1) 50
Currency options sold ....................... ——(2) 143
Cash settled equity options bought
(3)
.......... 763——
Cash settled equity options sold
(3)
............. ——(2) 18
74 15 901 (69) 14 636
(1)
The fair value of derivative financial instruments is included on the asset side under heading
Other financial assets and on the liability side under Short term borrowings.
(2)
Includes the gross amount of all notional values for contracts that have not yet been settled or
cancelled. The amount of notional value outstanding is not necessarily a measure or indication of
market risk, as the exposure of certain contracts may be offset by that of other contracts.
(3)
Cash settled equity options are used to hedge risk relating to employee incentive programs and
investment activities.
27. Provisions
Warranty Restructuring
IPR
infringements Tax Other Total
EURm EURm EURm EURm EURm EURm
At January 1, 2007 ................. 1198 65 284 402 437 2386
Exchange differences ................ (10) — — — — (10)
Acquisitions ....................... 263 — — — 134 397
Additional provisions ................ 1127 744 345 59 548 2823
Change in fair value ................. — — — — 16 16
Changes in estimates ................ (126) (53) (47) (9) (216) (451)
Charged to profit and loss account ..... 1001 691 298 50 348 2388
Utilized during year ................. (963) (139) (37) — (305) (1444)
At December 31, 2007 .............. 1489 617 545 452 614 3717
F56
Notes to the Consolidated Financial Statements (Continued)