registration document France Telecom 2009 - Orange.com

financial information concerning the issuer’s assets and liabilities, financial position and profits and losses
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CONSOLIDATED STATEMENTS
NOTE 23 Derivative instruments
Items in statement of financial position included in the derivatives portfolio
December 31, 2009 December 31, 2008 December 31, 2007
(in millions of euros)
Balance in
statement
of financial
position
o/w
derivatives
Balance in
statement
of financial
position
o/w
derivatives
Balance in
statement
of financial
position
o/w
derivatives
Non-current fi nancial liabilities at fair value through
profi t or loss (614) (614) (495) (492) (154) (137)
Non-current hedging derivatives liabilities (693) (693) (650) (650) (955) (955)
Current fi nancial liabilities at fair value through
profi t or loss (1,155) (1) (51) (913) (861) (730) (667)
Current hedging derivatives liabilities (1) (1) (2) (2) (353) (353)
Liabilities included in the derivatives portfolio (2) (1,359) (2,005) (2,112)
Non-current fi nancial assets at fair value through
profi t or loss 199 199 106 106 54 54
Non-current hedging derivatives assets 180 180 624 624 42 42
Current fi nancial assets at fair value through
profi t or loss, excluding cash equivalents 92 85 721 110 534 44
Current hedging derivatives assets 18 18 75 75 12 12
Assets included in the derivatives portfolio 482 915 152
Net derivatives (877) (1,090) (1,960)
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(1) Including ECMS public tender offer for (1,082) million euros (see Notes 3, Main acquisitions, disposals and charges in scope of consolidation and 31.4, C ommitments relating to
securities).
(2) Including Amena price guarantee for (810) million euros at December 31, 2008 and (516) million euros at December 31, 2007.
Analysis of market value of derivatives
December 31, 2009 December 31, 2008 December 31, 2007
(in millions of euros)
Net Net Net
Cash fl ow hedge derivatives (90) 476 (368)
Fair value hedge derivatives (381) (402) (886)
Net investment hedge derivatives (25) (27) -
Hedging derivatives (496) 47 (1,254)
Amena price guarantee - (810) (516)
Derivatives held for trading (381) (327) (190)
Net derivatives (877) (1,090) (1,960)
■ of which foreign exchange impact (946) (980) (1,774)
■ of which interest rate impact 67 700 322
2009 REGISTRATION DOCUMENT / FRANCE TELECOM
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