pdf (2.5 MB) - METRO Group
pdf (2.5 MB) - METRO Group
pdf (2.5 MB) - METRO Group
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<strong>METRO</strong> GROUP : ANNUAL REPORT 2010 : BUSINESS<br />
→ NOTES : OThER NOTES<br />
€ million<br />
The nominal volume of forex futures/options and interest<br />
limitation agreements results from the net position of the<br />
buying and selling values in foreign currency underlying the<br />
individual transactions translated at the relevant exchange<br />
rate on the closing date. The gross nominal volume of interest<br />
rate swaps or interest rate/currency swaps and interest<br />
rate hedging agreements is shown. The stated amount for<br />
hedges related to share bonus programmes includes the<br />
number of share options with a subscription ratio of 1:1.<br />
31/12/2010 31/12/2009<br />
Nominal<br />
volume<br />
(millions)<br />
Fair values<br />
Financial<br />
assets<br />
Financial<br />
liabilities<br />
Nominal<br />
volume<br />
(millions)<br />
Fair values<br />
Financial<br />
assets<br />
→ p. 205<br />
Financial<br />
liabilities<br />
Interest rate transactions<br />
Interest rate swaps 171 0 17 171 0 15<br />
within fair value hedges (0) (0) (0) (0) (0) (0)<br />
within cash flow hedges (126) (0) (8) (126) (0) (6)<br />
not part of a hedge (45) (0) (9) (45) (0) (9)<br />
Currency transactions<br />
Currency futures/options 451 15 22 230 16 18<br />
within fair value hedges (0) (0) (0) (0) (0) (0)<br />
within cash flow hedges (399) (4) (11) (212) (3) (3)<br />
not part of a hedge (52) (11) (11) (18) (13) (15)<br />
Interest rate/currency swaps 29 15 0 37 14 10<br />
within fair value hedges (0) (0) (0) (0) (0) (0)<br />
within cash flow hedges (0) (0) (0) (0) (0) (0)<br />
not part of a hedge (29) (15) (0) (37) (14) (10)<br />
480 30 22 267 30 28<br />
Commodity transactions<br />
forex futures<br />
7 million<br />
litres<br />
543 GWh 4 0<br />
7 million<br />
litres<br />
499 GWh 8 16<br />
within fair value hedges (0) (0) (0) (0) (0) (0)<br />
within cash flow hedges (0) (0) (0) (0) (0) (0)<br />
not part of a hedge<br />
(7 million<br />
litres<br />
543 GWh) (4) (0)<br />
(7 million<br />
litres<br />
499 GWh) (8) (16)<br />
Share price-related transactions<br />
2 million<br />
4 million<br />
hedging of stock options<br />
shares 33 0 shares 14 0<br />
within fair value hedges (0) (0) (0) (0) (0) (0)<br />
(2 million<br />
(4 million<br />
within cash flow hedges<br />
shares) 33 (0) shares) (14) (0)<br />
not part of a hedge (0) 0 (0) (0) (0) (0)<br />
n/a 67 39 n/a 52 59<br />
All fair values represent the theoretical value of these<br />
instruments upon dissolution of the transactions at the end<br />
of the period. under the premise that instruments are held<br />
until the end of their term, these are unrealised gains and<br />
losses that, by the end of the term, will be fully set off by<br />
gains and losses from the underlying transactions in the<br />
case of fully effective hedging transactions.
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