Å kodaAuto ANNUAL REPORT 2006 - Skoda Auto

Derivative financial instruments
The following positive and negative fair value result from the derivate financial instruments (CZK million):
31.12.2006 31.12.2005
Assets Liabilities Assets Liabilities
Interest rate swaps – cash flow hedges – 68 – 121
Foreign currency forwards – cash flow hedges 1 157 755 229 527
Foreign currency swaps – cash flow hedges – – – 8
Total 1 157 823 229 656
Gains and losses on foreign currency forwards recognised in equity as of year-end 2006 will be released to the income statement at
various dates up to two years after the balance sheet date. Gains and losses on interest rates swaps recognised in equity as of year-end
2006 will be released to the income statement at various dates till the maturity of issued bonds (Note 13).
Fixed interest rates of interest rate swaps as of 31 December 2006 were in range from 3.39% to 4.10% (31 December 2005: from 3.39% to
4.10%).
Further details on the financial derivates are given in notes 1.8, 1.19 and 15.
8. Inventories (CZK million)
Structure of the inventories Carrying value Carrying value
31.12.2006 31.12.2005
Raw materials, consumables and supplies 2,687 2,545
Work in progress 1,819 1,638
Finished products 2,786 2,749
Goods 1,627 1,522
Total inventories 8,919 8,455
The amount of inventories recognised as an expense during 2006 was CZK 163,958 million (2005: CZK 156,696 million).
9. Trade receivables (CZK million)
31.12.2006 31.12.2005
Trade receivables from:
Third parties 2,483 2,888
Subsidiaries 609 704
Other related parties 2,258 1,928
Total 5,350 5,520
Allowances for impairment losses on trade receivables of CZK 277 million (2005: CZK 422 million) were already reflected in the amounts
noted above.
The carrying value (less impairment provision, if any) of trade receivables are assumed to approximate their fair values due to the short-term
nature of these financial assets.
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