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136 Group Financial Statements Notes Assets Measured at Fair Value Categorized Using the Fair Value Measurement Hierarchy in € millions Level 1: Quoted prices in active markets Level 2: Observable market data Level 3: Not observable market data Total 12/31/2009 Financial assets initially recognized at fair value through profi t or loss – 81 384 465 Available-for-sale 38 39 69 146 Financial assets held for trading – 31 – 31 Derivatives with hedge relation – 34 – 34 38 185 453 676 Financial Assets Measured at Fair Value Based on Level 3 Financial Available- Financial Derivatives Total assets initially for-sale assets held with hedge recognized at fair value through profi t for trading relation in € millions or loss Balance as of 1/1/2009 410 69 – – 479 Total gain or loss – – – – – – in profi t or loss 19 – – – 19 – in other comprehensive income – (1) – – (1) Purchases – 1 – – 1 Issues – – – – – Settlements (45) – – – (45) Transfers out/in Level 3 – – – – – Balance as of 12/31/2009 384 69 – – 453 Gain (+) or loss (-) for assets still held at the end of the reporting period 21 – – – 21 Liabilities Measured at Fair Value Categorized Using the Fair Value Measurement Hierarchy Level 1: Level 2: Level 3: Total Quoted prices Observable Not observ- 12/31/2009 in active market data able market in € millions markets data Financial liabilities held for trading – 13 – 13 Derivatives with hedge relation – 40 – 40 – 53 – 53 Bertelsmann Annual Report 2009
Company | Group Management Group Financial | Corporate Governance | Report of the | Boards/Mandates | Additional Information Report Statements Supervisory Board Income Statement Statement of Comprehensive Income Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes Phase 1: Th e fair value of the existing fi nancial derivatives is determined on the basis of stock exchange listings at the balance sheet date. Phase 2: To determine the fair values of unlisted derivatives, Bertelsmann uses various fi nancial methods refl ecting the prevailing market conditions and risks at the respective balance sheet date. Irrespective of the type of fi nancial instrument, future cash fl ows are discounted as of the balance sheet date based on the prevailing market interest rates and interest rate structure curves on the balance sheet date. Th e fair value of forward exchange transactions is calculated using the average spot prices as of the balance sheet date and Net Result from Financial Instruments Loans and AvailableAvailable- Financial Financial Deriva- Assets and Financial Other receivables for-sale at for-sale at assets liabilities at tives with liabilities instruments currency cost fair value initially amortized hedge with hedge held for effects recognized recog- cost relation relation trading in equity nized at fair value through profit or in € millions loss Dividends – 10 – – – – – – – Impairment/disposal (94) (10) (2) – 7 – – – – Fair value measurement Currency translation – – – 44 – (12) – – – differences – – – – – (22) – (23) 54 Interest 22 – – – (264) (1) – 6 – Disposal – 7 – – – – – – – Net income 2009 (72) 7 (2) 44 (257) (35) – (17) 54 Dividends – 11 – – – – – – – Impairment/disposal (125) (39) – – 15 – – – – Fair value measurement Currency translation – – – 18 – (9) – – – differences – – – – – 19 – 115 (140) Interest 56 – – – (279) – – (1) – Disposal – 8 – – – – – – – Net income 2008 (69) (20) – 18 (264) 10 – 114 (140) Other currency translation diff erences consist of the exchange rate eff ects of loans and receivables and fi nancial liabilities at amortized cost. Bertelsmann Annual Report 2009 taking into account forward mark-downs and mark-ups for the remaining term of the transactions. Th e fair value of interest rate derivatives is calculated on the basis of the prevailing market rates and interest rate structure curves on the balance sheet date. Th e fair value of forward commodity transactions is derived from the stock exchange listings published on the balance sheet date. Any incongruities to the standardized stock exchange contracts are refl ected through interpolation or additions. Phase 3: Cash-fl ow based valuation methods were mostly used to determine the fair values for which no observable market data was available. 137
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Annual Report 2009 Digitization Inn
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Bertelsmann at a Glance Key Figures
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Corporate Divisions at a Glance RTL
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Content 8 - 23 175 Years of Bertels
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8 175 Years of Bertelsmann The Lega
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10 175 Years of Bertelsmann 1835 -
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22 175 Years of Bertelsmann Future
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24 The Management Letter from the C
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28 The Management Executive Board B
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30 The Group Bertelsmann Essentials
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32 The Group Bertelsmann Essentials
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38 40 RTL Group 42 Random House 44
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40 Divisions RTL Group RTL Group is
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1 3 imprints have enough to do? How
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F all 1973. The Middle East oil cri
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trigued by the articles about forei
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Annabelle Long is astonished. The y
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wants to start reading the third, t
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1835 1921 1950 1967
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52 Group Management Report Group Ma
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54 Group Management Report Controll
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56 Group Management Report Regulato
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58 Group Management Report Revenue
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60 Group Management Report Financia
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62 Group Management Report Bonds, P
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70 Group Management Report Bertelsm
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76 Group Management Report Bertelsm
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78 Group Financial Statements State
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80 Group Financial Statements Cash
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82 Group Financial Statements Notes
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84 Group Financial Statements Notes
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Page 198 and 199: 164 Additional Information Financia
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Values

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