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3.6 Consolidated financial statements Notes to the consolidated financial statements 3.6 Consolidated financial statements Notes to the consolidated financial statements million € Carrying amount on balance sheet Sept. 30, 2011 (Amortized) cost Measurement in accordance with IAS 39 Fair value recognized in profit or loss Fair value recognized in equity Measurement in accordance with IAS 17 Amortized cost Trade accounts receivable, net (excluding finance lease) 5,055 5,055 5,055 Loans and receivables 5,055 5,055 Finance lease receivables 4 4 4 Other financial assets 649 417 137 95 649 Loans and receivables 370 370 178 Fair value Sept. 30, 2011 Available-for-sale financial assets 47 13 60 Derivatives that do not qualify for hedge accounting (Financial assets held for trading) 137 137 Derivatives that qualify for hedge accounting 0 82 82 Cash and cash equivalents 3,230 3,230 3,230 Loans and receivables 3,230 3,230 Total of financial assets 8,938 thereof by measurement categories of IAS 39: Loans and receivables 8,655 8,655 8,655 Available-for-sale financial assets 60 47 13 60 Derivatives that do not qualify for hedge accounting (Financial assets held for trading) 137 137 137 Financial debt (excluding finance lease) 6,604 6,604 6,929 Financial liabilities measured at amortized cost 6,604 6,929 Finance lease liabilities 68 68 68 Trade accounts payable 4,807 4,807 4,807 Financial liabilities measured at amortized cost 4,807 4,807 Other financial liabilities 1,358 980 282 96 1,358 Financial liabilities measured at amortized cost 980 980 Derivatives that do not qualify for hedge accounting (Financial liabilities held for trading) 282 282 Derivatives that qualify for hedge accounting 0 96 96 Total of financial liabilities 12,837 thereof by measurement categories of IAS 39: Financial liabilities measured at amortized cost 12,391 12,391 12,716 Derivatives that do not qualify for hedge accounting (Financial liabilities held for trading) 282 282 282 The carrying amounts of trade accounts receivable, other current receivables as well as cash and cash equivalents equal their fair values. The fair value of fixed rate loans equals the present value of expected cash flows which are discounted on the basis of interest rates prevailing on the balance sheet date. Available-for-sale financial assets primarily include equity and debt instruments. They are in general measured at fair value, which is based to the extent available on market prices as of the balance sheet date. When no quoted market prices in an active market are available and the fair value cannot be reliably measured, available-for-sale financial assets are measured at cost. The fair value of foreign currency forward transactions is determined on the basis of the middle spot exchange rate applicable as of the balance sheet date, and taking account of forward premiums or discounts arising for the respective remaining contract term compared to the contracted forward exchange rate. Common methods for calculating option prices are used for foreign currency options. The fair value of an option is influenced not only by the remaining term of an option, but also by other factors, such as current amount and volatility of the underlying exchange or base rate.
Interest rate swaps and cross currency swaps are measured at fair value by discounting expected cash flows on the basis of market interest rates applicable for the remaining contract term. In the case of cross currency swaps, the exchange rates for each foreign currency, in which cash flows occur, are also included. The fair value of commodity futures is based on published price quotations. It is measured as of the balance sheet date, both internally and by external financial partners. Consolidated financial statements 178 | 179 The carrying amounts of trade accounts receivable and other current liabilities equal their fair values. The fair value of fixed rate liabilities equals the present value of expected cash flows. Discounting is based on interest rates applicable as of the balance sheet date. The carrying amounts of floating rate liabilities equal their fair values. Financial assets and liabilities measured at fair value could be categorized in the following three level fair value hierarchy: million € Balance as of Sept. 30, 2010 Level 1 Level 2 Level 3 Financial assets at fair value Fair value recognized in profit or loss Derivatives that do not qualify for hedge accounting (Financial assets held for trading) 172 0 172 0 Derivatives that qualify for hedge accounting Fair value recognized in equity 4 0 4 0 Available-for-sale financial assets 19 16 3 0 Derivatives that qualify for hedge accounting 150 0 150 0 Total Financial liabilities at fair value Fair value recognized in profit or loss Derivatives that do not qualify for hedge accounting 345 16 329 0 (Financial assets held for trading) 137 0 137 0 Derivatives that qualify for hedge accounting Fair value recognized in equity 1 0 1 0 Derivatives that qualify for hedge accounting 66 0 66 0 Total 204 0 204 0 million € Balance as of Sept. 30, 2011 Level 1 Level 2 Level 3 Financial assets at fair value Fair value recognized in profit or loss Derivatives that do not qualify for hedge accounting (Financial assets held for trading) 137 0 137 0 Derivatives that qualify for hedge accounting Fair value recognized in equity 0 0 0 0 Available-for-sale financial assets 13 11 2 0 Derivatives that qualify for hedge accounting 82 0 82 0 Total Financial liabilities at fair value Fair value recognized in profit or loss Derivatives that do not qualify for hedge accounting 232 11 221 0 (Financial assets held for trading) 282 0 282 0 Derivatives that qualify for hedge accounting Fair value recognized in equity 0 0 0 0 Derivatives that qualify for hedge accounting 96 0 96 0 Total 378 0 378 0
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Annual Report 2010/2011 At the cent
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Our mission statement We are Thysse
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Our capabilities Material We combin
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Making tomorrow possible Our engine
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Letter to shareholders Dr.-Ing. Hei
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Letter to shareholders To assist ou
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Contents Our mission statement C2 F
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To our shareholders To our sharehol
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Solutions for many sectors In the f
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To our shareholders 1.1 To our shar
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To our shareholders Wilhelm Segerat
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Management report on the Group Mana
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Lightening the load The challenge o
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Management report on the Group 2.1
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IPO: Sale of a company to investors
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Consolidated fi nancial statements
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Page 193 and 194: million € For the fiscal year end
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4.1 Additional information Multi-ye
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4.5 Additional information Index 4.
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4.6 Additional information List of
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4.8 Additional information Contact
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