ABB Annual Report 2012 PDF - ABB Group Annual Report 2012

Note 5Financial instruments, continuedThe fair values of derivatives included in the Consolidated Balance Sheets were as follows:Derivative assetsDerivative liabilitiesDecember 31, 2012 ($ in millions)Current in“Other currentassets”Non-current in“Other non-currentassets”Current in“Provisions and othercurrent liabilities”Non-current in“Other non-currentliabilities”Derivatives designated as hedging instruments:Foreign exchange contracts 34 20 14 6Commodity contracts 1 – 1 –Interest rate contracts 15 31 – 2Cash-settled call options 9 16 – –Total 59 67 15 8Derivatives not designated as hedging instruments:Foreign exchange contracts 204 62 84 20Commodity contracts 7 1 11 1Interest rate contracts – – – –Cash-settled call options – 1 – –Embedded foreign exchange derivatives 26 13 86 40Total 237 77 181 61Total fair value 296 144 196 69Derivative assetsDerivative liabilitiesDecember 31, 2011 ($ in millions)Current in“Other currentassets”Non-current in“Other non-currentassets”Current in“Provisions and othercurrent liabilities”Non-current in“Other non-currentliabilities”Derivatives designated as hedging instruments:Foreign exchange contracts 37 6 26 10Commodity contracts 1 – 6 –Interest rate contracts – 40 – –Cash-settled call options 13 6 – –Total 51 52 32 10Derivatives not designated as hedging instruments:Foreign exchange contracts 142 38 289 28Commodity contracts 9 1 33 3Interest rate contracts – – – 1Cash-settled call options 1 1 – –Embedded foreign exchange derivatives 51 13 77 19Total 203 53 399 51Total fair value 254 105 431 61Although the Company is party to close-out netting agreements with most derivative counterparties, the fair valuesin the tables above and in the Consolidated Balance Sheets at December 31, 2012 and 2011, have been presented ona gross basis.ABB Annual Report 2012 | Financial review 99