Annual Report 2006 ISS Global A/S
Annual Report 2006 ISS Global A/S
Annual Report 2006 ISS Global A/S
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<br />
1 January – 31 December. Amounts in DKK millions<br />
31. Derivatives (continued)<br />
Contractual values and unrealised gains and losses are specified below for financial instruments used to hedge the foreign exchange<br />
risk and the interest rate risk:<br />
Unrealised Included in Taken directly<br />
2005<br />
gain/(loss) on the income to equity on<br />
Contractual revaluation statement 31 December<br />
Financial instruments<br />
Forward foreign currency, purchases<br />
value to fair value for 2005 2005 Maturity<br />
CHF 124 0<br />
0<br />
- <strong>2006</strong><br />
EUR 5,670 (0)<br />
(0)<br />
- <strong>2006</strong><br />
GBP 454 1<br />
1<br />
- <strong>2006</strong><br />
NOK 445 3<br />
3<br />
- <strong>2006</strong><br />
SEK 289 1<br />
1<br />
- <strong>2006</strong><br />
Others 31 0<br />
0<br />
- <strong>2006</strong><br />
7,013<br />
Forward foreign currency, sales<br />
AUD 578<br />
CHF 209<br />
EUR 4,939<br />
GBP 521<br />
HKD 214<br />
NOK 224<br />
SGD 12<br />
USD-related 221<br />
Others 99<br />
Interest rate instruments<br />
Interest rate swap - 2014 (EUR), receiver 1)<br />
7,017<br />
5<br />
(8)<br />
(0)<br />
0<br />
0<br />
(2)<br />
(1)<br />
(0)<br />
(2)<br />
(0)<br />
1,243 30<br />
5<br />
(3)<br />
-<br />
0<br />
(0)<br />
(2)<br />
-<br />
(0)<br />
-<br />
(0)<br />
-<br />
(5)<br />
(0)<br />
0<br />
-<br />
-<br />
(1)<br />
-<br />
(2)<br />
0<br />
(13) (5) (8)<br />
Total financial instruments 22 30 (8)<br />
Hedging of net investments in foreign subsidiaries<br />
at 31 December 2005<br />
AUD 245<br />
CHF 250<br />
EUR 4,651<br />
GBP 465<br />
NOK 384<br />
SEK 27<br />
USD-related 378<br />
Others 765<br />
30<br />
Net<br />
investments<br />
in foreign<br />
subsidiaries Hedging<br />
7,165<br />
(369)<br />
(209)<br />
(2,611)<br />
(467)<br />
(224)<br />
-<br />
(221)<br />
(70)<br />
(4,171)<br />
-<br />
Net<br />
investments<br />
with trans-<br />
lation risk<br />
(124)<br />
41<br />
2,040<br />
(2)<br />
160<br />
27<br />
157<br />
695<br />
2,994<br />
<strong>2006</strong><br />
<strong>2006</strong><br />
<strong>2006</strong><br />
<strong>2006</strong><br />
<strong>2006</strong><br />
<strong>2006</strong><br />
<strong>2006</strong><br />
<strong>2006</strong><br />
<strong>2006</strong><br />
2014<br />
Net<br />
investments<br />
with trans-<br />
lation risk,<br />
local<br />
currency,<br />
millions<br />
1) The swap converts one-third of the fixed interest rate on the EUR 500 million bond loan into a floating rate. The income of DKK 30 million offsets a similar<br />
expense in the income statement related to the bond loan. Of this amount DKK 27 million represented the positive marked-to-market value of the interest<br />
rate swap.<br />
_____________________________________________________________________________________________________________<br />
ANNUAL REPORT <strong>2006</strong> / Consolidated Financial Statements<br />
92<br />
(27)<br />
9<br />
273<br />
(0)<br />
171<br />
34<br />
-<br />
-