SECTION 1 -

(in € millions)
Financial liabilities at fair value
Currency derivatives
Interest rate derivatives
New Services: Historical Combined Financial Statements and Notes
December, 31, 2009
Financial liabilities at amortized cost 3 679 3 679
Bank borrowings 10 10 10 10
Other borrowings 15 631 646 646 646
Trade payables 140 140 140 140
Vouchers in circulation 2 883 2 883 2 883 2 883
Bank overdrafts 41 41 41 41
Total financial liabilities at December
31, 2009
Bank
overdrafts
* The fair value hierarchies have the following levels:
Other longterm
financial
debt
Balance sheet category Fair value
Vouchers in
circulation
Short-term
financial debt
Trade
payables
Carrying
amount
Level 1
valuation
technique *
Level 2
valuation
technique *
Level 3
Fair value
valuation
of the class
technique *
41 15 2 883 641 140 3 720 3 720 3 720
(a) Level 1: fair value measured by reference to quoted prices (unadjusted) in active markets for identical assets or liabilities;
(b) Level 2: fair value measured by reference to inputs other than quoted prices included within Level 1 that are observable for the asset
or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices);
(c) Level 3: fair value measured by reference to inputs for the asset or liability that are not based on observable data (unobservable
inputs).
For cash and cash equivalents, trade receivables, loans, deposits, restricted cash, held‐to‐maturity investments, as well as for
other borrowings, vouchers in circulation and trade payables, New Services considers their carrying amount to be the best proxy
for market value. The methods used to measure the fair value of mutual fund units and bonds are described in Note 19.
No assets were transferred between fair value measurement levels during the periods presented.
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