Page 296 - 2012 Annual Report

296 VIVENDI l 2012 l Annual Report
FINANCIAL REPORT – CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE
CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS –
STATUTORY FINANCIAL STATEMENTS 4
4
III - CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note 23 Financial instruments and management of financial risks
(in millions of euros)
December 31, 2011
Notional amounts Fair value
Total USD PLN GBP Other Assets Liabilities
Sales against the euro (338) (53) (112) (80) (93) 5 (5)
Purchases against the euro 823 606 40 7 170 36 -
Other - 10 - (10) - - -
485 563 (72) (83) 77 41 (5)
Breakdown by accounting category of foreign currency hedging instruments
Cash flow hedge
Sales against the euro (97) - (65) (9) (23) - (2)
Purchases against the euro 70 69 - 1 - 5 -
Other - - - - - - -
(27) 69 (65) (8) (23) 5 (2)
Fair value hedge
Sales against the euro (54) (6) (47) (1) - 5 -
Purchases against the euro 476 476 - - - 28 -
Other - 21 (11) (10) - - -
422 491 (58) (11) - 33 -
Economic hedging (c)
Sales against the euro (187) (47) - (70) (70) - (3)
Purchases against the euro 277 61 40 6 170 3 -
Other - (11) 11 - - - -
90 3 51 (64) 100 3 (3)
(a) Notably includes the hedge associated with the $550 million bond issued in April 2012, with a 1.3082 EUR/USD rate, or a counter-value of €420 million
at maturity in April 2015.
(b) Mainly includes the hedge associated with the forthcoming sale of EMI Recorded Music assets as of December 31, 2012 (please refer to Note 2.1),
with an average rate of 0.7965 EUR/GBP, for a notional amount of £430 million, or a counter value at maturity of € 533 million.
(c) The economic hedging instruments relate to derivative financial instruments which are not eligible for hedge accounting pursuant to IAS 39.