Audi 2010 Annual Report Download - page 227

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Assignment to IAS 39 categories Division into classes of IFRS 7
Financial liabilities
measured at
amortized cost No IAS 39 category allocated
Measured at fair value
Measured at
amortized cost Not under scope of IFRS 7
Level 1 Level 2 Level 3
– – – – – 190 –
– 345 –347 70 – –
– 18 –––114 18
– – – – – 2,099 –
– 136 –210 0– –
– 220 –––2,228 220
– –1,339 ––– –
– – – – – 10,724 –
– 719 1,339 557 71 15,355 238
15 – – – – 15 –
– 204 –206 24 – –
22 461 –––22 461
810 – – – – 810 –
3,510 – – – – 3,510 –
– 185 –188 103 – –
2,510 1,646 –––2,510 1,646
6,866 2,496 –394 127 6,866 2,107
In the Audi Group, level 3 mainly covers residual value hedging arrangements with the retail trade.
The input factors for measuring the future development of used car prices cannot be observed
on active markets; they are forecasted by various independent institutions. The residual value
hedging model is explained in Note 34.3, “Market risks.”
Furthermore, non-current commodity futures are also measured according to level 3, as the key
parameters for their measurement cannot be observed on active markets owing to the long-term
nature of the contracts, but are extrapolated. Additionally, rights to acquire shares in companies
are also assigned to fair value level 3, where input factors that are not derived from active markets
can be used for measurement.
The fair values of financial assets within the “measured at amortized cost” category amount to
EUR 15,355 (13,019) million and are indicated in the relevant sections, under the Notes to the
Balance Sheet. The fair values of financial liabilities within the “measured at amortized cost”
category amount to EUR 6,864 (5,282) million and are indicated under the notes to the relevant
Balance Sheet items. In the case of current financial assets and liabilities measured at amortized
cost, the fair values correspond to the carrying amounts.