Audi 2013 Annual Report Download - page 267

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
ADDITIONAL DISCLOSURES
CONSOLIDATED FINANCIAL STATEMENTS
264
B
36.4 / RECONCILIATION STATEMENT FOR DERIVATIVE FINANCIAL INSTRUMENTS
MEASURED ACCORDING TO LEVEL 3
EUR million 2013 2012
Positive fair values of level 3 derivative financial instruments as of January 1 103 102
Income (+) and expense (–) recognized in the operating profit – +9
Income (+) and expense (–) recognized in the financial result –62 +3
Income (+) and expense (–) recognized in other comprehensive income –1 0
Settlements –8 –
Transfer from level 3 to level 2 –3 –12
Positive fair values of level 3 derivative financial instruments
as of December 31 30 103
Income (+) and expense (–) r zed in the operati ofit from level 3
derivative financial instruments still held at December 31 – +13
Income (+) and expense (–) r zed in the financial result from level 3
derivative financial instruments still held at December 31 –62 –1
EUR million 2013 2012
Negative fair values of level 3 derivative financial instruments as of January 1 20 49
Income (–) and expense (+) recognized in the operating profit – +3
Income (–) and expense (+) recognized in the financial result +180 +2
Income (–) and expense (+) recognized in other comprehensive income +6 –1
Settlements –20 –19
Transfer from level 3 to level 2 –10 –15
ative fair values of level 3 derivative financial instruments
as of December 31 176 20
Income (–) and expense (+) r zed in the operati ofit from level 3
derivative financial instruments still held at December 31 – +24
Income (–) and expense (+) r zed in the financial result from level 3
derivative financial instruments still held at December 31 +180 0
The residual value hedging model is categorically allocated to
level 3. The reclassifications from level 3 to level 2 contain com-
modity futures for whose measurement it is no longer neces-
sary to extrapolate the exchange rates because these can now
be observed again on the active market.
The effects of changes in the market price of used cars result-
ing from hedging arrangements are shown in detail under
Note 37.4, “Market risks.”
Risks resulting from fair value fluctuations in the derivative
financial instruments measured according to level 3 are calcu-
lated within the Audi Group by means of sensitivity analyses.
In this way, effects of changes in commodity price listings on
profit and equity are shown. A 10 percent rise or fall in the
commodity prices of commodity futures measured according
to level 3 at December 31, 2013 would impact either positively
or negatively on the other comprehensive income in the amount
of EUR 3 (5) million. The positive or negative effect on profit
after tax of such a rise or fall would be EUR 2 (1) million.