BMW 2004 Annual Report Download - page 97
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Group Financial Statements 50
Income Statements 51
Balance Sheets 52
Cash Flow Statements 54
Group Statement of
Changes in Equity 56
Notes 57
--Accounting Principles
and Policies 57
--Notes to the Income Statement 66
--Notes to the balance sheet 74
--Other Disclosures 93
--Segment Information 100
--Disclosures pursuant to
§292a HGB
104
Auditors’ Report 107
96
The nominal amounts of derivative financial
instruments correspond to the purchase or sale
amounts or contract values of the underlying trans-
actions.The nominal amounts, fair values (and also
The disclosed fair values of derivative financial
instruments, based on their nominal amounts, do
not take account of any compensating changes in
the value of the underlying transaction. Moreover,
the fair values disclosed do not necessarily corre-
spond to the amounts which the BMW Group will
realise in the future under the market conditions pre-
vailing at that time.
carrying amounts) and maturities of derivative finan-
cial instruments of the BMW Group are shown in the
following analysis:
The currency hedge contracts comprise princi-
pally forward currency contracts which are desig-
nated as a cash flow hedge. The interest rate con-
tracts include swaps which are accounted for on the
basis of whether they are designated as a fair value
hedge or as a cash flow hedge.
The fair values of financial instruments relating
to hedged forecast transactions are recognised
in euro million Nominal Fair values
amount
To t a l
due within due between due later than
one year one and five years
five years
31 December 2004
Assets
Currency hedge contracts 13,833 1,844 1,390 453 1
Interest rate contracts 9,608 813 124 495 194
Other derivative financial instruments 114 17 8 9 –
Total 23,555 2,674 1,522 957 195
Liabilities
Currency hedge contracts 3,189 237 124 91 22
Interest rate contracts 7,043 38 8 27 3
Other derivative financial instruments 646 107 105 2 –
Total 10,878 382 237 120 25
31 December 2003
Assets
Currency hedge contracts 16,877 2,957 1,824 1,090 43
Interest rate contracts 9,217 567 65 146 356
Other derivative financial instruments 600 19 12 – 7
Total 26,694 3,543 1,901 1,236 406
Liabilities
Currency hedge contracts 3,169 190 102 88 –
Interest rate contracts 5,527 108 52 43 13
Other derivative financial instruments 639 74 65 – 9
Total 9,335 372 219 131 22