BMW 2006 Annual Report Download - page 107
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106 Group Financial Statements
65 Group Financial Statements
65 Income Statements
66 Balance Sheets
68 Cash Flow Statements
70 Group Statement of
Changes in Equity
71 Statement of Income and
Expenses recognised directly
in Equity
72 Notes
72 – Accounting Principles
and Policies
79 – Notes to the Income Statement
86 – Notes to the Balance Sheet
104 – Other Disclosures
111 – Segment Information
These interest rates were adjusted, where
necessary, to take account of the credit quality and
risk of the underlying financial instrument.
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
carrying amounts) and maturities of derivative finan-
cial instruments of the BMW Group are shown in
the following analysis:
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.
The currency hedge contracts comprise princi-
pally options and forward currency contracts which
are designated as a cash flow hedge. The interest
rate contracts 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 and available-for-
in euro million Nominal Fair values
amount
Total due within due between duelater
one year one and than
five years five years
31 December 2006
Assets
Currency hedge contracts 15,567 618 572 46 –
Interest rate contracts 13,411 658 55 468 135
Other derivative instruments 172 45 39 6 –
Total 29,150 1,321 666 520 135
Liabilities
Currency hedge contracts 9,350 427 269 158 –
Interest rate contracts 3,479 73 10 63 –
Other derivative instruments 209 96 – 96 –
Total 13,038 596 279 317 –
31 December 2005
Assets
Currency hedge contracts 6,378 270 163 107 –
Interest rate contracts 11,975 488 41 315 132
Other derivative instruments 209 48 21 27 –
Total 18,562 806 225 449 132
Liabilities
Currency hedge contracts 14,509 361 154 207 –
Interest rate contracts 5,792 36 2 13 21
Other derivative instruments 561 453 – 453 –
Total 20,862 850 156 673 21