Chrysler 2013 Annual Report Download - page 182

181
Consolidated
Financial Statements
at 31 December 2013
The overall change in Other financial assets (from €519 million at 31 December 2012 to €533 million at 31 December 2013) and in Other
financial liabilities (from €201 million at 31 December 2012 to €137 million at 31 December 2013) is mostly due to fluctuations in exchange
rates, in interest rates and in commodity prices during the year, and to the equity swaps on Fiat S.p.A. and CNH Industrial N.V. ordinary shares,
expired in 2013.
As this item consists principally of hedging derivatives financial instruments, the change in their value is compensated by the change in the
value of the hedged items.
At 31 December 2013 derivatives for trading consisted principally of derivative contracts entered for hedging purposes which do not qualify
for hedge accounting and one embedded derivative in a bond issue in which the yield is determined as a function of trends in the inflation rate
and related hedging derivative, which converts the exposure to floating rate (the total value of the embedded derivative is offset by the value
of the hedging derivative). At 31 December 2012 derivatives for trading also included certain equity swaps on Fiat S.p.A. and CNH Industrial
N.V. shares that expired in 2013.
At 31 December 2013, the notional amount of outstanding derivative financial instruments is as follows:
(€ million) At 31 December 2013 At 31 December 2012
Currency risk management 11,248 10,540
Interest rate risk management 2,546 5,226
Interest rate and currency risk management 1,455 1,118
Commodity price risk management 473 495
Other derivative financial instruments 14 168
Total notional amount 15,736 17,547
At 31 December 2013, the notional amount of Other derivative financial instruments of €14 million (€14 million at 31 December 2012) relates
to the notional amount of the above mentioned embedded derivative and the related hedging derivative. At 31 December 2012 this amount
also included €154 million which was the notional amount of the above mentioned equity swaps.
The following table provides an analysis by due date of outstanding derivatives financial instruments based on their notional amounts:
At 31 December 2013
(€ million)
within
one year
due
between one
and five years
due
beyond
five years Total
Currency risk management 10,446 802 - 11,248
Interest rate risk management 764 1,782 - 2,546
Interest rate and currency risk management - 1,455 - 1,455
Commodity price risk management 450 23 - 473
Other derivative financial instruments - - 14 14
Total notional amount 11,660 4,062 14 15,736