Hyundai 2007 Annual Report Download - page 117

Download and view the complete annual report

Please find page 117 of the 2007 Hyundai annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

115
HYUNDAI MOTOR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006
(2) The transactions of currency options and forwards belonging to subsidiaries as of December 31, 2007 consist of the following:
Derivatives Contract amount Period Korean Won Translation into Korean Won Translation into
(In millions) U.S. Dollars (In millions) U.S. Dollars
(In thousands) (In thousands)
Currency option USD 120,000,000 2008.01.29~2008.12.29 731 $779 - $ -
Currency forward EUR 120,000,000 2008.01.23~2008.12.29
USD 820,000,000 2008.01.07~2008.06.30 (2,319) (2,472) (7,888) (8,408)
USD 2,827,220 2008.01.03~2009.06.29
EUR 111,141 2008.01.29~2008.01.31 74 79 - -
Forward exchange EUR 6,000,000 2008.01.28~2008.02.26 (1,525) (1,625) - -
Total (3,039) $(3,239) (7,888) $(8,408)
(3) Some subsidiaries entered into currency swap contract and cross-currency swap contract to hedge the exposure to changes in foreign
exchange rates and interest rates on variable-rate debentures. Due to the currency swap and cross-currency swap transactions, the
maximum period exposed to changes in expected future cash flows is till December 2012. Gains and losses on valuation of derivatives as
of December 31, 2007 are as follows:
Gains (losses) for the term Other comprehensive
income(loss)
Description Contract Korean Won Translation into Korean Won Translation into
amount (In millions) U.S. Dollars (In millions) U.S. Dollars
(In thousands) (In thousands)
Currency swap contract 5,271,231 201,212 $214,466 (70,683) $(75,339)
Cross-currency swap contract 3,741,342 (26,202) (27,928) 3,057 3,258
Total 9,012,573 175,010 $186,538 (67,626) $(72,081)
Gains (losses) for the term Other comprehensive income (loss)