Porsche 2009 Annual Report Download - page 243

243
The following table shows gains and losses resulting from hedges.
In discontinued operations, the ineffective portion of cash flow hedges represented the in-
come and expenses from changes in the fair value of hedging instruments exceeding the change in
fair value of hedged items, for which, however, the effectiveness within the acceptable range of
80% to 125% could be demonstrated. In the prior year and in the reporting period until the date of
deconsolidation, such income or expenses are recognized directly in other operating income and
other operating expenses of the discontinued operations; both of these items were reclassified to
profit or loss from discontinued operations.
Amounts removed from the cash flow hedge reserve and from the reserve for available-for-
sale securities were reclassified to profit or loss after tax from discontinued operations until the
date of deconsolidation in the reporting period and in the prior year as they are allocable in their
entirety to discontinued operations. This is presented in note [25].
In the prior year the amount reclassified also contained transfers from the cash flow hedge
reserve for foreign currency hedges which were no longer accounted for as cash flow hedges be-
cause the hedged item ceased to exist. These had a notional amount of €2,870 million in the prior
year and contained a notional amount of €979 million due in more than one year. The remaining
amount fell due in the fiscal year 2008/09 or in the short term.
For cash flow hedge accounting purposes in discontinued operations in the prior year, hed-
ged future cash flows of the following five fiscal years were considered.
In discontinued operations, the gain or loss and cash flow were generally realized within the
same period.
2010 2009
thereof
€ million
continuing
operations
Hedging instruments used in fair value hedges 0 – 362 0
Hedged items used in fair value hedges 0 307 0
Ineffective portion of cash flow hedges 0 7 0