Porsche 2012 Annual Report Download - page 216

Financials
Notes to the consolidated fi nancial statements
This was partly offset by the accounting for the investment in Volkswagen AG at equity, as
the accounting for the options at the level of Volkswagen AG had an reverse effect on the pro
rata profit/loss attributable to Porsche SE in accordance with its share in capital held in
Volkswagen AG.
5 Measurement of financial instruments
The table below contains the notional amounts of the derivative financial instruments both on
the assets and the liabilities side:
Hedge accounting is not applied for derivative financial instruments. In the prior year, the
notional amounts of options on non-stock company shares contained at €3,943 million the put
option and in the same amount the call option relating to the shares in Porsche Holding Stuttgart
GmbH remaining at Porsche SE until the contribution of the holding business operations.
Market values of the derivatives were determined using market data as of the reporting date
and, where no market data are available, also using suitable valuation techniques.
The market value of financial instruments is determined by reference to stock market listings,
reference prices or generally accepted valuation techniques such as the discounted cash flow
method. The underlying interest and discount rates were determined based on the EURIBOR.
Notional amount Total
notional
Due Due Due amount
€ million
within one
year
in 1 to 5
years
in more than
five years
31/12/2012
Options on non-stock company shares 0 0 0 0
0 0 0 0
31/12/2011
Options on non-stock company shares 0 7,886 0 7,886
0 7,886 0 7,886
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