Telstra 2013 Annual Report Download - page 145
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NOTES TO THE
FINANCIAL STATEMENTS
(CONTINUED)
FINANCIAL STATEMENTS
Telstra Corporation Limited and controlled entities Telstra Annual Report 2013 143
(c) Hedge relationships (continued)
Table K describes our hedge relationships where offshore loans
and promissory notes are used as the hedging instruments.
Outlined in the following table is the pre hedge underlying exposure,
the face value of the hedging instruments and the end post hedge
position and is represented in our residual economic position as
described in note 17, Table D.
(i) Amount hedged represents portion of carrying value of net
assets.
(ii) At 30 June 2013 the face value in Australian dollars of offshore
loans hedging net foreign investments was nil (2012: $200 million)
and the face value in Australian dollars of promissory notes hedging
net foreign investments was nil (2012: $277 million). We disposed
of our investment in TelstraClear on 31 October 2012. Refer to note
20 for further details.
18. FINANCIAL RISK MANAGEMENT (CONTINUED)
Table K Non-derivative hedging instruments
Face value
Hedged amount (i) Offshore loans and promissory notes (ii)
New Zealand dollars
New Zealand dollars
(payable) Australian dollars (payable)
2013 2012 2013 2012 2013 2012
$m $m $m $m $m $m
Net foreign investments
TelstraClear Limited (New Zealand
dollars).. . . . . . . . . . . . . . . . . -609 -(609) -(477)