Telus 2010 Annual Report Download - page 140
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136 . TELUS 2010 annual report
As at December 31 (millions) 2010 2009
Maximum Notional Carrying Notional Carrying
maturity date amount amount Fair value amount amount Fair value
Current Liabilities
Derivatives designated as held for trading
upon initial recognition and used to
manage currency risks arising from
U.S. dollar denominated purchases
to which hedge accounting is not applied 2 011 $ 140 $ß 1 $ß 1 $ 102 $ß 2 $ß 2
Derivatives(1) designated as held for hedging(2)
upon initial recognition and used to
manage currency risks arising from
U.S. dollar denominated purchases 2 011 $ 121 1 1 $ 79 – –
Derivatives used to manage changes
in share-based compensation
costs and classified as held for
– Trading (Note 12(b)) 2012 $ 60 13 13 $ 130 51 51
– Hedging(1)(2) (Note 12(c)) 2010 $ – – – $ 26 9 9
Current amount of derivatives(1) classified
as held for hedging(2) and used to manage
currency risks associated with U.S. dollar
denominated debt (Note 18(b)) 2 011 $ß1,133 404 407 $ – – –
419 62
Add: Interest payable in respect of derivatives
used to manage currency risks associated
with U.S. dollar denominated debt and
classified as held for hedging 3 –
$ß422 $ß422 $ß 62 $ß 62
Other Long-Term Liabilities
Derivatives(1) used to manage changes
in share-based compensation
costs and classified as held for
hedging(2) (Note 12(c)) 2012 $ß 4 $ß – $ß – $ – $ß – $ß –
Non-current amount of derivatives(1) classified
as held for hedging(2) and used to manage
currency risks associated with U.S. dollar
denominated debt (Note 18(b)) 2 011 $ – – – $ß2,064 721 726
– 721
Add: Interest payable in respect of derivatives
used to manage currency risks associated
with U.S. dollar denominated debt and
classified as held for hedging – 5
$ß – $ß – $ß726 $ß726
(1) Designated as cash flow hedging items.
(2) Hedge accounting is applied to derivatives that are designated as held for hedging.
Non-derivative: The Company’s long-term debt, which is measured at amortized cost, and the fair value thereof, is as set out in the following table.
As at December 31 (millions) 2010 2009
Carrying Carrying
amount Fair value amount Fair value
Long-term debt $ß6,056 $ß6,590 $ß6,172 $ß6,656