Telus 2011 Annual Report Download - page 130

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126 . TELUS 2011 ANNUAL REPORT
Derivative
The Company’s financial instruments that are measured at fair value on a recurring basis in periods subsequent to initial recognition and the level within
the fair value hierarchy used to measure them are as set out in the following table.
Fair value measurements at reporting date using
Quoted prices in active Significant other Significant
markets for identical items observable inputs unobservable inputs
Carrying value (Level 1) (Level 2) (Level 3)
Dec. 31, Dec. 31, Jan. 1, Dec. 31, Dec. 31, Jan. 1, Dec. 31, Dec. 31, Jan. 1, Dec. 31, Dec. 31, Jan. 1,
As at (millions) 2 0 11 2010 2010 2 0 11 2010 2010 2 0 11 2010 2010 2 0 11 2010 2010
Assets
Foreign exchange derivatives $ß 4 $ß – $ß 1 $ß – $ß – $ß – $ß 4 $ß – $ß 1 $ß – $ß – $ß –
Share-based compensation derivatives 13 9 – – – – 13 9 – – – –
$ß17 $ß 9 $ß 1 $ß – $ß – $ß – $ß17 $ß 9 $ß 1 $ß – $ß – $ß –
Liabilities
Foreign exchange derivatives $ß – $ß 2 $ß 2 $ß – $ß – $ß – $ß – $ß 2 $ß 2 $ß – $ß – $ß –
Share-based compensation derivatives – 13 60 – – – – 13 60 – – –
Cross currency interest rate swap derivatives
– 404 721 – – – – 404 721 – – –
$ß – $ß419 $ß783 $ß – $ß – $ß – $ß – $ß419 $ß783 $ß – $ß – $ß –
The Company’s derivative financial instruments that are measured at fair value on a recurring basis subsequent to initial recognition are as set out
in the following table.
As at (millions) December 31, 2011 December 31, 2010 January 1, 2010
Maximum Notional Carrying Fair Notional Carrying Fair Notional Carrying Fair
maturity date amount amount value amount amount value amount amount value
Current Assets
Derivatives designated as held for trading
upon initial recognition and used to
manage currency risks arising from
U.S. dollar revenues to which hedge
accounting is not applied 2012 $ß26 $ß – $ß – $ß48 $ß – $ß – $ß23 $ß 1 $ß 1
Derivatives(1) designated as held for hedging(2)
upon initial recognition and used to
manage currency risks arising from
U.S. dollar denominated purchases 2012 $ß89 3 3 $ß – – – $ß – – –
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 2012 $ß50 1 1 $ß – – – $ß – – –
Derivatives(1) used to manage changes in
share-based compensation costs and
classified as held for hedging(2) (Note 13(c))
2012 $ß20 10 10 $ß14 4 4 $ß – – –
$ß14 $ß14 $ß 4 $ß 4 $ß 1 $ß 1
Other Long-Term Assets
Derivatives(1) used to manage changes in
share-based compensation costs and
classified as held for hedging(2) (Note 13(c))
2013 $ß22 $ß 3 $ß 2 $ß15 $ß 5 $ß 4 $ß12 $ß – $ß –
Deduct: Net amounts due to counterparties
in respect of derivatives used to manage
changes in share-based compensation
costs and classified as held for hedging (1) (1) –
$ß 2 $ß 2 $ß 4 $ß 4 $ß – $ß –