Telus 2011 Annual Report Download - page 131
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TELUS 2011 ANNUAL REPORT . 127
FINANCIAL STATEMENTS & NOTES: 4
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 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 2011 $ß – $ß – $ß – $ 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 2011 $ß – – – $ 121 1 1 $ 79 – –
Derivatives used to manage changes
in share-based compensation costs
and classified as held for
– Trading (Note 13(b)) 2012 $ß 4 – – $ 60 13 13 $ 130 51 51
– Hedging(1)(2) (Note 13(c)) 2010 $ß – – – $ – – – $ 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 20(b))
2011 $ß – – – $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 –
$ß – $ß – $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 13(c))
2012 $ß – $ß – $ß – $ 4 $ß – $ß – $ – $ß – $ß –
Derivatives(1) classified as held for hedging(2)
and used to manage currency risks
associated with U.S. dollar denominated
debt (Note 20(b)) 2011 $ß – – – $ – – – $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 – $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.