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The Right Way Forward Business OverviewPerformance Overview Financial Section
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Annual Report 2009 91
Undesignated derivative fi nancial instruments
Toyota uses foreign exchange forward contracts, foreign curren-
cy options, interest rate swaps, interest rate currency swap
agreements, and interest rate options, to manage its exposure
to foreign currency exchange rate fluctuations and interest rate
fluctuations from an economic perspective, and for which Toyota
is unable or has elected not to apply hedge accounting.
Fair value and gains or losses on derivative fi nancial instruments
The following table summarizes the fair values of derivative financial instruments at March 31, 2009:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2009 2009
Derivative financial instruments designated as hedging instruments
Interest rate and currency swap agreements
Prepaid expenses and other current assets ................................................................................................... ¥ 35,882 $ 365
Investments and other assets—Other ............................................................................................................ 83,014 845
Total ............................................................................................................................................................... ¥ 118,896 $ 1,210
Other current liabilities .................................................................................................................................... ¥ (47,022) $ (479)
Other long-term liabilities ............................................................................................................................... (79,634) (810)
Total ............................................................................................................................................................... ¥(126,656) $(1,289)
Undesignated derivative financial instruments
Interest rate and currency swap agreements
Prepaid expenses and other current assets ................................................................................................... ¥ 58,454 $ 595
Investments and other assets—Other ............................................................................................................ 177,487 1,807
Total ............................................................................................................................................................... ¥ 235,941 $ 2,402
Other current liabilities .................................................................................................................................... ¥ (61,593) $ (627)
Other long-term liabilities ............................................................................................................................... (236,877) (2,412)
Total ............................................................................................................................................................... ¥(298,470) $(3,039)
Foreign exchange forward and option contracts
Prepaid expenses and other current assets ................................................................................................... ¥ 32,443 $ 330
Investments and other assets—Other ............................................................................................................ 250 3
Total ............................................................................................................................................................... ¥ 32,693 $ 333
Other current liabilities .................................................................................................................................... ¥ (25,675) $ (261)
Total ............................................................................................................................................................... ¥ (25,675) $ (261)
The following table summarizes the notional amounts of derivative financial instruments at March 31, 2009:
Yen in millions U.S. dollars in millions
March 31, 2009 March 31, 2009
Designated Undesignated Designated Undesignated
derivative derivative derivative derivative
financial financial financial financial
instruments instruments instruments instruments
Interest rate and currency swap agreements .................................................. ¥1,907,927 ¥12,472,179 $19,423 $126,969
Foreign exchange forward and option contracts ........................................... — 1,562,876 — 15,911
Total ................................................................................................................ ¥1,907,927 ¥14,035,055 $19,423 $142,880