Toyota 2015 Annual Report Download - page 196
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TOYOTA MOTOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table summarizes the notional amounts of derivative financial instruments as of March 31,
2015 and 2016:
Yen in millions
March 31,
2015 2016
Designated
derivative
financial
instruments
Undesignated
derivative
financial
instruments
Designated
derivative
financial
instruments
Undesignated
derivative
financial
instruments
Interest rate and currency swap agreements ............. 85,561 18,634,479 41,016 18,312,359
Foreign exchange forward and option contracts .......... — 2,625,106 — 2,742,102
Total ....................................... 85,561 21,259,585 41,016 21,054,461
The following table summarizes the gains and losses on derivative financial instruments and hedged items
reported in the consolidated statements of income for the years ended March 31, 2014, 2015 and 2016:
Yen in millions
For the years ended March 31,
2014 2015 2016
Gains or
(losses) on
derivative
financial
instruments
Gains or
(losses) on
hedged items
Gains or
(losses) on
derivative
financial
instruments
Gains or
(losses) on
hedged items
Gains or
(losses) on
derivative
financial
instruments
Gains or
(losses) on
hedged items
Derivative financial instruments
designated as hedging instruments
Interest rate and currency swap
agreements
Cost of financing
operations ............ (2,719) 3,106 (15,488) 15,595 (133) 122
Undesignated derivative financial
instruments
Interest rate and currency swap
agreements
Cost of financing
operations ............ 199 (57,015) 119,096
Foreign exchange gain
(loss), net ............. (2,862) 6,459 (379)
Foreign exchange forward and
option contracts
Cost of financing
operations ............ 20,333 31,738 (16,363)
Foreign exchange gain
(loss), net ............. (930) (4,108) 115,256
Undesignated derivative financial instruments are used to manage economic risks of fluctuations in foreign
currency exchange rates and interest rates of certain receivables and payables. Those economic risks are offset by
changes in the fair value of undesignated derivative financial instruments.
F-55