Volvo 2008 Annual Report Download - page 128

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Notes to consolidated fi nancial statements
124
THE VOLVO GROUP
Financial information 2008
Below is a presentation of derivative instruments and options.
Outstanding derivative instruments for dealing with currency
and interest-rate risks related to fi nancial assets and liabilities
Dec 31, 2007 Dec 31, 2008
Notional
amount
Carrying
value
Notional
amount
Carrying
value
Interest-rate swaps
– receivable
position 103,738 2,519 47,441 2,752
– payable
position 47,415 (512) 85,980 (2,038)
Forwards and futures
– receivable
position 21,776 8 19,443 11
– payable
position 24,164 (6) 17,740 (32)
Foreign exchange derivative contracts
– receivable
position 18,521 359 32,671 1,608
– payable
position 19,636 (595) 30,022 (766)
Options purchased
– receivable
position 503 11 1,675 139
– payable
position 503 (11) 428 (26)
Options written
– receivable
position 647 2 42 0
– payable
position 155 0 1,147 (116)
Total 1,775 1,532
Outstanding forward contracts and options contracts for
hedging of currency risk and interest risk of commercial
receivables and liabilities
Dec 31, 2007 Dec 31, 2008
Notional
amount
Carrying
value
Notional
amount
Carrying
value
Foreign exchange derivative contracts
– receivable
position 28,826 3,065 25,712 2,190
– payable
position 31,146 (2,819) 41,773 (4,710)
Options purchased
– receivable
position 1,726 35 3,142 90
– payable
position –– – –
Options written
– receivable
position –– – –
– payable
position 1,382 (15) 3,214 (506)
Subtotal 266 (2,936)
Raw materials derivative contracts
– receivable
position 208 113 85 38
– payable
position 530 (19) 443 (93)
Total 360 (2,991)