Volvo 2013 Annual Report Download - page 167
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Below is a presentation of derivative instruments and options
of fi nancial and commercial receivables and liabilities.
Outstanding derivative instruments for dealing
with currency and interest-rate risks related to
fi nancial and commercial assets and liabilities Dec 31, 2013 Dec 31, 2012
SEK M Nominal amount Carrying value Nominal amount Carrying value
Interest-rate swaps
– receivable position 71,495 1,833 64,825 2,507
– payable position 64,790 (1,045) 74,247 (1,169)
Forwards and futures
– receivable position – – – 10
– payable position – – 7,470 (34)
Foreign exchange derivative contracts
– receivable position 47,077 704 25,425 1,144
– payable position 25,437 (118) 19,527 (131)
Options purchased
– receivable position 1,157 5 719 10
– payable position 179 – 74 –
Options written
– payable position 716 (4) 482 (3)
Subtotal 1,375 2,334
Raw materials derivative contracts
– receivable position 182 5 (120) 23
– payable position (190) (55) 467 (84)
Total 1,325 2,273
Hedge accounting – supplementary information
Hedging of currency and interest rate risks on loans
Fair value of the hedge instruments outstanding amounts to SEK 1,405 M
(1,697). Changes in fair value of the loan related to hedge accounting
amounts to negative SEK 1,157 M (negative SEK 1,495). The changes in
the fair value of the hedge instruments outstanding and the changes in
the fair value of the loan are recognized in net fi nancial positions in the
income statement.
163