DHL 2009 Annual Report Download - page 197

Derivative fi nancial instruments
 e following table gives an overview of the derivatives used
in the Group and their fair values. Derivatives with amortising no-
tional volumes are reported in the full amount at maturity.
Derivative fi nancial instruments
 m
2008 2009
Fair values 2009 according to maturity
Assets Liabilities
Notional
amount Fair value
Notional
amount
Fair value
of assets
Fair
value of
liabilities
Total
fair value
Less
than
1
year
Up
to 2
years
Up
to 3
years
Up
to 4
years
Up
to 5
years
> 5
years
Less
than
1
year
Up
to 2
years
Up
to 3
years
Up
to 4
years
Up
to 5
years
> 5
years
Interest rate products
Interest rate swaps 1,197 – 8 1,182 75 –24 51 0 0 49 0 26 0 0 0 0 0 0 –24
of which cash fl ow hedges 354 – 42 340 18 –24 – 6 000018000000–24
of which fair value hedges 843 34 842 57 0 57 0 0 49 0 8 0 0 0 0 0 0 0
of which held for trading 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
1,197 – 8 1,182 75 –24 51 0 0 49 0 26 0 0 0 0 0 0 –24
Currency derivatives
Currency forwards 5,927 –284 2,423 9 – 49 – 40 9 0 0 0 0 0 –35 – 9 – 4 –1 0 0
of which cash fl ow hedges 961 27 737 3 –31 –28 3 0 0 0 0 0 –17 – 9 – 4 –1 0 0
of which net investment
hedges 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
of which held for trading 4,966 –311 1,686 6 –18 –12 6 0 0 0 0 0 –18 0 0 0 0 0
Currency options 460 11 275 4 –3 1 4 0 0 0 0 0 –3 0 0 0 0 0
of which cash fl ow hedges 460 11 275 4 –3 1 4 0 0 0 0 0 –3 0 0 0 0 0
Currency swaps 4,604 183 2,079 17 –21 – 4 17 0 0 0 0 0 –19 –2 0 0 0 0
of which cash fl ow hedges 261 23 169 0 – 4 – 4 0 0 0 0 0 0 –2 –2 0 0 0 0
of which held for trading 4,343 160 1,910 17 –17 0 17 0 0 0 0 0 –17 0 0 0 0 0
Cross-currency swaps 269 –28 240 10 –21 –11 0 0 0 0 10 0 0 –7 –14 0 0 0
of which cash fl ow hedges 193 – 9 183 10 –7 3 0 0 0 0 10 0 0 –7 0 0 0 0
of which fair value hedges 76 –19 57 0 –14 –14 0 0 0 0 0 0 0 0 –14 0 0 0
of which held for trading 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
11,260 –118 5,017 40 – 94 – 54 30 0 0 0 10 0 – 57 –18 –18 –1 0 0
Transactions based on
commodity prices
Commodity swaps 0 0 16 1 0 1100000000000
of which cash fl ow hedges 0 0 16 1 0 1100000000000
Transactions based on
share price
Stock options 0 0 2,596 669 –22 647 0 0 669 0 0 0 0 0 –22 0 0 0
of which held for trading 0 0 2,596 669 –22 647 0 0 669 0 0 0 0 0 –22 0 0 0
Some of the hedging transactions entered into in  for
internal  nancing and investments were extended in . As only
the net positions were extended, the notional volume of the cor-
responding currency-related hedging transactions signi cantly
dropped against  December .
 e put and call options on the shares of Deutsche Postbank 
are recognised in the stock option account. Due to  . (g) the
forward was not to be recognised.
Deutsche Post DHL Annual Report 
180