Loreal 2011 Annual Report Download - page 167

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165REGISTRATION DOCUMENT − L’ORÉAL 2011
2011 parent company Financial Statements
5
Notes to the parent company  nancial statements
NOTE22 Unrealised exchange gains and losses
The revaluation of foreign currency receivables and payables at the exchange rates prevailing at December31st, taking account of
the related hedging instruments, led to the recognition of the following unrealised exchange gains and losses:
€ millions
Unrealised exchange losses Unrealised exchange gains
12.31.2011 12.31.2010 12.31.2009 12.31.2011 12.31.2010 12.31.2009
Financial receivables 6.1 5.9 5.3 - - -
Trade accounts receivable 0.1 0.6 0.6 2.9 0.8 1.2
Borrowings and debt 6.2 - 0.2 6.1 0.2 -
Trade accounts payable 3.5 0.4 1.4 0.1 1.0 0.2
Other payables ----1.10.4
Derivative financial instruments 2.1 2.9 5.1 2.2 2.9 4.2
Total 18.0 9.8 12.6 11.3 6.0 6.0
In accordance with the accounting principles described
above, the overall foreign exchange position at December31st,
2011 is an unrealised loss of €6.7million arising mainly on the
Venezuelan bolivar. This loss was recognised through profit
and loss. At December31st, 2010, the overall foreign exchange
position was an unrealised loss of €3.8million compared with
an unrealised loss of €6.6million recognised through profit and
loss at December31st, 2009.