Mercedes 2010 Annual Report Download - page 233
Download and view the complete annual report
Please find page 233 of the 2010 Mercedes annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223 -
224 -
225 -
226 -
227 -
228 -
229 -
230 -
231 -
232 -
233 -
234 -
235 -
236 -
237 -
238 -
239 -
240 -
241 -
242 -
243 -
244
-
245
-
246
-
247
-
248
-
249
-
250
-
251
-
252
-
253
-
254
-
255
-
256
-
257
-
258
-
259
-
260
 |
 |
Consolidated Financial Statements | Notes to the Consolidated Financial Statements | 229
Total interest income and total interest expense
Total interest income and total interest expense for financial
assets or financial liabilities that are not measured at fair value
through profit or loss are structured as follows:
2010 2009
In millions of euros
Total interest income 2,881 2,983
Total interest expense -2,322 -2,943
Please refer to Note 1 for qualitative descriptions of accounting for
financial instruments (including derivative financial instruments).
Information on derivative financial instruments
Use of derivatives. The Group uses derivative financial in-
struments for hedging interest rate risks, currency risks and
commodity price risks. For these purposes the Group mainly
uses currency forward transactions, cross currency interest rate
swaps, interest rate swaps, options and commodity forwards.
Fair values of hedging instruments. The table below shows
the fair values of hedging instruments:
At December 31,
2010 2009
In millions of euros
Fair value hedges 240 425
Cash flow hedges -282 441
Fair value hedges. The Group uses fair value hedges primarily
for hedging interest rate risks.
The changes in fair value of these hedging instruments and the
offsetting changes in the value of underlying transactions are as
follows:
2010 2009
In millions of euros
Net losses from hedging instruments -66 -31
Net gains from underlying transactions 67 53
These figures also include the portions of derivative financial
instruments excluded from the hedge effectiveness test and the
ineffective portions.
Cash flow hedges. The Group uses cash flow hedges for hedging
currency risks, interest rate risks and commodity price risks.
Unrealized pre-tax gains and losses on the measurement of
derivatives, which are recognized in equity without an effect on
earnings, are as follows:
2010 2009
In billions of euros
Unrealized losses 1.0 .
Reclassifications of pre-tax gains/losses from equity to the
statement of income/loss are as follows:
2010 2009
In millions of euros
Revenue -265 707
Cost of sales 11 -63
Interest income ––
Interest expense -37 -230
-291 414