Porsche 2004 Annual Report Download - page 148
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Notes to the Consolidated Financial Statements
Other
Notes
144
The market value of the financial derivatives is disclosed in the balance sheet under other
receivables and assets or other liabilities. The currency hedges for the Canadian, Australian and
US dollar are due within four years, and those for other currencies within three years. In the fiscal
year 2004/05 there were also stock price hedging options with a market value of T€ 11,093.
As of July 31, 2005, other comprehensive income contains a total of T€ 179,304 (previous
year: T€ 368,067) recorded without effect on income from measurement at market value.
Of the change in measurement at market value recorded in equity of T€ – 188,763 (previous
year: T€ – 41,853), an amount of T€ 21,319 (previous year: T€ 1,345) is due to the increase
in the reserve for the available-for-sale financial assets and T€ – 210,082 (previous year:
T€ – 43,198) to the decrease in the reserve for cash flow hedges. An amount of T€ 250,738
was reclassified in the fiscal year from the reserve for cash flow hedges to the income statement
(previous year: T€ 258,792). The increase came to T€ 40,715 (previous year: T€ 215,649).
The profit on the disposal of available-for-sale securities totaled T€ 7,696 (previous year: T€ 12),
while the loss on the disposal came to T€ 2,808 (previous year: T€ 4,243).
July 31, 2005 July 31, 2004
Nominal Total Nominal Total
volume market value volume market value
T€ T€ T€ T€
Currency hedge 10,729,102 645,645 9,877,413 880,943
Interest hedge 2,001,750 41,943 1,320,595 34,685
12,730,852 687,588 11,198,008 915,628
Currency hedge 341,293 11,298 ––
Interest hedge 96,623 2,092 68,940 14,653
437,916 13,390 68,940 14,653
Assets
Equity and
liabilities