Porsche 2009 Annual Report Download - page 236

236 Financials
Under the dollar offset method, the changes in value of the hedged item expressed in mo-
netary units are compared with the changes in value of the hedging instrument expressed in mone-
tary units.
Where regression analysis is used, the change in value of the hedged item is presented as
an independent variable, and that of the hedging instrument as a dependent variable. Currency
transactions were classified as effective hedge relationships if they had sufficient coefficients of
determination and slope factors.
The table below shows the notional amounts of derivative financial instruments used for hedging
purposes as well as of derivative financial instruments not used for hedging purposes:
Hedge accounting was not applied for the share price hedging strategy that was pursued in
the prior year but abandoned in the reporting period. As a result of the sale of stock options shortly
after the prior-year reporting date, the notional amounts of the stock price derivatives both on the
assets and liabilities side, relating to continuing operations, decreased to €1,579 million.
In the prior year the hedged items in cash flow hedges of the discontinued operations were
expected to be realized largely in accordance with the maturity buckets of the hedges reported in
the table.
Notional amount Total
notional
Due Due Due amount
€ million
within one
year
in one to five
years
in more than
five years
31/7/2010
Currency derivatives 0 0 0 0
Interest derivatives 5,000 2,000 0 7,000
Commodity futures contract 0 0 0 0
Stock price derivatives with positive carrying amount 469 0 0 469
Stock price derivatives with negative carrying amount 469 0 0 469
Put and call option 0 7,786 7,786
5,938 9,786 0 15,724
31/7/2009
Currency derivatives 25,441 29,832 50 55,323
Interest derivatives 17,166 39,134 2,114 58,414
Commodity futures contract 463 867 33 1,363
Stock price derivatives with positive carrying amount 8,575 0 0 8,575
Stock price derivatives with negative carrying amount 8,575 0 0 8,575
Put and call option 0 0 0 0
60,220 69,833 2,197 132,250
thereof continuing operations 17,093 0 0 17,093