Telstra 2015 Annual Report Download - page 134

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Notes to the Financial Statements (continued)
NOTE 18. FINANCIAL RISK MANAGEMENT (continued)
132 Telstra Corporation Limited and controlled entities
18.3 Hedge relationships (continued)
(a) Forward foreign exchange contracts
Table J summarises the impact of outstanding forward contracts
based on contractual face value amounts, which are formally
designated as hedging instruments or act as an economic hedge
of currency exposures as at 30 June. Hedged exposures include
commercial paper liabilities, highly probable forecast
transactions and foreign currency trade and other liabilities.
The fair value of forward contracts outstanding as at 30 June 2015
was $3 million asset (2014: ($18) million liability).
Table J Telstra Group
Pre hedge
exposure
Forward contract
(pay)/receive
Pre hedge
exposure
Forward contract
(pay)/receive
As at 30 June 2015 As at 30 June 2014
Local currency
Australian
dollars
Average
exchange
rate Local currency
Australian
dollars
Average
exchange
rate
m m $m $ m m $m $
Forward contracts hedging
interest bearing debt
Commercial paper
United States dollars - - - - (250) 250 (278) 0.8998
Loans to and from wholly owned
controlled entities
British pounds sterling (13) 13 (24) 0.5217 (28) 55 (98) 0.5548
Japanese yen 240 (313) 3 94.15 83 (136) 1 94.59
United States dollars (80) 58 (75) 0.7727 (68) 47 (50) 0.9268
New Zealand dollars (1) 1 (1) 1.1079 (1) 1 (1) 1.0871
Hong Kong dollars (26) 26 (4) 5.9997 (8) 4 (1) 7.1738
Forward contracts hedging
forecast payments and other
liabilities
Forecast transactions
United States dollars (569) 274 (358) 0.7646 (289) 138 (154) 0.8993
Euro (4) 2 (3) 0.6851 ----
Philippine peso (5,848) 4,600 (134) 34.28 ----
New Zealand dollars (16) 8 (7) 1.1316 ----
British pounds sterling (1) 1 (1) 0.5007 ----
Indonesian rupiah (166) 166 (4) 48.93 ----
Japanese yen (345) 172 (2) 94.69 ----
Other assets and liabilities -
non-interest bearing
United States dollars (34) 34 (44) 0.7714 (21) 21 (22) 0.9487
Total in Australian dollars (654) (603)