Welcome to LANXESS Annual Report 2012!

Skip to:zur Hauptnavigation,zum Inhaltsbereich,zur Suche

(5) Derivative financial instruments

Derivatives with a total fair value of €44 million (2011: €16 million) are capitalized in the consolidated financial statements of the LANXESS Group for fiscal 2012. Instruments with a negative fair value totaling €14 million (2011: €53 million) are recognized as liabilities.

Derivative Financial Instruments
       
€ million Dec. 31, 2011
       
  Notional amount Positive fair values Negative fair values
       
Forward exchange contracts 2,265 16 (51)
Forward commodity contracts 22 0 (2)
Total derivative financial instruments 2,287 16 (53)
of which current 1,827 8 (40)
of which non-current 460 8 (13)
 
Derivative Financial Instruments
       
€ million Dec. 31, 2012
       
  Notional amount Positive fair values Negative fair values
       
Forward exchange contracts 2,470 44 (14)
Forward commodity contracts 0 0 0
Total derivative financial instruments 2,470 44 (14)
of which current 2,000 28 (10)
of which non-current 470 16 (4)
 

The total notional amount of forward exchange contracts was €2,470 million (2011: €2,265 million), including €2,000 million (2011: €1,805 million) due within one year. The forward commodity contracts in a notional amount of €0 million (2011: €22 million) are due within one year.

Cash flow hedges

As of December 31, 2012, the unrealized gains recorded in other comprehensive income in 2012 or earlier periods from currency hedging contracts that qualify for hedge accounting amounted to €8 million (2011: losses of €25 million). In 2012, a loss of €23 million (2011: gain of €12 million) was reclassified from equity to profit or loss due to the realization of the hedged transactions. Currency hedging contracts concluded to hedge future sales in foreign currencies had a notional value of €945 million (2011: €815 million). As of December 31, 2012, these had positive fair values of €21 million (2011: €1 million) and negative fair values of €8 million (2011: €36 million). Contracts with a total notional amount of €649 million (2011: €583 million) are due within one year. The hedged cash flows will be realized within the next two years.

The LANXESS Group expects that of the unrealized gains (2011: losses) on currency hedges recognized in other comprehensive income in 2012, €3 million will be reclassified from equity to profit or loss in 2013 and €5 million in 2014 (2011: €18 million in 2012 and €7 million in 2013).

As of December 31, 2012 the unrealized losses recognized in other comprehensive income in 2012 or earlier periods from forward commodity contracts that qualified for hedge accounting amounted to €0 million (2011: €1 million). In 2012, a loss of €1 million (2011: gain of €3 million) was reclassified from equity to profit or loss due to the realization of the hedged transactions. Hedging comprised forward commodity contracts with positive fair values of €0 million on December 31, 2012 and negative fair values of €0 million (2011: €2 million). The total notional amount of these hedges was €0 million (2011: €22 million) and they are due within one year. The hedged cash flows will be realized within the next year.

The LANXESS Group expects that of the unrealized losses from forward commodity contracts recognized in other comprehensive income in 2012, €0 million will be reclassifiable from equity to profit or loss in 2013 (2011: € 1 million of unrealized losses reclassifiable in 2012).

Information on the maturity structure of derivative assets and liabilities is given in Note [35].

Service

Key Figure Analyser