|
|
 |
|
| |
Note 21 Fair Value of Open Financial Instruments
| As at 31 December | |||||
| Nominal Value | Fair Value | ||||
| EUR million | 2003 | 2004 | 2003 | 2004 | |
| Interest Rate Derivatives | |||||
| Interest rate swap agreements | 1 945.8 | 2 763.7 | 108.7 | 140.9 | |
| Interest rate options | 23.8 | 198.4 | 0.5 | 1.1 | |
| 1 969.6 | 2 962.1 | 109.2 | 142.0 | ||
| Foreign Exchange Derivatives | |||||
| Forward agreements | 4 491.3 | 3 677.9 | 61.3 | -96.0 | |
| Cross currency swap agreements | 129.4 | 102.7 | -11.0 | -11.6 | |
| Currency options | 208.1 | 668.5 | 0.7 | 1.4 | |
| 4 828.8 | 4 449.1 | 51.0 | -106.2 | ||
| Commodity Derivatives | 879.1 | 814.1 | 18.5 | 3.5 | |
| Equity Swaps | 308.4 | 359.5 | -36.0 | -11.4 | |
The fair value of a derivative represents the result to date, being the movement away from the par nominal value.
This page was printed from www.storaenso.com