Varma - Annual Report 2012

30. Guarantees and liabilities, Parent Company
31 Dec, € million20122011
Contingent liabilities and liabilities not included in the balance sheet
Derivatives
Derivatives for hedging purposes
Currency derivatives
Forward contracts
Underlying instrument, absolute value805.323.1
Underlying instrument, risk-adjusted value-776.5-8.1
Fair value-5.2-0.9
Currency swap contracts
Underlying instrument, absolute value8,129.57,442.0
Underlying instrument, risk-adjusted value-7,982.9-7,401.6
Fair value99.2-275.2
Interest rate derivatives
Forward and futures contracts
Underlying instrument, absolute value19,409.530.6
Underlying instrument, risk-adjusted value-1,660.639.4
Fair value-2.20.8
Option contracts
Bought
Underlying instrument, absolute value16,126.715.0
Underlying instrument, risk-adjusted value-4,610.70.0
Fair value0.4-0.0
Sold
Underlying instrument, absolute value16,126.7
Underlying instrument, risk-adjusted value3,532.5
Fair value-0.2
Credit risk derivatives
Underlying instrument, absolute value753.4504.7
Underlying instrument, risk-adjusted value206.939.0
Fair value0.91.6
Interest rate swap contracts
Underlying instrument, absolute value157.3
Underlying instrument157.3
Fair value0.3
Currency derivatives
Option contracts
Bought
Underlying instrument, absolute value1,592.7164.2
Underlying instrument, risk-adjusted value-414.956.6
Fair value15.5-2.0
Sold
Underlying instrument, absolute value678.5110.7
Underlying instrument, risk-adjusted value-59.3-4.1
Fair value-19.5-0.0
Currency swap contracts
Underlying instrument, absolute value145.2193.2
Underlying instrument, risk-adjusted value-99.7193.1
Fair value9.00.9
Equity derivatives
Forward and futures contracts
Underlying instrument, absolute value127.4202.0
Underlying instrument, risk-adjusted value127.4-111.4
Fair value-0.1-2.6
Option contracts
Bought
Underlying instrument, absolute value534.71,043.5
Underlying instrument, risk-adjusted value25.9270.4
Fair value1.39.1
Sold
Underlying instrument, absolute value579.7102.5
Underlying instrument, risk-adjusted value31.4-6.9
Fair value0.24.6
Other derivatives
Forward and futures contracts
Underlying instrument, absolute value757.6142.1
Underlying instrument, risk-adjusted value285.2111.6
Fair value2.7-2.3
Option contracts
Bought
Underlying instrument, absolute value20.5
Underlying instrument, risk-adjusted value3.5
Fair value-0.3
Sold
Underlying instrument, absolute value20.5
Underlying instrument, risk-adjusted value-9.0
Fair value1.0
Total
Underlying instrument, absolute value65,965.29,973.6
Underlying instrument, risk-adjusted value-11,243.3-6,822.1
Fair value103.0-266.0
The fair values of quoted derivatives have been calculated using the price quoted on the stock exchange. The fair values of other derivatives are based on calculations of market quotes or on estimates of the fair values presented by outside parties.