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Software AG GB 2012, englisch

SOFTWARE AG | ANNUAL REPORT 2012 224 The table below shows the notional amounts, the carrying amounts, and the fair values of derivative finan- cial instruments as of December 31, 2012 and December 31, 2011. The fair values of forward currency contracts are determined on the basis of forward foreign exchange rates. The fair values of stock options and equity forward contracts used to hedge the performance phantom share plan as well as the fair values of interest rate hedges are based on market prices, which reflect the current market situation and are equivalent to the replacement costs as of the balance sheet date. Fair values are determined based on the second level of fair value hierarchy in accordance with IFRS 7. in €thousands 2012 2011 Notional amount Fair value Carrying amountt Notional amount Fair value Carrying amount Derivatives with positive fair value Derivatives (without qualifying hedging relationship) – 1,780 1,780 0 1,542 1,542 Forward currency contracts remaining term < 1 year 3,000 96 96 387 0 0 Forward currency contracts remaining term > 1 year 0 0 0 3,000 43 43 Stock options/equity forward contracts 10,040 1,684 1,684 4,420 1,498 1,498 Derivatives with negative fair value Forward currency contracts remaining term < 1 year – -1,123 -1,123 0 -2,140 -2,140 Forward currency contracts remaining term > 1 year 10,963 -190 -190 30,548 -195 -195 Stock options/equity forward contracts 5,495 -933 -933 7,437 -1,946 -1,946 Derivatives (cash flow hedges) – -5,357 -5,357 0 -4,439 -4,439 Forward currency contracts 0 0 0 11,599 -258 -258 Interest rate swaps 93,500 -5,357 -5,357 93,500 -4,182 -4,182 The derivative financial instruments are designated to hedge the fair value of recognized assets or liabilities. Changes in the fair value of the hedging instruments are recognized in profit or loss. In addition, the Com- pany has entered into cash flow hedges for forecast transactions. Changes in the fair value of such financial instruments are reported under other reserves.

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