52 / 56
NOTES
BRUNVOLL HOLDING AS / BRUNVOLL HOLDING GROUP
Note 14 - Cash flow hedges
The Group has entered into cash flow hedges resulting in net sales of currency against Norwegian kroner,
which are distributed as follows by currency and quarter:
Outstanding forward contracts at 31 December 2015
Currency
Currency Amount
Q1 2016
EUR
3 900 000
Q1 2016
USD
3 000 000
Q2 2016
EUR
3 200 000
Q2 2016
USD
10 690 000
Q3 2016
EUR
3 300 000
Q3 2016
USD
1 102 500
Q4 2016
EUR
3 550 000
Q4 2016
USD
200 000
Q1 2017
USD
1 102 500
The fair value of these hedges is not recognized, but at 31 December 2015 there was an unrealized loss of
NOK 17 991 590 for hedges that mature in 2016 and NOK 345 622 for hedges that mature in 2017.
52
Annual Report 2015