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Financial risk management (Tables)
 12 Months Ended
Dec. 31, 2012
Financial risk management [Abstract]  
Financial Instruments
                                 

As of December 31

(in thousands)

  

 

2012

Notional

amount

EUR

    

Fair Value

EUR

    

2011

Notional

amount

EUR

    

Fair Value

EUR

  

 

  
         

Forward foreign exchange contracts1

                         262,146                           16,805                           389,579                           (23,999)  

Interest rate swaps 2

 

     624,900       124,050       641,500       109,991  

 

1 Relates to forward contracts assigned as a hedge to forecasted sales and purchase transactions and to monetary assets and liabilities, mainly in U.S. dollar and Japanese Yen.
2 Relates to interest rate swaps assigned as a hedge to interest bearing assets and liabilities, mainly related to the Eurobond; the fair value of the interest rate swaps includes accrued interest.
Derivative financial instruments per category
                                         
         

 

2012

          2011  

As of December 31

(in thousands)

       Assets
EUR		     Liabilities
EUR		        

Assets

EUR

     Liabilities
EUR		  

 

  
             

Interest rate swaps - cash flow hedges

         -       4,780           -       3,933  

Interest rate swaps - fair value hedges

                 128,830       -           113,924       -  

Forward foreign exchange contracts - cash flow hedges

         5,975       5,688           11,332       3,019  

Forward foreign exchange contracts - other hedges (no hedge accounting)

         16,943       425           1,095       33,407  

 

  

Total

         151,748                 10,893                     126,351                 40,359  
             

Less non-current portion:

                                        

Interest rate swaps - cash flow hedges

         -       4,032           -       3,210  

Interest rate swaps - fair value hedges

         101,651       -           92,534       -  

 

  

Total non-current portion

         101,651       4,032           92,534       3,210  

 

  
             

Total current portion

 

         50,097       6,861           33,817       37,149