• 
  • Consolidated Balance Sheets
  • Consolidated Statements of income Yeares Ended
  • Consolidated Statements of Comprehensive Income Years Ended
  • Consolidated Statements of Shareholders' Equity
  • Consolidated Statements of Cash Flow Years Ended
  • Notes To the Consolidated Financial Statements
    • 1. Operations
    • 2. Presentation of the Financial Statements and Accounting Practices
    • 3. Critical Accounting Estimates
    • 4. Accounting Pronouncements not yet Adopted
    • 5. First-time Adoption of IFRS
    • 6. Financial Instruments
    • 7. Cash and Cash Equivalents
    • 8. Financial Assets
    • 9. Trade Accounts Receivable, Net
    • 10. Customer and Commercial Financing
    • 11. Collateralized Accounts Receivable and Recourse and Non Recourse Debt
    • 12. Inventories
    • 13. Other Assets
    • 14. Guarantee Deposits
    • 15. Related Party Transactions
    • 16. Property, Plant and Equipment
    • 17. Intangible Assets
    • 18. Financial Liabilities by Category
    • 19. Loans and Financing
    • 20. Trade Accounts Payable
    • 21. Other Payables
    • 22. Contribution from Suppliers
    • 23. Advances from Customers
    • 24. Axes and Payroll Charges Payable and Income Tax Social Contribution
    • 25. Other Provisions
    • 26. Provisions for Contingencies
    • 27. Post-retirement Benefits
    • 28. Shareholders' Equity
    • 29. Stock Compensation
    • 30. Earnings Per Share
    • 31. Employee Profit Sharing-plan
    • 32. Other Operating (expense) Income, Net
    • 33. Revenue and (expenses) by Nature
    • 34. Financial Income (expense)
    • 35. Foreign Exchange Gains (losses), Net
    • 36. Income Taxesincome Taxes
    • 37. Impairment Test
    • 38. Financial Guarantees
    • 39. Financial Instruments
    • 40. Responsibilities and Commitments
    • 41. Insurance (unaudited)
    • 42. Additional Information of Cash Flow
    • 43. Segment Information
    • 44. Events After the Balance Sheet Date
  • Proposal to the Board of Directors
  • ANNUAL REPORT

Notes to the Consolidated Financial Statements
In millions of U.S. dollars, unless otherwise stated

6. FINANCIAL INSTRUMENTS

a) Financial instruments by category:

	12.31.2010
	Note	Cash and cash equivalents	Loans and receivables	Assets measured at fair value through profit or loss	Investments held to maturity	Total
Cash and cash equivalents	7	1,393.1	-	-	-	1,393.1
Financial assets	8	-	-	724.6	61.0	785.6
Trade accounts receivable	9	-	349.3	-	-	349.3
Customer and commercial financing	10	-	70.5	-	-	70.5
Collateralized accounts receivable	11	-	538.2	-	-	538.2
Derivative financial instruments	39	-	-	22.3	-	22.3
		1,393.1	958.0	746.9	61.0	3,159.0

 

	12.31.2009
	Note	Cash and cash equivalents	Loans and receivables	Assets measured at fair value through profit or loss	Investments held to maturity	Total
Cash and cash equivalents	7	1,592.4	-	-	-	1,592.4
Financial assets	8	-	-	935.3	43.4	978.7
Trade accounts receivable	9	-	407.4	-	-	407.4
Customer and commercial financing	10	-	52.7	-	-	52.7
Collateralized accounts receivable	11	-	486.0	-	-	486.0
Derivative financial instruments	39	-	-	24.6	-	24.6
		1,592.4	946.1	959.9	43.4	3,541.8

	01.01.2009
	Note	Cash and cash equivalents	Loans and receivables	Assets measured at fair value through profit or loss	Investments held to maturity	Total
Cash and cash equivalents	7	1,820.7	-	-	-	1,820.7
Financial assets	8	-	-	407.0	42.1	449.1
Trade accounts receivable	9	-	454.7	-	-	454.7
Customer and commercial financing	10	-	121.8	-	-	121.8
Collateralized accounts receivable	11	-	478.6	-	-	478.6
Derivative financial instruments	39	-	-	29.9	-	29.9
		1,820.7	1,055.1	436.9	42.1	3,354.8

b) Credit rating of financial instruments:

	12.31.2010	12.31.2009	01.01.2009
Cash and cash equivalents	1,393.1	1,592.4	1,820.7
Financial assets	785.6	978.7	449.1
Total	2,178.7	2,571.1	2,269.8
Based on external appraisal:
AAA	1,825.4	2,233.3	2,010.8
AA	233.1	220.0	155.7
A	120.2	102.8	102.2
BBB	-	15.0	1.1
Total	2,178.7	2,571.1	2,269.8

	12.31.2010	12.31.2009	01.01.2009
Trade accounts receivable, net	349.3	407.4	454.7
Customer and commercial financing	70.5	52.7	121.8
Collateralized accounts receivable	538.2	486.0	478.6
Total	958.0	946.1	1,055.1
Based on internal appraisal:
Group 1	2.0	36.0	6.4
Group 2	176.4	153.5	163.8
Group 3	779.6	756.6	884.9
Total	958.0	946.1	1,055.1

Group 1 : New customers (less than one year).
Group 2 : Customers (more than one year) impaired.
Group 3 : Customers (more than one year) not impaired.


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