FORM 20-F/A Brookfield Property Partners L.P. - Brookfield Asset ...

Other derivativesThe following other derivatives have been entered into to manage financial risks and have not been designated ashedges for accounting purposes.At December 31, 2011, the company had a total return swap under which it received the return on a notionalamount of 1.2 million BPO common shares in connection with BPO’s deferred share unit plan. The fair value ofthe total return swap at December 31, 2011 was a gain of $2 million (2010 – loss of $19 million) and a loss of$17 million in connection with the total return swap was recognized in general and administrative expense in theyear then ended (2010 – gain of $6 million).At December 31, 2011, the company had foreign exchange contracts outstanding to swap a €83 million notionalamount to British Pounds (2010 – €83 million). The fair value of these contracts as at December 31, 2011 was nil(2010 – nil) and a gain of $4 million was recognized in investment and other income in connection with thesecontracts in the year ended December 31, 2011 (2010 – $4 million).At December 31, 2010, the company had interest rate swaps in place to fix interest rates on a notional amount of$1,789 million of debt at interest rates between 1.4% and 6.8%, maturing in 2011. The company also had aninterest rate swap to fix a notional amount of A$862 million debt at a fixed rate of 5.9% maturing in 2011 andinterest rate caps to cap a notional amount of $691 million LIBOR based debt at between 2.0% and 3.7%maturing in 2011. The fair value of these contracts at December 31, 2010 was a loss of $7 million and $7 millionof gains related to these contracts were recognized in fair value gains (losses) in the year ended December 31,2010.F-34