The source code

    /**
     * @class Ext.layout.AbsoluteLayout
     * @extends Ext.layout.AnchorLayout
     * This is a layout that inherits the anchoring of {@link Ext.layout.AnchorLayout} and adds the
     * ability for x/y positioning using the standard x and y component config options.
     * This class is intended to be extended or created via the {@link Ext.Container#layout layout}
     * configuration property.  See {@link Ext.Container#layout} for additional details.
     * Example usage:
     *
    var form = new Ext.form.FormPanel({
        title: 'Absolute Layout',
        layout:'absolute',
        layoutConfig: {
            // layout-specific configs go here
            extraCls: 'x-abs-layout-item',
        },
        baseCls: 'x-plain',
        url:'save-form.php',
        defaultType: 'textfield',
        items: [{
            x: 0,
            y: 5,
            xtype:'label',
            text: 'Send To:'
        },{
            x: 60,
            y: 0,
            name: 'to',
            anchor:'100%'  // anchor width by percentage
        },{
            x: 0,
            y: 35,
            xtype:'label',
            text: 'Subject:'
        },{
            x: 60,
            y: 30,
            name: 'subject',
            anchor: '100%'  // anchor width by percentage
        },{
            x:0,
            y: 60,
            xtype: 'textarea',
            name: 'msg',
            anchor: '100% 100%'  // anchor width and height
        }]
    });

     */
    Ext.layout.AbsoluteLayout = Ext.extend(Ext.layout.AnchorLayout, {

        extraCls: 'x-abs-layout-item',

        onLayout : function(ct, target){
            target.position();
            this.paddingLeft = target.getPadding('l');
            this.paddingTop = target.getPadding('t');

            Ext.layout.AbsoluteLayout.superclass.onLayout.call(this, ct, target);
        },

        // private
        adjustWidthAnchor : function(value, comp){
            return value ? value - comp.getPosition(true)[0] + this.paddingLeft : value;
        },

        // private
        adjustHeightAnchor : function(value, comp){
            return  value ? value - comp.getPosition(true)[1] + this.paddingTop : value;
        }
        /**
         * @property activeItem
         * @hide
         */
    });
    Ext.Container.LAYOUTS['absolute'] = Ext.layout.AbsoluteLayout;