Air New Zealand 2011 Annual Report Download - page 33

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17. FINANCIAL RISK MANAGEMENT (CONTINUED)
COMPANY
AS AT 30 JUNE 2011
In NZ$M NZD USD AUD EUR JPY GBP OTHER TOTAL
Foreign currency risk
Non-derivative financial instruments
Cash and cash equivalents 831 2 3 1 5 1 8 851
Other interest-bearing assets 130 - 40 - - - - 170
Trade and other receivables (excluding prepayments) 158 59 21 7 2 17 15 279
Amounts owing from subsidiaries *** 712 (350) 29 - 1 - - 392
Amounts owing from associates 11-----2
Trade and other payables (119) (109) (61) (4) (5) (20) (13) (331)
Interest-bearing liabilities (429) (179) - - - - - (608)
Amounts owing to subsidiaries (948) (1) (23) - - - - (972)
Amounts owing to associates - (2) - - - - - (2)
Net financial position exposure before hedging activities 336 (579) 9 4 3 (2) 10 (219)
Foreign currency derivatives
Notional principal (NZ$M)
Cash flow hedges (770) 1,561 (393) (86) (133) (181) (128) (130)
Non-hedge accounted (567) 560 (35) 1 - 2 2 (37)
Balance ** (1,001) 1,542 (419) (81) (130) (181) (116) (386)
Cash flows in respect of foreign currency cash flow
hedges are expected to occur as follows:
Not later than 1 year (684) 1,383 (339) (77) (128) (164) (114) (123)
Later than 1 year and not later than 2 years (86) 178 (54) (9) (5) (17) (14) (7)
(770) 1,561 (393) (86) (133) (181) (128) (130)
** The balance represents hedges of highly probable forecast foreign currency operating and capital expenditure transactions.
*** A set-off arrangement is in place between a United States dollar denominated intercompany payable and a New Zealand dollar
denominated intercompany receivable from a wholly owned subsidiary.
AIR NEW ZEALAND ANNUAL FINANCIAL RESULTS 2011