Air New Zealand 2011 Annual Report Download - page 34

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17. FINANCIAL RISK MANAGEMENT (CONTINUED)
COMPANY
AS AT 30 JUNE 2010
In NZ$M NZD USD AUD EUR JPY GBP OTHER TOTAL
Foreign currency risk
Non-derivative financial instruments
Cash and cash equivalents 1,009 5 35 1 1 3 7 1,061
Other interest-bearing assets 115 - 22 - - - - 137
Trade and other receivables (excluding prepayments) 123 58 16 10 5 16 17 245
Amounts owing from subsidiaries *** 763 (622) 26 - 2 - - 169
Amounts owing from associates 3------3
Trade and other payables (122) (98) (50) (4) (5) (21) (14) (314)
Interest-bearing liabilities (230) - - - - - - (230)
Amounts owing to subsidiaries (1,216) (2) (28) - - - - (1,246)
Amounts owing to associates - (13) - - - - - (13)
Net financial position exposure before hedging activities 445 (672) 21 7 3 (2) 10 (188)
Foreign currency derivatives
Notional principal (NZ$M)
Cash flow hedges (1,065) 1,947 (339) (85) (143) (164) (150) 1
Non-hedge accounted (561) 621 (60) (1) - 2 - 1
Balance** (1,181) 1,896 (378) (79) (140) (164) (140) (186)
Cash flows in respect of foreign currency cash flow
hedges were expected to occur as follows:
Not later than 1 year (769) 1,563 (296) (82) (138) (154) (132) (8)
Later than 1 year and not later than 2 years (296) 384 (43) (3) (5) (10) (18) 9
(1,065) 1,947 (339) (85) (143) (164) (150) 1
** 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.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
AS AT 30 JUNE 2011
AIR NEW ZEALAND ANNUAL FINANCIAL RESULTS 2011