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AIR NEW ZEALAND ANNUAL FINANCIAL RESULTS 201432
18. FINANCIAL RISK MANAGEMENT (CONTINUED)
The following table sets out the contractual, undiscounted cash flows for derivative financial instruments:
GROUP
AS AT 30 JUNE 2014
STATEMENT OF
FINANCIAL POSITION
$M
CONTRACTUAL
CASH FLOWS
$M
< 1 YEAR
$M
1 - 2 YEARS
$M
2 - 5 YEARS
$M
5+ YEARS
$M
Foreign exchange derivatives:
- Inflow
- Outflow
2,460
(2,518)
2,435
(2,492)
25
(26)
-
-
-
-
Fuel derivatives
(53)
25
(58)
21
(57)
21
(1)
-
-
-
-
-
(28) (37) (36) (1) - -
GROUP
AS AT 30 JUNE 2013
STATEMENT OF
FINANCIAL POSITION
$M
CONTRACTUAL
CASH FLOWS
$M
< 1 YEAR
$M
1 - 2 YEARS
$M
2 - 5 YEARS
$M
5+ YEARS
$M
Foreign exchange derivatives:
- Inflow
- Outflow
2,047
(1,964)
2,047
(1,964)
-
-
-
-
-
-
Fuel derivatives
Equity derivatives
91
(1)
(5)
83
(6)
-
83
(6)
-
-
-
-
-
-
-
85 77 77 - - -
COMPANY
AS AT 30 JUNE 2014
STATEMENT OF
FINANCIAL POSITION
$M
CONTRACTUAL
CASH FLOWS
$M
< 1 YEAR
$M
1 - 2 YEARS
$M
2 - 5 YEARS
$M
5+ YEARS
$M
Foreign exchange derivatives:
- Inflow
- Outflow
2,460
(2,518)
2,435
(2,492)
25
(26)
-
-
-
-
Fuel derivatives
(53)
25
(58)
21
(57)
21
(1)
-
-
-
-
-
(28) (37) (36) (1) - -
COMPANY
AS AT 30 JUNE 2013
STATEMENT OF
FINANCIAL POSITION
$M
CONTRACTUAL
CASH FLOWS
$M
< 1 YEAR
$M
1 - 2 YEARS
$M
2 - 5 YEARS
$M
5+ YEARS
$M
Foreign exchange derivatives:
- Inflow
- Outflow
2,053
(1,970)
2,053
(1,970)
-
-
-
-
-
-
Fuel derivatives
91
(1)
83
(6)
83
(6)
-
-
-
-
-
-
90 77 77 ---
Capital risk management
The Group’s objectives when managing capital are to safeguard the company’s ability to continue as a going concern and to continue
to generate shareholder value and benefits for other stakeholders, and to provide an acceptable return for shareholders by removing
complexity, reducing costs and pricing our services commensurately with the level of risk. The Group is not subject to any externally
imposed capital requirements.
The Group’s capital structure is managed in the light of economic conditions and the risk characteristics of the underlying assets.
The Group’s capital structure may be modified by adjusting the amount of dividends paid to shareholders, initiating dividend reinvestment
opportunities, returning capital to shareholders, issuing new shares or selling assets to reduce debt. The capital management policies
and guidelines are regularly reviewed by the Board of Directors.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
AS AT 30 JUNE 2014