BT 2013 Annual Report Download - page 150
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148 Financial statements
24. Loans and other borrowings continued
Loans and other borrowings are analysed as follows:
2013 2012
At 31 March £m £m
Current liabilities
Listed bonds 566 1,609
Finance leases 715
Commercial paper 769 588
Other loans and bank overdrafts 394 675
Total current liabilities 1,736 2,887
Non-current liabilities
Listed bonds 8,010 7,327
Finance leases 265 270
Other loans and borrowings 22
Total non-current liabilities 8,277 7,599
Total 10,013 10,486
The carrying values disclosed in the above table reflect balances at amortised cost adjusted for accrued interest and current fair value adjustments
to the relevant loans or borrowings. These do not reflect the final principal repayments that will arise after taking account of the relevant derivatives
in hedging relationships which are reflected in the table below. Apart from finance leases, all borrowings as at 31 March 2013 and 2012 were
unsecured.
The principal repayments of loans and borrowings at hedged rates amounted to £9,251m (2011/12: £9,925m) and repayments fall due as follows:
2013 2012
Effect of Principal Effect of Principal
hedging repayments hedging repayments
Carrying and at hedged Carrying and at hedged
amount interestarates amount interestarates
At 31 March £m £m £m £m £m £m
Within one year, or on demand 1,736 (264) 1,472 2,887 (262) 2,625
Between one and two years 1,155 9 1,164 10 – 10
Between two and three years 1,352 (69) 1,283 1,132 26 1,158
Between three and four years 693 – 693 845 (40) 805
Between four and five years 1,235 (174) 1,061 695 – 695
After five years 3,734 (156) 3,578 4,839 (207) 4,632
Total due for repayment after more than one year 8,169 (390) 7,779 7,521 (221) 7,300
Total repayments 9,905 (654) 9,251 10,408 (483) 9,925
Fair value adjustments for hedged risk 108 78
Total loans and other borrowings 10,013 10,486
aAdjustments for hedging and interest reflect the impact of the currency element of derivatives and adjust the repayments to exclude interest recognised in the carrying amount.