EasyJet 2011 Annual Report Download - page 92

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Notes to the accounts
Continued
21 Financial instruments
Carrying value and fair value of financial assets and liabilities
The fair values of financial assets and liabilities, together with the carrying value at each reporting date are
as follows:
Amortised cost Held at fair value
At 30 September 2011
Loans and
receivables
£ million
Financial
liabilities
£ million
Cash flow
hedge
£ million
Held for
trading
£ million
Other
£ million
Carrying
£ million
Fair
value
£ million
Loan notes 11 – – – – 11 11
Other non-current assets 59 – – – 4 63 63
Trade and other
receivables 130 – – – 35 165 165
Trade and other payables – (375) – – (541) (916) (916)
Derivative financial
instruments – – 20 8 – 28 28
Restricted cash 123 – – – – 123 123
Money market deposits 300 – – – – 300 300
Cash and cash equivalents 1,100 – – – – 1,100 1,100
Borrowings – (1,300) – – – (1,300) (1,307)
Amortised cost Held at fair value
At 30 September 2010
Loans and
receivables
£ million
Financial
liabilities
£ million
Cash flow
hedge
£ million
Held for
trading
£ million
Other
£ million
Carrying
£ million
Fair
value
£ million
Loan notes 13 – – – – 13 13
Other non-current assets 50 – – – 4 54 54
Trade and other
receivables 130 – – – 64 194 194
Trade and other payables – (399) – – (430) (829) (829)
Derivative financial
instruments – – 48 (1) – 47 47
Restricted cash 56 – – – – 56 56
Money market deposits 260 – – – – 260 260
Cash and cash equivalents 912 – – – – 912 912
Borrowings – (1,212) – – – (1,212) (1,221)
Amounts disclosed in the “other” column are items that do not meet the definition of a financial instrument. They
are disclosed to facilitate reconciliation of the carrying values of financial instruments to line items presented in
the statement of financial position.
Fair value calculation methodology
Derivative financial instruments are forward contracts that are valued based on market rates and market-
accepted models. Fair value for financial instruments held at amortised cost has been estimated by discounting
cash flows at prevailing interest rates and by applying year end exchange rates.
90
easyJet plc
Annual report
and accounts 2011