EasyJet 2012 Annual Report Download - page 92

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Accounts & other information
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 2012
Loans and
receivables
£ million
Financial
liabilities
£ million
Cash flow
hedge
£ million
Held for
trading
£ million
Other
£ million
Carrying
value
£ million
Fair
value
£ million
Loan notes 10 – – – – 10 10
Other non-current assets 53 – – – 4 57 57
Trade and other receivables 195 – – – 46 241 241
Trade and other payables – (454) – – (567) (1,021) (1,021)
Derivative financial instruments – – 53 (9) – 44 44
Restricted cash 159 – – – – 159 159
Money market deposits 238 – – – – 238 238
Cash and cash equivalents 645 – – – – 645 645
Borrowings – (957) – – – (957) (965)
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
value
£ 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)
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.
easyJet plc
Annual report and accounts 2012
90