EasyJet 2014 Annual Report Download - page 108

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106 easyJet plc Annual report and accounts 2014
h
1 Significant accounting policies continued
Leases
easyJe te s into s sa i ns eb i ell new a a hi a
i edia ely leases ack nde an e a ing ease u luses ising n is sal, he he ice ha he ai c a s s ld
is b a alue, ec gnised e in e a ise igh -lin asis ex ed ease e
e a bac ceeds is d
h which is c ed as de nsid hin n n-c en en sse s
na s ce ceeds due s xchanged educ n in u u e ease en als,
which nsequen ly e el ice. s es eeds ceiv ale and easebac we an he
value he i a ld. Th ul ing l de ed hin n n-cu en sse
n a aigh -line asis ve he x ec ed ease .
Nn-c n ingen e a ing lease n als e cha ged he inc e a e en n a aigh -line basis ve he li e he ease.
be leases yJe ke al en s base n va iab e
ex ensed s cu ed
Finance leases, ic a easyJe subs ially al he isk and ne cide al ne i ed i e ,
gnised h ce a he i lu leas esen alue h ni u
leas en . Any di ly bu ble s e ing in nancing ale nd leasebacks ncluded n he valu he
asse c gnised Lease en s ed e ween he nance a ges an h ed eas iabi s as
chieve ns a e e ainin alanc h abili nanc cha ges clud e es ayabl
and e nancin h e
Financial instruments
Financial e a e gnised whe y be a a y he a ual vis ns leva
an gnised en a a such vis ns.
abl ai valu nanc u s s calcul ed disc u cash l w evailin
i e e a e ye chan e
N n-de iva ve ancial sse s ec a ise s an nclud a s, ad eceivables, ca and ney
a e si s Inve qui s e s a ie a s wh ai lu can e liab as du
si ican a iabi h ang e e a alu
Ca n sh uivalen ise cash held in bank un s cess e d y ke de i nk
de si s an i- a y e s e ayable n e an a u ing wi hin h ee n hs nce i n. In e es inc e n hese i s
is ec gnis usin he iv e e e h Res ed a a e si s which e ns n
h us is as ied s e n-cu en a e nin eng h .
Il sses c gnised inancia sse s a ie ise c s e e e is jec iv idence h
i ai en l ss ha e incu ed Th ss is easu s h di ence be wee sse '
and he es valu e s s, dis a he ginal ec iv e a e
I bsequen ly h ss eases, nd ease ca be la je iv even
ccu as ec gnised h ss is eve sed. ai en sses and
als a e gnised he s n as nen ne nanc ges.
N n-de iva ive inancial iabili ies i ially ec de ai alue ess di ec ly bu ble nsac i n s , nd subse
ise s nclude ad an yables, wings and visi ns. In ex ns wings is gnised
using e e s d
B wings l as cu abili es nle unc nal gh de e iabili e
hs balanc hee a e.
iva ve ncia a e asu ed lue.
iva ve ncia n esign ed as cas dg d i iga ing and inves in ansa
ex en s in je l ices and u ency exchan a Hedg acc un is n u s