EasyJet 2014 Annual Report Download - page 124

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122 easyJet plc Annual report and accounts 2014
Notes to the accounts continued
22 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 2014
Loans and
receivables
£ million
Financial
liabilities
£ million
Cash flow
hedges
£ million
Other
£ million
Carrying value
£ million
Fair value
£ million
Loan notes 4 – – – 4 4
Other non-current assets 95 – – 57 152 152
Trade and other receivables 141 – – 59 200 200
Trade and other payables – (434) – (676) (1,110) (1,110)
Derivative financial instruments – – (21) – (21) (21)
Restricted cash 32 – – – 32 32
Money market deposits 561 – – – 561 561
Cash and cash equivalents 424 – – – 424 424
Borrowings – (563) – – (563) (568)
Amortised cost
Held at fair
value
At 30 September 2013
Loans and
receivables
£ million
Financial
liabilities
£ million
Cash flow
hedges
£ million
Other
£ million
Carrying value
£ million
Fair value
£ million
Loan notes 7 – – – 7 7
Other non-current assets 108 – – 77 185 185
Trade and other receivables 149 – – 45 194 194
Trade and other payables – (454) – (639) (1,093) (1,093)
Derivative financial instruments – – (71) – (71) (71)
Restricted cash 12 – – – 12 12
Money market deposits 224 – – – 224 224
Cash and cash equivalents 1,013 – – – 1,013 1,013
Borrowings – (679) – – (679) (687)
All financial instruments are in level 2 of the IFRS 13 fair value hierarchy.
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.