EasyJet 2015 Annual Report Download - page 110

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106 easyJet plc Annual report and accounts 2015
Notes to the accounts continued
9. Property, plant and equipment continued
The net book value of aircraft includes £275 million (2014: £322 million) relating to advance and option payments for future deliveries.
This amount is not depreciated.
Aircraft with a net book value of £583 million (2014: £597 million) are mortgaged to lenders as loan security.
Aircraft with a net book value of £149 million (2014: £142 million) are held under finance leases.
easyJet is contractually committed to the acquisition of 150 (2014: 170) Airbus A320 family aircraft, with a total list price of US$13.0 billion
(2014: US$14.6 billion) before escalations and discounts for delivery in 2016 (20 aircraft), between 2017 and 2018 (30 aircraft) and between
2017 and 2022 (100 new generation aircraft).
On 16 November 2015, easyJet secured an agreement with Airbus to take delivery of an additional 36 aircraft (of which 30 are new
generation) with a total list price of $3.2 billion, based on January 2012 list prices.
The ‘other’ category mainly comprises leasehold improvements, computer hardware, and fixtures, fittings and equipment.
10. Other non-current assets
2015
£ million 2014
£ million
Deferred consideration and deposits held by aircraft lessors 81 76
Leased aircraft – shortfall on sale and leaseback 35 55
Recoverable supplemental rent (pledged as collateral) 10 19
Other 4 6
130 156
11. Trade and other receivables
2015
£ million 2014
£ million
Trade receivables 61 62
Less provision for impairment (3) (4)
58 58
Prepayments and accrued income 86 90
Leased aircraft – shortfall on sale and leaseback 20 20
Recoverable supplemental rent (pledged as collateral) 7 10
Other receivables 35 22
206 200
Trade and other receivables of £14m (2014: £17m) are up to three months past due but not impaired.
With respect to trade receivables that are neither impaired nor past due, there are no indications at the reporting date that the payment
obligations will not be met. Amounts due from trade receivables are short-term in nature and largely comprise credit card receivables due
from financial institutions with credit ratings of at least A and, accordingly, the possibility of significant default is considered to be unlikely.
12. Cash and money market deposits
2015
£ million 2014
£ million
Cash and cash equivalents (original maturity less than three months) 650 424
Money market deposits (original maturity more than three months) 289 561
Current restricted cash 6 23
Non-current restricted cash 6 9
951 1,017
Interest rates on money market deposits and restricted cash are repriced within 185 days based on prevailing market rates of interest.
Carrying value is not significantly different from fair value.