Qantas 2011 Annual Report Download - page 86

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THE QANTAS GROUP 84
for the year ended 30 June 2011
Notes to the Financial Statements continued
C DERIVATIVE INEFFECTIVENESS AND NONDESIGNATED DERIVATIVES IN THE CONSOLIDATED INCOME STATEMENT
Amounts shown below reect ineffectiveness on changes in the fair value of any derivative instrument in a cash ow hedge, or part of a
derivative instrument that does not qualify for hedge accounting. AASB  Financial Instruments: Recognition and Measurement (AASB )
permits reporting entities to separate the intrinsic value and time value of an option. AASB  allows for the intrinsic value of an option to be
designated as part of any hedging relationship. As a result, the time value component is not hedge accounted and changes in fair values
are recognised immediately in the Consolidated Income Statement for the nancial period as it does not form part of a hedging relationship.
Qantas Group

$M

$M
INEFFECTIVE AND NON-DESIGNATED DERIVATIVES
Ineffective portion of cash ow hedges  
Components of derivatives not hedge accounted (including time value of options) () ()
Ineffective and non-designated derivatives expense () ()
26. Notes to the Cash Flow Statement
A RECONCILIATION OF STATUTORY PROFIT FOR THE YEAR TO NET CASH FROM OPERATING ACTIVITIES
Statutory prot for the year  
Add: depreciation and amortisation , ,
Add: dividends received from associates and jointly controlled entities  
Add: share-based payments  
Add: amortisation of deferred nancing fees  
Add: net impairment of property, plant and equipment  
Add: net loss on disposal of investments and related transaction costs  –
Add: net loss on disposal of property, plant and equipment 
Add: changes in fair value of nancial instruments  
Less: amortisation of deferred lease benets () ()
Less: interest payments on liabilities held at fair value () ()
Add/(less): realised hedging loss/(gain) on operating cash ows  ()
(Less)/add: share of net (prot)/loss of associates and jointly controlled entities ()
Add/(less): other items ()
Movements in operating assets and liabilities:
— (Increase)/decrease in receivables () 
— Increase in inventories () ()
— Decrease in current tax receivables –
— Increase in other assets () ()
— Increase/(decrease) in payables  ()
— Decrease in revenue received in advance () ()
— Increase/(decrease) in provisions  ()
— Increase in deferred tax liabilities  
Net cash from operating activities , ,
25. Derivatives and Hedging Instruments continued