Qantas 2012 Annual Report Download - page 111
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FOR THE YEAR ENDED 30 JUNE 2012
Notes to the Financial Statements continued
C DERIVATIVE INEFFECTIVENESS AND NONDESIGNATED DERIVATIVES IN THE CONSOLIDATED INCOME STATEMENT
Amounts shown below reflect ineffectiveness on changes in the fair value of any derivative instrument in a cash flow hedge, or part
of a derivative instrument that does not qualify for hedge accounting. AASB 139 Financial Instruments: Recognition and Measurement
(AASB 139) permits reporting entities to separate the intrinsic value and time value of an option. AASB 139 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 financial period as it does
not form part of a hedging relationship.
Qantas Group
2012
$M
2011
$M
INEFFECTIVE AND NONDESIGNATED DERIVATIVES
Ineffective portion of cash flow 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 LOSS/PROFIT FOR THE YEAR TO NET CASH FROM OPERATING ACTIVITIES
Qantas Group
2012
$M
2011
$M
Statutory (loss)/profit for the year ()
Add: depreciation and amortisation , ,
Add: dividends received from associates and jointly controlled entities
Add: share-based payments
Add: amortisation of deferred financing fees
Add: net impairment of property, plant and equipment
Add: net impairment of goodwill and intangible assets –
Add: net impairment of investments –
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 financial instruments
Less: amortisation of deferred lease benefits () ()
Less: interest payments on liabilities held at fair value () ()
(Less)/add: realised hedging gain/(loss) on operating cash flows ()
Less: share of net profit of associates and jointly controlled entities () ()
(Less)/add: other items
Movements in operating assets and liabilities:
– Decrease /(increase) in receivables ()
– Increase in inventories () ()
– Increase in other assets () ()
– Increase in payables
– Increase/(decrease) in revenue received in advance ()
– Increase in provisions
– (Decrease)/increase in deferred tax liabilities ()
Net cash from operating activities , ,
25. Derivatives and Hedging Instruments continued
109