Ryanair 2010 Annual Report Download - page 166

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164
The following provides an analysis of changes in borrowings during the year:
At March 31,
2010 2009 2008
1M 1M 1M
Balance at start of year................................................................
.........................
2,398.4 2,266.5 1,862.1
Loans raised to finance aircraft................................................................
............
788.1 459.0 646.4
Repayments of amounts borrowed................................................................
.......
(230.3) (327.1) (242.0)
Balance at end of year ................................................................
.......................
2,956.2 2,398.4 2,266.5
Less than one year ................................................................
...............................
265.5 202.9 366.8
More than one year ................................................................
..............................
2,690.7 2,195.5 1,899.7
2,956.2 2,398.4 2,266.5
The maturities of the contractual undiscounted cash flows (including estimated future interest payments
on debt) of the Company’s financial liabilities are as follows:
Total
Carrying
Value
Total
Contractual
Cash flows 2011 2012 2013 2014 Thereafter
1M 1M 1M 1M 1M 1M 1M
At March 31, 2010
Long term debt and finance
leases
- Fixed rate debt
.....................
3.89% 1,639.6 1,767.6 183.9 184.4 184.1 185.0 1,030.2
- Floating rate debt
.................
1.35% 1,316.6 1,422.2 127.7 130.4 133.2 136.3 894.6
2,956.2 3,189.8 311.6 314.8 317.3 321.3 1,924.8
Derivative financial
instruments
- Interest rate swaps
................
76.4 149.2 44.2 37.8 23.9 17.8 25.5
Aircraft maintenance
provision on operating
leased aircraft
.........................
92.6 92.6 36.2 7.6 9.5 22.4 16.9
Trade payables
.......................
154.0 154.0 154.0 - - - -
Accrued expenses
...................
260.3 260.3 260.3 - - - -
Total at March 31, 2010
.........
3,539.5 3,845.9 806.3 360.2 350.7 361.5 1,967.2
Total
Carrying
Value
Total
Contractual
Cash flows 2010 2011 2012 2013 Thereafter
1M 1M 1M 1M 1M 1M 1M
At March 31, 2009
Long term debt and finance
leases
- Fixed rate debt
.....................
5.96% 667.1 826.6 96.6 94.2 91.7 88.3 455.8
- Floating rate debt
.................
2.20% 1,731.3 1,976.0 179.5 181.6 183.9 186.4 1,244.6
2,398.4 2,802.6 276.1 275.8 275.6 274.7 1,700.4
Derivative financial
instruments
- Interest rate swaps
................
84.8 92.3 22.0 25.2 19.6 10.9 14.6
- Jet fuel – derivative
contracts
................................
106.7 106.7 106.7 - - - -
Aircraft maintenance
provision on operating
leased aircraft
.........................
61.9 61.9 - 14.5 13.8 8.4 25.2
Trade payables
.......................
132.7 132.7 132.7 - - - -
Accrued expenses
...................
226.4 226.4 226.4 - - - -
Total at March 31, 2009
.........
3,010.9 3,422.6 763.9 315.5 309.0 294.0 1,740.2