Singapore Airlines 2013 Annual Report Download - page 148
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146
SINGAPORE AIRLINES
NOTES TO THE FINANCIAL STATEMENTS
16 Other Reserves (in $ million) (continued)
(d) Fair value reserve (continued)
Fair value changes of derivative financial instruments designated as hedging instruments in cash flow hedges:
The Group The Company
31 March 31 March
2013 2012 2013 2012
Balance at 1 April (48.4) (141.0) (9.5) (94.2)
Net gain on fair value changes 16.3 92.6 10.5 84.7
Balance at 31 March (32.1) (48.4) 1.0 (9.5)
Gain on fair value changes 55.5 16.2 41.5 14.9
Share of associated companies’ net (loss)/gain
on fair value reserve (1.0) 0.6 - -
Recognised in the carrying value of non-financial
assets on occurrence of capital expenditure commitments 1.2 35.9 1.2 35.9
Recognised in the profit and loss account on occurrence of:
Fuel hedging contracts recognised in “Fuel costs” (28.2) (19.9) (23.0) (16.5)
Foreign currency contracts recognised in
“Other operating expenses” (15.8) 53.9 (9.2) 50.4
Interest rate swap contracts recognised in “Finance charges” 4.6 5.9 - -
16.3 92.6 10.5 84.7
Total fair value reserve (27.1) (47.6) 2.9 (9.8)
(e) General reserve
General reserve comprises mainly retained earnings of the Group and the Company. Movements in the Group’s and
the Company’s general reserves are set out in the Statement of Changes in Equity respectively.
17 Deferred Account (in $ million)
The Group The Company
31 March 31 March
2013 2012 2013 2012
Deferred gain/(loss) on sale and leaseback transactions
- operating leases 14.0 (39.7) 21.3 (33.7)
- finance leases 10.1 12.5 - -
24.1 (27.2) 21.3 (33.7)
Deferred credit 106.5 199.9 106.5 199.9
130.6 172.7 127.8 166.2
Presented as:
- Non-current assets (16.1) (51.7) - (33.7)
- Non-current liabilities 146.7 224.4 127.8 199.9
130.6 172.7 127.8 166.2
31 March 2013