Singapore Airlines 2014 Annual Report Download - page 156

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154
NOTES TO THE FINANCIAL STATEMENTS
31 March 2014
SINGAPORE AIRLINES
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
2014 2013 2014 2013
Balance at 1 April (32.1) (48.4) 1.0 (9.5)
Net gain on fair value changes 58.6 16.3 16.4 10.5
Balance at 31 March 26.5 (32.1) 17.4 1.0
Gain on fair value changes 119.2 55.5 104.9 41.5
Share of associated companies’ net loss
on fair value reserve (1.2) (1.0) - -
Disposal of an associated company 39.0 - - -
Recognised in the carrying value of non-financial
assets on occurrence of capital expenditure commitments (11.4) 1.2 (11.4) 1.2
Recognised in the profit and loss account on occurrence of:
Fuel hedging contracts recognised in “Fuel costs” (62.1) (28.2) (50.3) (23.0)
Foreign currency contracts recognised in
“Other operating expenses” (28.3) (15.8) (26.8) (9.2)
Interest rate swap contracts recognised in “Finance charges” 3.4 4.6 - -
58.6 16.3 16.4 10.5
Total fair value reserve (40.4) (27.1) (51.5) 2.9
(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
2014 2013 2014 2013
Deferred gain/(loss) on sale and leaseback transactions
- operating leases 7.7 14.0 10.4 21.3
- finance leases 7.6 10.1 - -
15.3 24.1 10.4 21.3
Deferred credit 202.7 106.5 202.7 106.5
218.0 130.6 213.1 127.8
Presented as:
- Non-current assets (8.4) (16.1) - -
- Non-current liabilities 226.4 146.7 213.1 127.8
218.0 130.6 213.1 127.8