Tesco 2011 Annual Report Download - page 157

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NOTE 10 DERIVATIVE FINANCIAL INSTRUMENTS
The fair value of derivative financial instruments has been disclosed in the Company’s Balance Sheet as:
2011 2010
Asset
£m
Liability
£m
Asset
£m
Liability
£m
Current 142 (138) 208 (116)
Non-current 1,131 (567) 1,250 (621)
Total 1,273 (705) 1,458 (737)
2011 2010
Asset Liability Asset Liability
Fair value
£m
Notional
£m
Fair value
£m
Notional
£m
Fair value
£m
Notional
£m
Fair value
£m
Notional
£m
Fair value hedges
Interest rate swaps and similar
instruments 13 665 (21) 400 10 665 (32) 400
Cross currency swaps 728 2,674 (39) 714 1,131 4,513 (44) 258
Cash flow hedges
Interest rate swaps and similar
instruments – – (62) 1,172 – – (39) 400
Cross currency swaps 126 298 (151) 784 129 315 (206) 1,042
Forward foreign currency contracts – – (1) 145 9 218 – 1
Net investment hedges
Cross currency swaps – – – – – – (30) 124
Forward foreign currency contracts 19 383 (97) 952 19 244 (172) 1,037
Derivatives not in a formal
hedge relationship
Interest rate swaps and similar
instruments 377 2,639 (310) 2,639 140 1,115 (112) 1,025
Cross currency swaps – – – – 1 173 (22) 457
Future purchases of minority interests – – – – – – (41) –
Forward foreign currency contracts 10 400 (24) 550 19 376 (39) 1,070
Total 1,273 7,059 (705) 7,356 1,458 7,619 (737) 5,814
NOTE 11 SHARE-BASED PAYMENTS
Tesco PLC’s equity-settled share-based payment schemes comprise various share schemes designed to reward Executive Directors. For further
information on these schemes, including the valuation models and assumptions used, see note 27 to the Group financial statements.
Share option schemes
The number of options and weighted average exercise price (WAEP) of share option schemes relating to Tesco PLC employees are:
For the year ended 26 February 2011
Savings-related
share option scheme
Approved
share option scheme
Unapproved
share option scheme
Nil cost
share options
Options WAEP Options WAEP Options WAEP Options WAEP
Outstanding at
27 February 2010 36,106 315.87 53,381 280.99 14,549,529 347.65 9,185,455 0.00
Granted 5,516 386.00 35,730 419.80 3,150,544 419.80 4,148,918 0.00
Forfeited – – – – – – (499,596) 0.00
Exercised (7,788) 248.00 (24,781) 242.11 (3,331,503) 252.23 (435,650) 0.00
Outstanding at
26 February 2011 33,834 342.93 64,330 373.06 14,368,570 385.59 12,399,127 0.00
Exercisable as at
26 February 2011 – – 28,600 314.68 4,797,618 377.97 3,744,903 0.00
Exercise price range
(pence) – – –
312.75 to
318.60 –
312.75 to
473.75 – 0.00
Weighted average remaining
contractual life (years) – – – 4.51 – 5.30 – 6.74
TESCO PLC Annual Report and Financial Statements 2011
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153
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