Tesco 2014 Annual Report Download - page 131

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The fair value of derivative financial instruments has been disclosed in the Company’s Balance Sheet as:
2014 2013
Asset
£m
Liability
£m
Asset
£m
Liability
£m
Amounts falling due within one year 64 (130) 198 (91)
Amounts falling due after more than one year 1,430 (703) 1,913 (694)
Total 1,494 (833) 2,111 (785)
2014 2013
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 61 1,065 – – 103 1,065 – –
Cross currency swaps 583 2,055 (25) 551 890 2,749 (34) 249
Cash flow hedges
Interest rate swaps and similar instruments – – (110) 400 – – (126) 400
Cross currency swaps 139 287 (103) 782 237 642 (31) 531
Index-linked swaps 86 860 – – 80 833 – –
Forward foreign currency contracts 2486 (1) 196 –93 (1) 72
Derivatives in cash flow hedge and not
in a formal relationship*
Cross currency swaps 10 308 – – – – (10) 325
Derivatives not in a formal hedge relationship
Index-linked swaps 583 3,354 (499) 3,339 603 3,089 (530) 3,589
Forward foreign currency contracts 30 828 (95) 2,085 198 2,630 (53) 919
Total 1,494 9,243 (833) 7,353 2,111 11,101 (785) 6,085
* These are designated as cash flow hedges and net investment hedges at Group level but for PLC financial statements are classified as cash flow hedges and ‘not in a formal
hedge relationship’.
Note 11 Share-based payments
The Company’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 25 in the Group financial statements.
Share option schemes
The number of options and WAEP of share option schemes relating to the Company employees are:
For the year ended 22 February 2014
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 24 February 2013 17,390 346.61 57,184 367.22 13,988,866 384.66 14, 317,776 0.00
Granted 1,862 322.00 – – – – 1,978,324 0.00
Forfeited (6,292) 378.28 (38,176) 392.90 (3,577,576) 424.36 (2,550,724) 0.00
Exercised (3,852) 316 .15 – – (935,696) 338.40 (3,030,439) 0.00
Outstanding at 22 February 2014 9,108 332.59 19,008 315.65 9,475,594 374.24 10,714,937 0.00
Exercisable as at 22 February 2014 – – 19,008 315.65 9,475,594 374.24 4,206,723 0.00
Exercise price range (pence) – – –
312.75 to
318 .60 –
312.75 to
473.75 –0.00
Weighted average remaining contractual life (years) – – – 1.68 –3.57 –4.18
Note 10 Derivative financial instruments
128 Tesco PLC Annual Report and Financial Statements 2014
Notes to the Parent Company financial statements continued