Vodafone 2006 Annual Report Download - page 105

Vodafone Group Plc Annual Report 2006 103
Financials
Maturity of borrowings
The maturity profile of the Group’s non-derivative financial liabilities, using undiscounted cash flows and which, therefore, differs to both the carrying value and fair value, is as
follows:
Redeemable Finance Loans in fair
Bank preference lease Other value hedge
loans shares obligations Bonds liabilities relationships Total
£m £m £m £m £m £m £m
Within one year 58 49 12 167 1,858 2,164 4,308
In one to two years 36 49 11 2,044 295 1,521 3,956
In two to three years 36 49 11 936 – 1,187 2,219
In three to four years 39 49 11 55 – 5,548 5,702
In four to five years 1,290 49 10 55 – 267 1,671
In more than five years 13 1,387 42 1,375 – 7,428 10,245
1,472 1,632 97 4,632 2,153 18,115 28,101
Effect of discount/financing rates – (730) (22) (704) – (6,447) (7,903)
31 March 2006 1,472 902 75 3,928 2,153 11,668 20,198
Within one year 27 45 21 43 1,683 590 2,409
In one to two years 1,176 45 21 43 192 2,143 3,620
In two to three years 4 45 20 43 – 1,488 1,600
In three to four years 5 45 18 43 – 1,056 1,167
In four to five years 8 45 17 43 10 5,619 5,742
In more than five years 21 1,323 76 1,196 – 4,806 7,422
1,241 1,548 173 1,411 1,885 15,702 21,960
Effect of discount/financing rates – (703) (32) (505) – (5,527) (6,767)
31 March 2005 1,241 845 141 906 1,885 10,175 15,193
The maturity profile of the Group’s financial derivatives, using undiscounted cash flows, is as follows:
2006 2005
Payable Receivable Payable Receivable
£m £m £m £m
Within one year 14,012 14,009 5,701 5,855
In one to two years 609 600 412 515
In two to three years 545 556 391 435
In three to four years 456 523 345 393
In four to five years 332 315 273 357
In more than five years 2,839 2,851 2,045 2,176
18,793 18,854 9,167 9,731
The currency split of the Group’s foreign exchange derivatives, all of which mature in less than one year, is as follows:
2006 2005
Payable Receivable Payable Receivable
£m £m £m £m
Sterling – 2,971 350 920
Euro 6,387 157 1,553 66
US dollar 3,646 9,655 1,258 3,961
Japanese yen 2,017 190 2,054 141
Other 1,323 361 91 247
13,373 13,334 5,306 5,335
The £39 million net payable (2005: £29 million net receivable) foreign exchange financial instruments, in the table above, are split £69 million (2005: £13 million) within trade and
other payables and £30 million (2005: £42 million) within trade and other receivables.
The present value of minimum lease payments under finance lease arrangements under which the Group has leased certain of its equipment is analysed as follows:
2006 2005
£m £m
Within one year 711
In two to five years 31 64
In more than five years 37 66