Vodafone 2013 Annual Report Download - page 128

24. Borrowings (continued)
Maturity of borrowings
The maturity prole of the anticipated future cash ows including interest in relation to the Group’s non-derivative nancial liabilities
on an undiscounted basis which, therefore, differs from both the carrying value and fair value, is as follows:
Redeemable Loans in fair
Bank preference Commercial Other value hedge
loans shares paper Bonds liabilities relationships Total
£m £m £m £m £m £m £m
Within one year 3,390 56 4,070 2,946 2,263 277 13,002
In one to two years 590 56 – 3,313 138 870 4,967
In two to three years 484 56 – 4,753 1,101 266 6,660
In three to four years 1,534 56 – 1,636 599 245 4,070
In four to ve years 1,080 56 – 3 ,156 72 245 4,609
In more than ve years 1,946 1, 212 – 5,877 52 7, 913 17,000
9,024 1,492 4,070 21,681 4,225 9,816 50,308
Effect of discount/nancing rates (1,814) (137) (16) (3,850) (299) (2,795) (8,911)
31 March 2013 7,210 1,355 4,054 17,831 3,926 7,021 41,397
Within one year 684 56 2,283 2,000 1,044 199 6,266
In one to two years 2,983 56 – 2,828 771 199 6,837
In two to three years 567 56 – 3,197 – 762 4,582
In three to four years 1,316 56 – 3,536 1,235 191 6,334
In four to ve years 1,574 56 – 1,541 726 169 4,066
In more than ve years 1,466 1,214 – 6,780 69 4,465 13,994
8,590 1,494 2,283 19,882 3,845 5,985 42,079
Effect of discount/nancing rates (1,331) (213) (11) (4,130) (366) (1,408) (7,459)
31 March 2012 7,259 1,281 2,272 15,752 3,479 4,577 34,620
The maturity prole of the Group’s nancial derivatives (which include interest rate and foreign exchange swaps), using undiscounted cash ows,
is as follows:
2013 2012
Payable Receivable Payable Receivable
£m £m £m £m
Within one year 10,671 11, 0 20 14,357 14,498
In one to two years 1,014 1, 214 675 786
In two to three years 1,308 1,495 561 678
In three to four years 2,803 3,087 540 641
In four to ve years 581 780 402 520
In more than ve years 3,579 4,454 2,533 3,566
19,956 22,050 19,068 20,689
The currency split of the Group’s foreign exchange derivatives is as follows:
2013 2012
Payable Receivable Payable Receivable
£m £m £m £m
Sterling 2,365 4,477 1,287 7,070 
Euro 6,583 602 4,793 2,613
US dollar 348 6,130 4,415 2,445
Japanese yen 669 1,296 2,207 23
Other 3,945 1,768 962 1,552
13,910 14,273 13,664 13,703
Payables and receivables are stated separately in the table above as settlement is on a gross basis. The £363 million net receivable (2012: £39 million
net receivable) in relation to foreign exchange nancial instruments in the table above is split £44 million (2012: £89 million) within trade and other
payables and £407 million (2012: £128 million) within trade and other receivables.
The present value of minimum lease payments under nance lease arrangements under which the Group has leased certain of its equipment
is analysed as follows:
2013 2012
£m £m
Within one year 37 18
In two to ve years 42 34
In more than ve years 53 34
Notes to the consolidated nancial statements (continued)
126 Vodafone Group Plc
Annual Report 2013