Vodafone 2016 Annual Report Download - page 141

Overview Strategy review Performance Governance Financials Additional information
Vodafone Group Plc
Annual Report 2016
139
Net nancial instruments
The table below shows the Group’s nancial assets and liabilities that are subject to offset in the balance sheet and the impact of enforceable master
netting or similar agreements.
At 31 March 2016
Related amounts not set off in the balance sheet
Gross amount Amount set off
Amounts
presented in
balance sheet
Right of set off
with derivative
counterparties Cash collateral Net amount
£m £m £m £m £m £m
Derivative nancial assets 4,304 –4,304 (1,216) (2,837) 251
Derivative nancial liabilities (1,564) –(1,564) 1,216 110 (238)
Total 2,740 –2,740 –(2,727) 13
At 31 March 2015
Related amounts not set off in the balance sheet
Gross amount Amount set off
Amounts
presented in
balance sheet
Right of set off
with derivative
counterparties Cash collateral Net amount
£m £m £m £m £m £m
Derivative nancial assets 4,005 – 4,005 (726) (2,542) 737
Derivative nancial liabilities (984) – (984) 726 30 (228)
Total 3,021 – 3,021 – (2,512) 509
Financial assets and liabilities are offset and the amount reported in the consolidated balance sheet when there is a legally enforceable right
to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.
Derivative nancial instruments that do not meet the criteria for offset could be settled net in certain circumstances under ISDA (International Swaps
and Derivatives Association) agreements where each party has the option to settle amounts on a net basis in the event of default from the other.
Collateral may be offset and net settled against derivative nancial instruments in the event of default by either party. The aforementioned collateral
balances are recorded in “other short-term investments” or “short-term debt” respectively.
24. Directors and key management compensation
This note details the total amounts earned by the Company’s Directors and members of the Executive Committee.
Directors
Aggregate emoluments of the Directors of the Company were as follows:
2016 2015 2014
£m £m £m
Salaries and fees 4 4 4
Incentive schemes1232
Other benets21 1 1
787
Notes:
1 Excludes gains from long-term incentive plans.
2 Includes the value of the cash allowance taken by some individuals in lieu of pension contributions.
The aggregate gross pre-tax gain made on the exercise of share options in the year ended 31 March 2016 by one Director who served during the
year was £0.2 million (2015: one Director, <£0.1 million; 2014: three Directors, £4.0 million).
Key management compensation
Aggregate compensation for key management, being the Directors and members of the Executive Committee, was as follows:
2016 2015 2014
£m £m £m
Short-term employee benets 22 18 17
Share-based payments 20 18 21
42 36 38