BT 2007 Annual Report Download - page 131
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33. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT continued
Financial liabilities
The following tables set out the exposure of financial liabilities to market pricing, interest cash flow risk and currency risk. The
maturity profile of financial liabilities reflects the contractual repricing dates.
2007
Listed
bonds,
debentures
and notes
Effect of
hedging and
interesta
Adjusted
listed
bonds,
debentures
and notes
Finance
leases
Effect of
hedging and
interesta
Adjusted
finance
leases
Other loans
and
borrowings
Effect of
hedging and
interesta
Adjusted
other loans
and
borrowings
Current and
non current
trade and
other
payablesb
Current and
non current
provisionsc
£m £m £m £m £m £m £m £m £m £m £m
Fixed rate interest
Pound sterling 1,617 4,085 5,702 110 – 110 152 (7) 145 – –
Euro 768 (768) –––––––––
US dollar 3,563 (3,563) –––––––––
Total fixed rate interest financial
liabilities 5,948 (246) 5,702 110 – 110 152 (7) 145 – –
Floating rate interest
Pound sterling 301 691 992 302 (5) 297 853 738 1,591 – –
Euro – – – 155 – 155 769 (769) – – –
Total floating rate interest financial
liabilities 301 691 992 457 (5) 452 1,622 (31) 1,591 – –
Total interest bearing financial
liabilities 6,249 445 6,694 567 (5) 562 1,774 (38) 1,736 – –
Non interest bearing financial
liabilities
Pound sterling –––––––––4,034 272
Euro –––––––––8569
US dollar –––––––––1788
Other –––––––––107–
Total 6,249 445 6,694 567 (5) 562 1,774 (38) 1,736 5,175 289
Maturity profile of interest bearing
financial liabilities based on
contractual repricing dates
Less than one year 843 149 992 457 (5) 452 1,626 (31) 1,595
Between one and two years ––––––147(7)140
Between two and three years 108 (108) ––––1–1
Between three and four years 2,283 227 2,510 ––––––
Between four and five years –––––––––
Greater than five years 3,015 177 3,192 110 – 110 – – –
Total interest bearing financial
liabilities 6,249 445 6,694 567 (5) 562 1,774 (38) 1,736
Weighted average effective fixed
interest rates
%%%%%%
Pound sterling 7.3 9.1 10.4 10.4 10.2 10.2
Euro 7.5 –– –– –
US dollar 8.6 –– –– –
aAdjustment for hedging and interest reflects the effect of currency derivatives; reclassifies the carrying amount to reflect interest derivatives; and excludes interest and fair value adjustments for
hedged risk recognised in carrying amounts.
bThe carrying amount excludes £1,544 million of current and £590 million of non current trade and other payables which relate to non financial liabilities.
cThe carrying amount excludes £36 million of non current provisions which relate to non financial liabilities.
Consolidated financial statements Notes to the consolidated financial statements
130 BT Group plc Annual Report & Form 20-F