BT 2007 Annual Report Download - page 133

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33. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT continued
The floating rate financial liabilities bear interest rates fixed in advance for periods ranging from one day to one year by reference to
LIBOR quoted rates.
Financial assets
The following tables set out the exposure of financial assets to market pricing and interest cash flow risk and currency risk. The
maturity profile of financial assets reflects the contractual repricing dates.
2007
Current
investments
Effect of
hedging
and interesta
Adjusted
current
investments
Non current
investments
Cash and
cash
equivalents
Effect of
hedging
and interesta
Adjusted
cash and
cash
equivalents
Trade and
other
receivablesb
£m £m £m £m £m £m £m £m
Fixed rate interest
Pound sterling 3–3–––––
Total fixed rate financial assets 3–3–––––
Floating rate interest
Pound sterling – – – – 687 – 687 –
Euro – – – – 188 – 188 –
US dollar – – – – 106 – 106 –
Other ––––94–94–
Total floating rate financial assets – – – – 1,075 – 1,075 –
Total interest bearing financial assets 3 – 3 – 1,075 – 1,075 –
Non interest bearing financial assets
Pound sterling – – – 14 – – – 2,393
Euro –––––––393
US dollar – – – 9 – – – 302
Other –––4–––63
Total 3 – 3 27 1,075 – 1,075 3,151
aAdjustment for hedging and interest reflects the effect of currency derivatives; reclassifies the carrying amount to reflect interest derivatives; and excludes interest recognised in carrying amounts.
bThe carrying amount excludes £922 million of current and £523 million of non current trade and other receivables which relate to non-financial assets.
2006
Current
investments
Effect of
hedging
and interesta
Adjusted
current
investments
Non current
investments
Cash and
cash
equivalents
Effect of
hedging
and interesta
Adjusted
cash and
cash
equivalents
Trade and
other
receivablesb
£m £m £m £m £m £m £m £m
Fixed rate interest
Pound sterling 3 – 3 – 19 – 19 –
Euro – – – – 6 – 6 –
Total fixed rate financial assets 3 – 3 – 25 – 25 –
Floating rate interest
Pound sterling 14 342 356 – 1,127 422 1,549 –
Euro – – – – 215 – 215 –
US dollar 348 (348) – – 522 (422) 100 –
Other – – – – 76 – 76 –
Total floating rate financial assets 362 (6) 356 – 1,940 – 1,940 –
Total interest bearing financial assets 365 (6) 359 – 1,965 – 1,965 –
Non interest bearing financial assets
Pound sterling – – – 12 – – – 2,218
Euro – – – 1 – – – 647
US dollar – – – 2 – – – 269
Other – – – 2 – – – 74
Total 365 (6) 359 17 1,965 – 1,965 3,208
aAdjustment for hedging and interest reflects the effect of currency derivatives; reclassifies the carrying amount to reflect interest derivatives; and excludes interest recognised in carrying amounts.
bThe carrying amount excludes £686 million of current and £305 million of non current trade and other receivables which relate to non-financial assets.
Consolidated financial statements Notes to the consolidated financial statements
132 BT Group plc Annual Report & Form 20-F