BT 2012 Annual Report Download - page 153
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150 Financial statements
Notes to the consolidated financial statements
26. Financial instruments and risk management continued
Analysed by earliest payment datebAnalysed based on holding instrument to maturity
Derivatives – Derivatives – Derivatives – Derivatives –
Derivatives – gross settled gross settled Derivatives – gross settled gross settled
Derivative financial liabilities net settled outflows inflows Total net settled outflows inflows Total
At 31 March 2012 £m £m £m £m £m £m £m £m
Due within one year 228 1,568 (1,530) 266 57 1,568 (1,530) 95
Between one and two years 238 579 (546) 271 57 90 (83) 64
Between two and three years 473 1,189 (1,192) 470 44 1,205 (1,209) 40
Between three and four years 253 105 (101) 257 72 20 (20) 72
Between four and five years – – – – 72 20 (20) 72
After five years – – – – 890 538 (507) 921
Totala1,192 3,441 (3,369) 1,264 1,192 3,441 (3,369) 1,264
Analysed by earliest payment datebAnalysed based on holding instrument to maturity
Derivatives – Derivatives – Derivatives – Derivatives –
Derivatives – gross settled gross settled Derivatives – gross settled gross settled
net settled outflows inflows Total net settled outflows inflows Total
At 31 March 2011 £m £m £m £m £m £m £m £m
Due within one year 132 919 (882) 169 62 397 (388) 71
Between one and two years 553 411 (397) 567 62 427 (413) 76
Between two and three years 234 4 (4) 234 62 20 (20) 62
Between three and four years 276 4 (4) 276 62 20 (20) 62
Between four and five years 63 103 (101) 65 62 20 (20) 62
After five years (120) – – (120) 828 557 (527) 858
Totala1,138 1,441 (1,388) 1,191 1,138 1,441 (1,388) 1,191
aForeign currency-related cash flows were translated at closing rates as at the relevant reporting date. Future variable interest rate cash flows were calculated using the most recent rate applied at the
relevant balance sheet date.
bCertain derivative financial instruments contain break clauses whereby either the group or bank counterparty can terminate the swap on certain dates and the mark to market position is settled in
cash.
Price risk
The group has limited exposure to price risk.
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