BT 2012 Annual Report Download - page 154
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Financial statements
Notes to the consolidated financial statements
26. Financial instruments and risk management continued
Fair value of financial instruments
The table below shows the accounting classification and the carrying and fair values of all of the group’s financial assets and financial liabilities at
31 March 2012 and 31 March 2011. None of the financial instruments have been reclassified during the year.
Fair value Designated Designated
through in a in a Total
Loans and profit cash flow fair value Available- carrying Fair
Financial assets receivables and loss hedge hedge for-sale value value
At 31 March 2012 Notes £m £m £m £m £m £m £m
Non-derivative financial assets
Investments 22 8 10 – – 563 581 581
Cash and cash equivalents 23 331––––331331
Trade and other receivablesa17 2,477––––2,477 2,477
Total non-derivative financial assets 2,816 10 – – 563 3,389 3,389
Derivative financial assetsb
Cross currency swaps – – 769 – – 769 769
Interest rate swaps – 171 – 82 – 253 253
Forward foreign exchange contracts – 1–––11
Total derivative financial assets – 172 769 82 – 1,023 1,023
Total financial assets 2,816 182 769 82 563 4,412 4,412
Fair value Designated Designated
through in a in a Total
Loans and profit cash flow fair value Available- carrying Fair
receivables and loss hedge hedge for-sale value value
At 31 March 2011 Notes £m £m £m £m £m £m £m
Non-derivative financial assets
Investments 22 7 11 – – 62 80 80
Cash and cash equivalents 23 351––––351351
Trade and other receivablesa17 2,558––––2,558 2,558
Total non-derivative financial assets 2,916 11 – – 62 2,989 2,989
Derivative financial assets
Cross currency swaps – – 622 – – 622 622
Interest rate swaps – 99 – 4 – 103 103
Forward foreign exchange contracts – 5 3 – – 8 8
Total derivative financial assetsb– 104 625 4 – 733 733
Total financial assets 2,916 115 625 4 62 3,722 3,722
aExcludes prepayments of £671m (2011: £570m), other receivables £159m (2011: £204m) and other non-current assets of £169m (2011: £286m).
bCurrent derivative financial assets of £137m (2011: £108m) consists of cross-currency swaps of £100m (2011: £63m), interest rate swaps of £36m (2011: £37m) and forward foreign exchange
contracts of £1m (2011: £8m). Non-current derivative financial assets of £886m (2011: £625m) consists of cross-currency swaps of £669m (2011: £559m) and interest rate swaps of £217m
(2011: £66m).
Overview
BusinessStrategy
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BusinessStrategy
Performance
Governance
Financial statements
Additional information