BT 2016 Annual Report Download - page 210

216 BT Group plc
Annual Report 2016
27. Financial instruments and risk management continued
Short and medium-term requirements are regularly reviewed and managed by the treasury operation within the parameters of the policies
set by theBoard. The group holds cash, cash equivalents and current investments in order to manage short‑term liquidity requirements.
At 31 March 2016 the group had undrawn committed borrowing facilities of £1.5bn (2014/15: £1.5bn) maturing in September 2020
with the option to renew to September 2021.
Maturity analysis
The following table provides an analysis of the remaining contractually-agreed cash flows including interest payable for the group’s non-
derivative financial liabilities on an undiscounted basis, which therefore differs from both the carrying value and fair value.
Non-derivative financial liabilities
At 31 March 2016
Loans
and other
borrowings
£m
Interest on
loans
and other
borrowings
£m
Trade
and other
payables
£m
Provisions
£m
Total
£m
Due within one year 3,059 491 5,24450 8,844
Between one and two years 1,632 435 –30 2,097
Between two and three years 1,488 357 –25 1,870
Between three and four years 1,104 343 –15 1,462
Between four and five years 1,200 308 –16 1,524
After five years 5,429 2,885 –326 8,640
13,912 4,819 5,244462 24,437
Interest payments not yet accrued –(4,641) – – (4,641)
Fair value adjustmenta179 –––179
Impact of discounting – – – (166) (166)
Carrying value on the balance sheetb14,091 178 5,24429619,809
At 31 March 2015
Loans
and other
borrowings
£m
Interest on
loans
and other
borrowings
£m
Trade
and other
payables
£m
Provisions
£m
Total
£m
Due within one year 1,706 513 3,784 32 6,035
Between one and two years 1,431 458 –19 1,908
Between two and three years 1,251 392 –15 1,658
Between three and four years 549 315 –15 879
Between four and five years 1,033 302 –13 1,348
After five years 3,461 2,973 –218 6,652
9,431 4,953 3,784 312 18,480
Interest payments not yet accrued –(4,759) – – (4,759)
Fair value adjustment 143 – – – 143
Impact of discounting – – – (104) (104)
Carrying value on the balance sheetb9,574 194 3,784 208 13,760
a Includes a £49m adjustment to EE’s long-term debt on acquisition to reflect it at fair value.
b Foreign 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.
Trade and other payables are held at amortised cost. The carrying amount of these balances approximates to fair value due to the short
maturity of amounts payable.