Creative 2014 Annual Report Download - page 57

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57
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
US$’000
    Total
Group
2014
Financial assets, available-for-sale
– Listed equity securies 13,666 – – 13,666
– Unlisted equity securies – – 7,942 7,942
13,666 – 7,942 21,608
2013
Financial assets, available-for-sale
– Listed equity securies 14,059 – – 14,059
– Unlisted equity securies – – 8,595 8,595
14,059 – 8,595 22,654
Fair values for listed equity securities are determined using quoted market prices at the balance sheet date. These instruments
are included in Level 1.
Fair values for unlisted equity securities are determined by using valuation techniques. The Group uses a variety of methods,
such as asset values, and makes assumptions that are based on market conditions existing at each balance sheet date. These
instruments are included in Level 3.
As at 30 June 2014, the Group does not have any outstanding bank borrowings and the Group is not subject to any externally
imposed capital requirements.
(e) Fair value measurements
The following table presents assets and liabilities measured at fair value and classied by level of the following fair value
measurement hierarchy:
(a) quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1);
(b) inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly
(ie. as prices) or indirectly (ie. derived from prices) (Level 2); and
(c) inputs for the asset or liability that are not based on observable market data (unobservable inputs) (Level 3).
Group
2014 2013
US$’000 US$’000
Group
Beginning of nancial year 8,595 10,154
Purchase of level 3 securies 250 1,000
Disposals (733) (1,576)
Fair value gain recognised in
- other comprehensive income 690 1,217
Impairment losses (860) (2,200)
End of nancial year 7,942 8,595
The changes in Level 3 instruments are as follows:
(f) Financial instruments by category
The carrying amount of the different categories of nancial instruments is as disclosed on the face of the balance sheet and
in Note 10, Note 11, Note 14, Note 15, Note 19, Note 20 and Note 21 to the nancial statements.