EasyJet 2013 Annual Report Download - page 122

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 easyJet plc Annual report and accounts 2013
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Notes to the accounts continued
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The cumulative net (losses)/gains deferred in shareholders’ equity and their expected maturities are as follows:
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Hedges of transaction currency risk   
Hedges of jet fuel price risk   
  
Related deferred tax 
 
At 30 September 2012 Within 1 year
£ million
1-2 years
£ million
Total
£ million
Hedges of transaction currency risk 17 (8) 9
Hedges of jet fuel price risk 39 5 44
56 (3) 53
Related deferred tax (11)
42

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2012
£ million
Gains on cash flow hedges recycled from other comprehensive income in income 
statement captions: 
Revenue  21
Fuel  51
Maintenance  –
Aircraft lease costs  1
Other costs ± 1
 74
#DQHU@SHUDRCDRHFM@SDC@RGDKCENQSQ@CHMF
easyJet had material net monetary liabilities denominated in US dollars at 30 September 2012. In accordance with IAS21,
monetary assets and liabilities are revalued using exchange rates at the balance sheet date. This exposure is managed
by the use of forward foreign exchange contracts.
Net US dollar monetary liabilities were as follows:
2012
$ million
Cash and money market deposits 619
Borrowings (1,245)
Maintenance provisions (280)
Other 39
Net monetary liabilities (867)
Forward US dollar contracts 850
(17)
120 easyJet plc Annual report and accounts 2013