Experian 2010 Annual Report Download - page 130
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Experian Annual Report 2010 Financial statements128
Notes to the Group nancial statements (continued)
27. Other nancial assets and liabilities
(a) Analysis of other nancial assets and liabilities reported in the Group balance sheet:
Assets Current
2010
US$m
Non-current
2010
US$m
Current
2009
US$m
Non-current
2009
US$m
Bank deposits - 44 - 29
Derivative nancial instruments:
Fair value hedge of borrowings - interest rate swaps - 43 14 32
Derivatives used for hedging - 43 14 32
Non-hedging derivatives - equity swaps 16 1 - -
Non-hedging derivatives - foreign exchange contracts 2 - 7 -
Assets at fair value through prot and loss 18 1 7 -
Derivative nancial instruments 18 44 21 32
Other derivatives 9 - - -
Total other nancial assets 27 88 21 61
The bank deposits included above comprise amounts held with an A rated counterparty as collateral against derivative
contracts (see note 22).
Liabilities Current
2010
US$m
Non-current
2010
US$m
Current
2009
US$m
Non-current
2009
US$m
Derivative nancial instruments:
Fair value hedge of borrowings - cross currency swaps - 35 - -
Derivatives used for hedging - 35 - -
Non-hedging derivatives - equity swaps - - 1 1
Non-hedging derivatives - foreign exchange contracts 5 - 12 -
Non-hedging derivatives - interest rate swaps 15 50 9 74
Liabilities at fair value through prot and loss 20 50 22 75
Derivative nancial instruments 20 85 22 75
Put option in respect of Serasa minority interest - 661 - 424
Put option in respect of other minority interests - 8
- -
Total other nancial liabilities 20 754 22 499
The accounting policies for nancial instruments set out in note 4 have been applied as appropriate to the above items. Amounts
recognised in the Group income statement in connection with the Group's hedging instruments are disclosed in note 11.
There is no material difference between the fair values of these assets and liabilities and the book values stated above.
There are put and call options associated with the shares held by the minority shareholders in Serasa and these are exercisable
for a period of ve years from June 2012.
(b) The fair value and notional principal amounts at the balance sheet dates in respect of the Group’s derivative nancial
instruments are as follows:
2010 2009
Assets Liabilities Assets Liabilities
Fair value
US$m
Notional
US$m
Fair value
US$m
Notional
US$m
Fair value
US$m
Notional
US$m
Fair value
US$m
Notional
US$m
Interest rate swaps 43 507 65 1,275 46 770 83 1,570
Cross currency swaps - - 35 707 - - - -
Equity swaps 17 47 - - - 29 2 11
Foreign exchange contracts 2 188 5 176 7 262 12 380
62 742 105 2,158 53 1,061 97 1,961