Qantas 2009 Annual Report Download - page 149

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147 Qantas Annual Report 2009
Notes to the Financial Statements
for the year ended 30 June 2009
34. Financial Risk Management continued
Carrying Amount Fair Value
2009 2008 2009 2008
QANTAS GROUP Notes $M $M $M $M
Financial assets
Cash and cash equivalents 10 3,617 2,599 3,625 2,625
Tradedebtors 11 824 1,085 824 1,085
Aircraft security deposits 11 42 37 42 38
Sundrydebtors 11 582 702 582 702
Other loans 11 128 143 128 143
Other financial assets 905 1,423 905 1,423
Other investments 15 3 3 3 3
6,101 5,992 6,109 6,019
Financial liabilities
Trade creditors 19 597 670 597 670
Other creditors and accruals 19 1,236 1,504 1,236 1,504
Bankloans–secured 21 2,934 1,692 3,029 1,754
Bankloans–unsecured 21 629 629 641 658
Otherloans–unsecured 21 1,307 1,233 1,358 1,290
Othernancialliabilities 909 1,435 909 1,435
Leaseandhirepurchaseliabilities 21 633 606 637 579
8,245 7,769 8,407 7, 89 0
Net financial liabilities 2,14 4 1,777 2,298 1,871
(D) FAIR VALUE
Thefairvalueofcash,cashequivalentsandnon-interest-bearingnancialassetsandliabilitiesapproximatestheircarryingvalueduetotheirshortmaturity.
Thefairvalueofnancialassetsandliabilitiesisdeterminedbyvaluingthematthepresentvalueoffuturecontractedcashows.
Cashowsarediscountedusingstandardvaluationtechniquesattheapplicablemarketyield,havingregardtothetimingofthecashows.
Thefairvalueofforwardforeignexchangeandfuelcontractsisdeterminedastheunrealisedgain/lossatbalancedatebyreferencetomarketexchange
rates and fuel prices. The fair value of interest rate swaps is determined as the present value of future contracted cash flows. Cash flows are discounted
usingstandardvaluationtechniquesattheapplicablemarketyield,havingregardtothetimingofthecashows.Thefairvalueofoptionsisdetermined
using standard valuation techniques.
OthernancialassetsandliabilitiesrepresentthefairvalueofderivativenancialinstrumentsrecognisedonBalanceSheetinaccordancewithAASB139.