Ryanair 2011 Annual Report Download - page 155
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153
The main risks attaching to the Company’s financial instruments, the Company’s strategy and approach
to managing these risks, and the details of the derivatives employed to hedge against these risks have been
disclosed in Note 5 to the consolidated financial statements.
(a) Financial assets and financial liabilities – fair values
The carrying value and fair value of the Company’s financial assets by class and measurement category
at March 31, 2011, 2010 and 2009 were as follows:
Available
For Sale
Cash-Flow
Hedges
Fair-Value
Hedges
Loans and
Receivables
Total
Carrying
Value
Total Fair
Value
1M 1M 1M 1M 1M 1M
At March 31, 2011
Available-for-sale financial assets
................................
114.0 - - - 114.0 114.0
Cash and cash equivalents
................................
- - - 2,028.3 2,028.3 2,028.3
Financial asset: cash > 3 months
................................
- - - 869.4 869.4 869.4
Restricted cash ................................
................................
- - - 42.9 42.9 42.9
Derivative financial instruments
- Jet fuel derivative contracts
................................
- 383.8 - - 383.8 383.8
- Interest rate swaps ................................
................................
- 23.9 - - 23.9 23.9
Trade receivables ................................
................................
- - - 50.6 50.6 50.6
Total financial assets at March 31,
2011 ................................
................................
114.0 407.7 - 2,991.2 3,512.9 3,512.9
Available
For Sale
Cash-Flow
Hedges
Fair-Value
Hedges
Loans and
Receivables
Total
Carrying
Value
Total Fair
Value
1M 1M 1M 1M 1M 1M
At March 31, 2010
Available-for-sale financial assets
................................
116.2 - - - 116.2 116.2
Cash and cash equivalents
................................
- - - 1,477.9 1,477.9 1,477.9
Financial asset: cash > 3 months
................................
- - - 1,267.7 1,267.7 1,267.7
Restricted cash ................................
................................
- - - 67.8 67.8 67.8
Derivative financial instruments
- U.S. dollar currency forward
contracts ................................
................................
- 99.8 - - 99.8 99.8
- U.K. pounds sterling currency forward
contracts….……………………………...
- 3.0 - - 3.0 3.0
- Jet fuel derivative contracts
................................
- 42.6 - - 42.6 42.6
Trade receivables ................................
................................
- - - 44.3 44.3 44.3
Total financial assets at March 31,
2010 ................................
................................
116.2 145.4 - 2,857.7 3,119.3 3,119.3