Ryanair 2011 Annual Report Download - page 163
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161
The following table shows the net amount of monetary assets of the Company that are not denominated
in euro at March 31, 2011, 2010 and 2009. Such amounts have been translated using the following year-end
foreign currency rates in 2011: 1/£: 0.8837; 1/$: 1.4207 (2010: 1/£: 0.8898; 1/$: 1.3479, 2009: 1/£: 0.9308; 1/$:
1.3308).
March 31, 2011 March 31, 2010 March 31, 2009
GBP U.S.$
euro
equiv. GBP U.S.$
euro
equiv. GBP U.S.$
euro
equiv.
£M $M 1M
£M $M 1M £M $M 1M
Monetary assets
U.K. pounds
sterling cash and
liquid resources
................................
33.8 - 38.2 35.6 - 40.0 24.4 - 26.3
USD cash and
liquid resources
................................
-
-
-
-
12.4
9.2
-
13.9
10.4
33.8 - 38.2 35.6 12.4 49.2 24.4 13.9 36.7
The following table shows the net amount of monetary liabilities of the Company that are not
denominated in euro at March 31, 2011, 2010 and 2009. Such amounts have been translated using the following
year-end foreign currency rates in 2011: 1/$: 1.4207.
March 31, 2011 March 31, 2010 March 31, 2009
U.S.$
euro
equiv. U.S.$
euro
equiv. U.S.$
euro
equiv.
$M 1M
$M 1M $M 1M
Monetary liabilities
USD long term debt ...........................................
341.3
240.2
-
-
-
-
341.3 240.2 - - - -
The Company has entered into cross currency interest rate swap arrangements to manage exposures to
fluctuations in foreign exchange rates on these US dollar denominated floating rate borrowings, together with
managing the exposures to fluctuations in interest rates on these US dollar denominated floating rate
borrowings. The fair value of these cross currency interest rate swap instruments at March 31, 2011 was 17.9
million, which has been classified within current liabilities, specifically derivative liabilities falling due within
one year (see Note 5 to the consolidated financial statements).
The following table gives details of the notional amounts of the Company’s currency forward contracts
as at March 31, 2011, 2010 and 2009:
March 31, 2011 March 31, 2010 March 31, 2009
Currency forward contracts U.S.$
euro
equiv. U.S.$
euro
equiv. U.S.$
euro
equiv.
$M 1M $M 1M $M 1M
U.S. dollar currency forward
contracts
- for fuel purchases
................................
2,552.6
1,887.2
1,437.4 770.4 1,780.1 1,268.8
- for aircraft sales
................................
-
-
- - (101.5) (75.8)
- for aircraft purchases
................................
584.2 410.8 1,123.8 1,021.8 1,464.0 985.0
3,136.8 2,298.0 2,561.2 1,792.2 3,142.6 2,178.0