Ryanair 2012 Annual Report Download - page 159

Download and view the complete annual report

Please find page 159 of the 2012 Ryanair annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 194

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194

159
The table below analyses financial instruments carried at fair value in the balance sheet categorised by
the type of valuation method used. The different valuation levels are defined as follows:
Level 1: Inputs are based on unadjusted quoted prices in active markets for identical instruments.
Level 2: Inputs are based on quoted prices for identical or similar instruments in markets that are not
active, quoted prices for similar instruments in active markets, and model-based valuation techniques for
which all significant assumptions are observable in the market or can be corroborated by observable
market data for substantially the full term of the asset or liability.
Level 3: Inputs for the asset or liability are not based on observable market data.
Level 1
Level 2
Level 3
Total
€M
€M
€M
€M
At March 31, 2012
Assets measured at fair value
Available-for-sale financial asset ................................................................
149.7
-
-
149.7
Cash-flow hedges – US dollar currency forward contracts ................................
-
89.4
-
89.4
Cash-flow hedges – jet fuel derivative contracts ................................
-
145.8
-
145.8
149.7
235.2
-
384.9
Liabilities measured at fair value
Cash-flow hedges – interest rate swaps ................................................................
-
(80.3)
-
(80.3)
Cash-flow hedges – carbon swaps................................................................
-
(1.5)
-
(1.5)
-
(81.8)
-
(81.8)
During the year ended March 31, 2012, there were no transfers between Level 1 and Level 2 fair-value
measurements, and no transfers into or out of Level 3 fair-value measurement.
Level 1
Level 2
Level 3
Total
€M
€M
€M
€M
At March 31, 2011
Assets measured at fair value
Available-for-sale financial asset ................................................................
114.0
-
-
114.0
Cash-flow hedges – jet fuel derivative contracts ................................
-
383.8
-
383.8
Cash-flow hedges – interest rate swaps ................................................................
-
23.9
-
23.9
114.0
407.7
-
521.7
Liabilities measured at fair value
Cash-flow hedges – US dollar currency forward contracts ................................
-
(72.0)
-
(72.0)
Cash-flow hedges – interest rate swaps ................................................................
-
(61.7)
-
(61.7)
-
(133.7)
-
(133.7)
During the year ended March 31, 2011, there were no transfers between Level 1 and Level 2 fair-value
measurements, and no transfers into or out of Level 3 fair-value measurement.
Level 1
Level 2
Level 3
Total
€M
€M
€M
€M
At March 31, 2010
Assets measured at fair value
Available-for-sale financial asset ................................................................
116.2
-
-
116.2
Cash-flow hedges – US dollar currency forward contracts ................................
-
99.8
-
99.8
Cash-flow hedges – GBP currency forward contracts ................................
-
3.0
-
3.0
Cash-flow hedges – jet fuel derivative contracts ................................
-
42.6
-
42.6
116.2
145.4
-
261.6
Liabilities measured at fair value
Cash-flow hedges – interest rate swaps ................................................................
-
(76.4)
-
(76.4)
-
(76.4)
-
(76.4)
During the year ended March 31, 2010, there were no transfers between Level 1 and Level 2 fair-value
measurements, and no transfers into or out of Level 3 fair-value measurement.