Ryanair 2016 Annual Report Download - page 175

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175
The following provides an analysis of changes in borrowings during the year:
At March 31,
2016
2015
2014
€M
€M
€M
Balance at start of year
4,431.6
3,083.6
3,498.3
Loans raised to finance aircraft acquisitions– euro
—
1,690.9
—
Repayments of amounts borrowed
(384.9)
(419.7)
(390.8)
Foreign exchange loss/(gain) on conversion of U.S. dollar loans
(23.7)
76.8
(23.9)
Balance at end of year
4,023.0
4,431.6
3,083.6
Less than one year
449.9
399.6
467.9
More than one year
3,573.1
4,032.0
2,615.7
4,023.0
4,431.6
3,083.6
The maturities of the contractual undiscounted cash flows (including estimated future interest payments on debt)
of the Company’s financial liabilities are as follows:
Total
Total
Carrying
Contractual
Value
Cash flows
2017
2018
2019
2020
Thereafter
At March 31, 2016
€M
€M
€M
€M
€M
€M
€M
Long term debt and finance
leases: -
-Fixed rate debt (excluding
Swapped debt)
2,459.5
2,678.4
188.4
199.9
177.8
80.4
2,031.9
-Swapped to fixed rate debt
827.0
849.9
161.9
237.6
159.4
86.0
205.0
- Fixed rate debt
2.20
%
3,286.5
3,528.3
350.3
437.5
337.2
166.4
2,236.9
- Floating rate debt
0.71
%
736.5
746.2
162.5
168.9
155.4
107.2
152.2
4,023.0
4,274.5
512.8
606.4
492.6
273.6
2,389.1
Derivative financial
instruments
- Interest rate swaps
16.2
14.9
11.1
2.8
1.0
—
—
- Currency forward contracts
51.1
51.1
0.6
50.5
—
—
—
- Commodity forward
contracts
599.7
599.7
542.5
57.2
—
—
—
Trade payables
230.6
230.6
230.6
—
—
—
—
Accrued expenses
422.8
422.8
422.8
—
—
—
—
Total at March 31, 2016
5,343.4
5,593.6
1,720.4
716.9
493.6
273.6
2,389.1