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132
Singapore Airlines Annual Report 05/06
35 Financial Instruments (in $ million) (continued)
(b) Interest rate risk
The following tables set out the carrying amount, by earlier of contractual repricing or maturity dates, of the Group’s and
Company’s fi nancial instruments that are exposed to interest rate risk:
Within 1 1-2 2-3 3-4 4-5 More than
year years years years years 5 years Total
2006
Group
Fixed rate
Bonds 382.4 – – – – – 382.4
Bank overdrafts 0.4 – – – – – 0.4
Notes payable – – – 200.0 – 900.0 1,100.0
Obligations under fi nance leases* 434.3 138.2 17.1 18.4 19.8 68.4 696.2
Floating rate
Obligations under fi nance leases 366.7 2.0 – – – – 368.7
Cash and bank balances 3,151.6 – – – – – 3,151.6
Bank overdrafts 10.0 – – – – – 10.0
Loans 140.7 – – – – – 140.7
Company
Fixed rate
Bonds 382.4 – – – – – 382.4
Notes payable – – – – – 900.0 900.0
Funds from subsidiaries 1,220.9 – – – – – 1,220.9
Obligations under fi nance leases* 419.5 122.3 – – – – 541.8
Floating rate
Cash and bank balances 2,765.1 – – – – – 2,765.1
Bank overdrafts 9.0 – – – – – 9.0
2005
Group
Fixed rate
Bonds 88.6 301.2 – – – – 389.8
Bank overdrafts 0.8 – – – – – 0.8
Notes payable – – – – 200.0 900.0 1,100.0
Obligations under fi nance leases* – 422.8 126.7 – – – 549.5
Floating rate
Obligations under fi nance leases 585.7 – – – – – 585.7
Cash and bank balances 2,840.2 – – – – – 2,840.2
Bank overdrafts 25.4 – – – – – 25.4
Loans 167.8 – – – – – 167.8
Company
Fixed rate
Bonds 88.6 301.2 – – – – 389.8
Notes payable – – – – – 900.0 900.0
Funds from subsidiaries 758.8 – – – – – 758.8
Obligations under fi nance leases* – 422.8 126.7 – – – 549.5
Floating rate
Cash and bank balances 2,509.1 – – – – – 2,509.1
Bank overdrafts 24.3 – – – – – 24.3
* The Group and Company have entered into interest rate swap agreements to swap the fl oating rate lease liabilities into fi xed rate.
NOTES TO THE FINANCIAL STATEMENTS
31 March 2006