Singapore Airlines 2008 Annual Report Download - page 125

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Singapore Airlines Annual Report 2007-08
123
16 Other Reserves (in $ million) (continued)
(d) Fair value reserve (continued)
Fair value changes of derivative financial instruments designated as hedging instruments in cash flow hedges:
The Group The Company
31 March 31 March
2008 2007 2008 2007
Balance at 1 April (73.3) 154.5 (40.0) 30.6
Net gain/(loss) on fair value changes 515.8 (227.8) 239.0 (70.6)
Balance at 31 March 442.5 (73.3) 199.0 (40.0)
Net gain/(loss) on fair value changes 408.0 (232.4) 326.9 (180.6)
Share of associated companies’ net gain/
(loss) on fair value reserve 224.2 (134.5) - -
Recognised in the carrying value of non-financial
assets on occurrence of capital expenditure
commitments 11.2 - 11.2 -
Recognised in the profit and loss account on
occurrence of:
Disposal of joint venture company recognised in
“Exceptional items” - (2.8) - -
Fuel hedging contracts recognised in “Fuel costs” (232.2) 118.9 (183.3) 94.0
Foreign currency contracts recognised in
“Other operating expenses” 106.1 15.7 84.2 13.4
Interest rate swap contracts recognised in
“Finance charges” (1.5) 7.3 - 2.6
515.8 (227.8) 239.0 (70.6)
Total fair value reserve 443.4 (45.5) 198.6 (18.1)
17 Deferred Account (in $ million)
The Group The Company
31 March 31 March
2008 2007 2008 2007
Deferred gain on sale and leaseback transactions
- operating leases 272.2 374.8 190.0 261.3
- finance leases 45.1 49.3 - -
317.3 424.1 190.0 261.3
Deferred credit 470.0 549.5 470.0 549.5
787.3 973.6 660.0 810.8
NOTES TO THE FINANCIAL STATEMENTS
31 March 2008