Singapore Airlines 2009 Annual Report Download - page 148

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146
15 Other Reserves (in $ million) (continued)
(d) Fair value reserve (continued)
Fair value changes of derivative fi nancial instruments designated as hedging instruments in cash
fl ow hedges:
The Group The Company
31 March 31 March
2009 2008 2009 2008
Balance at 1 April 442.5 (73.3) 199.0 (40.0)
Net (loss)/gain on fair value changes (1,098.3) 515.8 (693.1) 239.0
Balance at 31 March (655.8) 442.5 (494.1) 199.0
Net (loss)/gain on fair value changes (1,099.1) 385.0 (904.3) 309.1
Share of associated companies’ net (loss)/gain
on fair value reserve (242.7) 224.2 - -
Recognised in the carrying value of
non-fi nancial assets on occurrence of
capital expenditure commitments 20.6 11.2 20.6 11.2
Recognised in the profi t and loss
account on occurrence of:
Fuel hedging contracts recognised in “Fuel costs” 289.1 (190.4) 251.5 (150.3)
Foreign currency contracts recognised in
“Other operating expenses” (69.4) 87.0 (60.9) 69.0
Interest rate swap contracts recognised
in “Finance charges” 3.2 (1.2) - -
(1,098.3) 515.8 (693.1) 239.0
Total fair value reserve (660.8) 443.4 (496.0) 198.6
16 Deferred Account (in $ million)
The Group The Company
31 March 31 March
2009 2008 2009 2008
Deferred gain on sale and leaseback transactions
- operating leases 164.3 272.2 113.5 190.0
- fi nance leases 40.8 45.1 - -
205.1 317.3 113.5 190.0
Deferred credit 468.8 470.0 468.8 470.0
673.9 787.3 582.3 660.0
NOTES TO THE FINANCIAL STATEMENTS
31 March 2009