Singapore Airlines 2010 Annual Report Download - page 181

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ANNUAL REPORT 2009/10
179
37 Financial Instruments (in $ million) (continued)
(b) Fair values
Financial instruments carried at fair value
The following table shows an analysis of financial instruments carried at fair value by level of fair value hierarchy:
The Group
31 March 2010
Quoted prices in
active markets for Significant other
identical instruments observable inputs
(Level 1) (Level 2) Total
Financial assets:
Available-for-sale financial assets (Note 30)
Quoted investments
- Government securities 11.6 - 11.6
- Equity investments 34.1 - 34.1
- Non-equity investments 14.9 - 14.9
Unquoted investments
- Government securities - 80.0 80.0
Derivative financial instruments
Currency hedging contracts - 20.7 20.7
Fuel hedging contracts - 5.7 5.7
Cross currency swap contracts - 7.7 7.7
Interest rate cap contracts - 23.9 23.9
60.6 138.0 198.6
Financial liabilities:
Derivative financial instruments
Currency hedging contracts - 17.3 17.3
Fuel hedging contracts - 112.9 112.9
Cross currency swap contracts - 43.5 43.5
Interest rate swap contracts - 29.9 29.9
- 203.6 203.6
Fair value hierarchy
The Group classifies fair value measurement using a fair value hierarchy that reflects the significance of the
inputs used in making the measurements. The fair value hierarchy has the following levels:
• Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities
• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability,
either directly (i.e., as prices) or indirectly (i.e., derived from prices)