Singapore Airlines 2011 Annual Report Download - page 144

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SINGAPORE AIRLINES
142
NOTES TO THE FINANCIAL STATEMENTS
31 March 2011
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
2011 2010 2011 2010
Balance at 1 April (145.9) (655.8) (85.3) (494.1)
Net gain/(loss) on fair value changes 4.9 509.9 (8.9) 408.8
Balance at 31 March (141.0) (145.9) (94.2) (85.3)
(Loss)/Gain on fair value changes (67.8) 45.8 (69.7) 36.0
Share of associated companies’ net (loss)/gain
on fair value reserve (1.7) 0.8 - -
Recognised in the carrying value of
non-financial assets on occurrence of capital
expenditure commitments 8.1 6.3 8.1 6.3
Recognised in the profit and loss account on
occurrence of:
Fuel hedging contracts recognised in “Fuel costs” 51.5 463.1 41.4 381.8
Foreign currency contracts recognised in
“Other operating expenses” 7.7 (14.0) 11.3 (15.3)
Interest rate swap contracts recognised in
“Finance charges” 7.1 7.9 - -
4.9 509.9 (8.9) 408.8
Total fair value reserve (138.0) (140.9) (94.2) (85.3)
17 Deferred Account (in $ million)
The Group The Company
31 March 31 March
2011 2010 2011 2010
Deferred gain on sale and leaseback transactions
- operating leases 9.2 82.0 7.7 62.6
- finance leases 14.9 17.4 - -
24.1 99.4 7.7 62.6
Deferred credit 323.0 381.3 323.0 381.3
347.1 480.7 330.7 443.9