Singapore Airlines 2012 Annual Report Download - page 146

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144 SINGAPORE AIRLINES
Notes to the Financial Statements
31 March 2012
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
2012 2011 2012 2011
Balance at 1 April (141.0) (145.9) (94.2) (85.3)
Net gain/(loss) on fair value changes 92.6 4.9 84.7 (8.9)
Balance at 31 March (48.4) (141.0) (9.5) (94.2)
Gain/(Loss) on fair value changes 16.2 (67.8) 14.9 (69.7)
Share of associated companies’ net gain/(loss)
on fair value reserve 0.6 (1.7) - -
Recognised in the carrying value of non-financial
assets on occurrence of capital expenditure commitments 35.9 8.1 35.9 8.1
Recognised in the profit and loss account on occurrence of:
Fuel hedging contracts recognised in “Fuel costs” (19.9) 51.5 (16.5) 41.4
Foreign currency contracts recognised in
“Other operating expenses” 53.9 7.7 50.4 11.3
Interest rate swap contracts recognised in “Finance charges” 5.9 7.1 - -
92.6 4.9 84.7 (8.9)
Total fair value reserve (47.6) (138.0) (9.8) (94.2)
(e) General reserve
General reserve comprises mainly retained earnings of the Group and the Company. Movements in the Group’s and
the Company’s general reserves are set out in the Statement of Changes in Equity respectively.
17฀ Deferred฀Account฀(in฀$฀million)
The Group The Company
31 March 31 March
2012 2011 2012 2011
Deferred (loss)/gain on sale and leaseback transactions
- operating leases (39.7) 9.2 (33.7) 7.7
- finance leases 12.5 14.9 - -
(27.2) 24.1 (33.7) 7.7
Deferred credit 199.9 323.0 199.9 323.0
172.7 347.1 166.2 330.7
Presented as:
- Non-current assets (51.7) - (33.7) -
- Non-current liabilities 224.4 347.1 199.9 330.7
172.7 347.1 166.2 330.7