Singapore Airlines 2014 Annual Report Download - page 191

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189
ANNUAL REPORT FY2013/14
37 Financial Instruments (in $ million) (continued)
(b) Fair values
Financial instruments carried at fair value
Fair value hierarchy
The following table shows an analysis of financial instruments carried at fair value by level of fair value hierarchy:
The Group
31 March 2014 31 March 2013
Quoted Quoted
prices in prices in
active Significant active Significant
markets for other markets for other
identical observable identical observable
instruments inputs instruments inputs
(Level 1) (Level 2) (Level 1) (Level 2)
Financial assets:
Available-for-sale investments
Quoted investments
- Government securities 3.7 - 3.0 -
- Equity investments 347.7 - 166.5 -
- Non-equity investments 186.2 - 279.5 -
Unquoted investments
- Non-equity investments - 323.9 - 143.5
Derivative assets
Equity swap derivative - 20.3 - -
Currency hedging contracts - 10.0 - 24.2
Fuel hedging contracts - 100.6 - 52.7
Interest rate cap contracts - 3.2 - 2.2
537.6 458.0 449.0 222.6
Financial liabilities:
Derivative liabilities
Currency hedging contracts - 27.9 - 19.2
Fuel hedging contracts - 1.3 - 6.5
Cross currency swap contracts - 25.0 - 40.7
Interest rate swap contracts - 2.6 - 6.8
- 56.8 - 73.2
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)
There has been no transfer between level 1 and level 2 during the financial year.