Singapore Airlines 2016 Annual Report Download - page 154

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Notes to the Financial Statements
31 March 2016
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
31 March
The Company
31 March
2016 2015 2016 2015
Balance at 1 April (721.5) 26.5 (595.2) 17.4
Net gain/(loss) on fair value changes 98.6 (748.0) 108.6 (612.6)
Balance at 31 March (622.9) (721.5) (486.6) (595.2)
Loss on fair value changes (655.1) (1,208.3) (572.8) (986.0)
Share of associated and joint venture companies' net loss on
fair value reserve (10.8) (13.2) – –
Net changes in fair value of cash flow hedges reclassified to
carrying amount of an associated company (0.8) – – –
Acquisition of non-controlling interests without a change
in control (11.1) – – –
Realisation of reserves on disposal of an associated company – 4.0 – –
Recognised in the carrying value of non-financial assets on
occurrence of capital expenditure commitments (41.4) (14.1) (31.3) (14.1)
Recognised in the profit and loss account on occurrence of:
Fuel hedging contracts recognised in "Fuel costs" 883.3 466.9 768.1 370.5
Foreign currency contracts recognised in
"Other operating expenses" (77.4) (9.2) (66.7) (6.8)
Cross currency swap contracts recognised in
"Lease rentals" 0.1 – 0.1 –
Interest rate swap contracts recognised in "Lease rentals" 11.2 23.8 11.2 23.8
Interest rate swap contracts recognised in
"Finance charges" 0.6 2.1 – –
98.6 (748.0) 108.6 (612.6)
Total fair value reserve (498.6) (706.2) (470.9) (581.8)
(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.
Singapore Airlines152
FINANCIAL