Tesco 2010 Annual Report Download - page 130

Download and view the complete annual report

Please find page 130 of the 2010 Tesco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 136

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136

Notes to the Parent Company financial statements continued
Note 10 Derivative financial instruments
The fair value of derivative financial instruments has been disclosed in the Company’s Balance Sheet as:
2010 2009
Asset Liability Asset Liability
£m £m £m £m
Current 208 (116) 291 (373)
Non-current 1,250 (621) 1,473 (194)
Total 1,458 (737) 1,764 (567)
2010 2009
Asset Liability Asset Liability
Fair value Notional Fair value Notional Fair value Notional Fair value Notional
£m £m £m £m £m £m £m £m
Fair value hedges
Interest rate swaps and similar instruments 10 665 (32) 400 6 257 (31) 1,000
Cross currency swaps 1,131 4,513 (44) 258 1,218 3,957 (40) 825
Cash flow hedges
Interest rate swaps and similar instruments – – (39) 400 – – (66) 400
Cross currency swaps 129 315 (206) 1,042 226 336 (1) 171
Forward foreign currency contracts 9 218 – 1 19 656 (23) 283
Net investment hedges
Cross currency swaps – – (30) 124 – – – –
Forward foreign currency contracts 19 244 (172) 1,037 92 2,623 (194) 2,767
Derivatives not in a formal
hedge relationship
Interest rate swaps and similar instruments 140 1,115 (112) 1,025 1 774 (30) 3,280
Cross currency swaps 1 173 (22) 457 20 219 (47) 639
Future purchases of minority interest – – (41) – – – – –
Forward foreign currency contracts 19 376 (39) 1,070 182 2,632 (135) 2,561
Total 1,458 7,619 (737) 5,814 1,764 11,454 (567) 11,926
Note 11 Share-based payments
Tesco PLC’s equity-settled share-based payment schemes comprise various share schemes designed to reward Executive Directors. For further
information on these schemes, including the valuation models and assumptions used, see note 27 to the Group financial statements.
a) Share option schemes
The number of options and weighted average exercise price (WAEP) of share option schemes relating to Tesco PLC employees are:
Savings-related Approved Unapproved Nil cost
share option scheme share option scheme share option scheme share options
For the year ended 27 February 2010 Options WAEP Options WAEP Options WAEP Options WAEP
Outstanding at
28 February 2009 37,066 294.06 53,381 280.99 14,681,115 326.92 14,430,093 0.00
Granted 7,584 328.00 – – 3,804,440 338.40 3,093,147 0.00
Forfeited – – – – – – (2,299,256) 0.00
Exercised (8,544) 232.00 – – (3,936,026) 261.41 (6,038,529) 0.00
Outstanding at
27 February 2010 36,106 315.87 53,381 280.99 14,549,529 347.65 9,185,455 0.00
Exercisable as at
27 February 2010 – – 53,381 280.99 6,240,433 281.85 – –
Exercise price range 197.50 to 197.50 to
(pence) – – – 318.60 – 318.60 – –
Weighted average remaining
contractual life (years) – – – 4.77 – 4.40 – –
128 Tesco PLC Annual Report and Financial Statements 2010