Unilever 2013 Annual Report Download - page 127
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Please find page 127 of the 2013 Unilever 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.16B. MANAGEMENT OF MARKET RISK CONTINUED
The following table shows the split in fixed and floating rate interest exposures, taking into account the impact of interest rate swaps
and cross-currency swaps:
mllon
2013
€ million
2012
Cash and cash equivalents 2,285 2,465
Current other financial assets 760 401
Current financial liabilities (4,010) (2,656)
Non-current financial liabilities (7,491) (7,565)
Net debt (8,456) (7,355)
Of which:
Fixed rate (weighted average amount of fixing for the following year) (7,764) (7,053)
Floating rate (692) (302)
(8,456) (7,355)
16C. DERIVATIVES AND HEDGING
The Group does not use derivative financial instruments for speculative purposes. The uses of derivatives and the related values of
derivatives are summarised in the following table:
mllon
Trade
and other
recevables
mllon
Other
current
fnancal
assets
mllon
Trade
payables
and other
labltes
mllon
urrent
fnancal
labltes
mllon
Non-
current
fnancal
labltes
mllon
Total
31 December 2013
Foregn exchange dervatves
Fair value hedges 2 – (6) – – (4)
Cash flow hedges 16 –(15) ––1
Hedges of net investments in foreign operations –4– (69) –(65)
Hedge accounting not applied 48 116 (32) (98) –34
ross-currency swaps
Hedge accounting not applied –174 –(32) (100) 42
Interest rate swaps
Fair value hedges – – – – – –
Cash flow hedges – – (41) – – (41)
Hedge accounting not applied – – – – – –
ommodty contracts
Cash flow hedges 16 –(2) – – 14
Hedge accounting not applied – – – – – –
82 294 (96) (199) (100) (19)
Total assets 376 Total labltes (395) (19)
31 December 2012
Foregn exchange dervatves
Fair value hedges 1 – (5) – – (4)
Cash flow hedges 9 – (13) – – (4)
Hedges of net investments in foreign operations –(126)(a) –(5) –(131)
Hedge accounting not applied 10 222(a) (16) (57) –159
ross-currency swaps
Hedge accounting not applied –38 –(30) (34) (26)
Interest rate swaps
Fair value hedges –36 – – – 36
Cash flow hedges – – (146) – – (146)
Hedge accounting not applied ––– –––
ommodty contracts
Cash flow hedges 3 – (22) – – (19)
Hedge accounting not applied – – – – – –
23 170 (202) (92) (34) (135)
Total assets 193 Total liabilities (328) (135)
(a) Swaps that hedge the currency risk on intra-group loans and offset €(126) million within ‘Hedges of net investments in foreign operations’ are included
within ‘Hedge accounting not applied’.
124 Unlever Annual Report and Accounts 2013Fnancal statements
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNILEVER GROUP CONTINUED