Vtech 2001 Annual Report Download - page 62

Download and view the complete annual report

Please find page 62 of the 2001 Vtech 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 72

  • 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

23. FINANCIAL INSTRUMENTS (Continued)
Fair values
The fair values of the Group's financial assets and liabilities, before taking account of hedging transactions, are
summarized as follows:
2001 2000
Carrying
amount Fair value
Carrying
amount Fair value
US$ million US$ million US$ million US$ million
Financial assets:
Investments 0.5 0.5 1.8 1.8
Debtors 195.3 195.3 188.9 188.9
Cash at bank and deposits 56.2 56.2 79.6 79.6
252.0 252.0 270.3 270.3
Financial liabilities:
Creditors and accruals 252.6 252.6 189.3 189.3
Bank overdrafts 2.8 2.8 12.1 12.1
Term loans 246.3 246.3 173.8 173.8
Obligations under finance leases 0.5 0.5 Ð Ð
502.2 502.2 375.2 375.2
The fair value of debtors, bank balances, creditors and accruals and bank overdrafts approximate their
carrying amount due to the short-term maturities of these assets and liabilities. The fair value of term loans and
obligations under finance leases is estimated using the expected future payments discounted at market
interest rates.
Currency profile
The currency profile of the Group's financial assets and liabilities, before taking account of hedging
transactions, is summarized as follows:
2001 2000
Financial
assets
Financial
liabilities
Financial
assets
Financial
liabilities
US$ million US$ million US$ million US$ million
Currency:
United States Dollar 215.0 404.5 232.4 275.0
Euro 2.2 8.6 13.5 0.4
United Kingdom Sterling 6.8 5.3 7.4 2.7
Hong Kong Dollar 3.0 47.6 2.8 57.2
Dutch Guilder 2.1 Ð 1.7 3.4
Chinese Renminbi 1.4 19.7 1.8 16.8
Swiss Franc 0.7 0.2 0.6 0.4
Spanish Peseta 2.6 2.1 0.8 2.0
French Franc 9.3 8.3 4.8 12.3
Deutsch Mark 4.3 1.1 1.5 1.1
Others 4.6 4.8 3.0 3.9
252.0 502.2 270.3 375.2
60
Notes to the Financial Statements