2009-10 Annual Report - Australia Post
2009-10 Annual Report - Australia Post
2009-10 Annual Report - Australia Post
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notes to And ForminG PArt oF the FinAnCiAl rePort For the year ended 30 June 20<strong>10</strong><br />
29 Financial and capital risk management (continued)<br />
(k) Fair value of financial assets and liabilities<br />
the fair value of financial assets and financial liabilities is based on market prices (where a market exists) or by discounting back the expected future<br />
cashflows using the applicable yield curve for assets and liabilities with similar risk profiles.<br />
Fair value of financial instruments not measured at fair value in the balance sheet<br />
except as detailed in the following table, the carrying amounts of financial assets and financial liabilities recorded at amortised cost in the balance<br />
sheet approximates their fair value.<br />
94<br />
Carrying<br />
Amount<br />
$m<br />
AustrAliA <strong>Post</strong> AnnuAl rePort <strong>2009</strong>–<strong>10</strong> | Financial and statutory reports<br />
consolidated corporation<br />
20<strong>10</strong> <strong>2009</strong> 20<strong>10</strong> <strong>2009</strong><br />
Fair<br />
value<br />
$m<br />
carrying<br />
amount<br />
$m<br />
Fair<br />
Value<br />
$m<br />
Carrying<br />
Amount<br />
$m<br />
Fair<br />
value<br />
$m<br />
carrying<br />
amount<br />
$m<br />
Financial assets<br />
Finance lease<br />
receivable<br />
loans to controlled<br />
and jointly<br />
<strong>10</strong>3.5 83.5 <strong>10</strong>3.5 84.4 <strong>10</strong>3.5 83.5 <strong>10</strong>3.5 84.4<br />
controlled entities<br />
Financial liabilities<br />
129.4 133.5 130.7 133.8 129.6 133.7 130.9 134.0<br />
Bonds payable 547.0 550.1 541.7 537.1 547.0 550.1 541.7 537.1<br />
Fair value measurements recognised in the balance sheet<br />
the following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into levels<br />
1 to 3 based on the degree to which the fair value is observable:<br />
• level 1: fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities.<br />
• level 2: fair value measurements are those derived from inputs other than quoted prices included within level 1 that are observable from the asset<br />
or liability, either directly (as prices) or indirectly (derived from prices).<br />
• level 3: fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on<br />
observable market data (unobservable inputs).<br />
Financial assets at fair value through profit or loss<br />
Foreign currency exchange contracts<br />
interest rate swaps<br />
Financial liabilities at fair value through profit or loss<br />
Foreign currency exchange contracts<br />
interest rate swaps<br />
commodity swaps<br />
level 1<br />
$m<br />
there were no transfers between levels 1, 2 and 3 during the year.<br />
–<br />
–<br />
–<br />
–<br />
–<br />
level 2<br />
$m<br />
0.4<br />
5.5<br />
–<br />
11.4<br />
0.5<br />
Fair<br />
Value<br />
$m<br />
corporation and consolidated<br />
20<strong>10</strong> <strong>2009</strong><br />
level 3<br />
$m<br />
–<br />
–<br />
–<br />
–<br />
–<br />
level 1<br />
$m<br />
–<br />
–<br />
–<br />
–<br />
–<br />
level 2<br />
$m<br />
0.1<br />
9.7<br />
1.2<br />
18.9<br />
–<br />
level 3<br />
$m<br />
–<br />
–<br />
–<br />
–<br />
–
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