2012 Integrated report - Sappi

29.2 Financial instruments continued
b) Liquidity risk continued
Liquidity risk management
US$ million
September 2011
Total
financial
assets and
liabilities (1)
Fair value
of financial
instruments
0 – 6
months
6 – 12
months
Undiscounted cash flows
1 – 2
years 2 – 5 years > 5 years Total
Financial assets
Other non-current assets 25 25 12 1 – 4 8 25
Non-current derivative
financial assets 41 41 4 4 8 28 – 44
Receive leg 30 30 95 405 – 560
Pay leg (26) (26) (87) (377) – (516)
Trade and other receivables 735 735 735 – – – – 735
Current derivative financial
assets 3 3 2 1 – – – 3
Receive leg 72 24 – – – 96
Pay leg (70) (23) – – – (93)
Cash and cash equivalents 639 639 639 – – – – 639
1,392 6 8 32 8 1,446
Financial liabilities
Interest-bearing borrowings 2,289 2,460 85 85 380 1,511 1,333 3,394
Other non-current liabilities 2 2 – – 1 1 – 2
Interest-bearing borrowings 449 463 372 99 – – – 471
Overdraft 1 1 1 – – – – 1
Current derivative financial
liabilities 10 10 10 – – – – 10
Pay leg 222 – – – – 222
Receive leg (212) – – – – (212)
Trade and other payables 840 840 791 9 – – – 800
1,259 193 381 1,512 1,333 4,678
Liquidity surplus (gap) 133 (187) (373) (1,480) (1,325) (3,232)
(1) Refers to items that are inscope in terms of IAS 39 Financial Instruments: Recognition and Measurement.
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