2012 Integrated report - Sappi
2012 Integrated report - Sappi
2012 Integrated report - Sappi
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29.2 Financial instruments continued<br />
Fair values continued<br />
US$ million<br />
Total<br />
balance<br />
IAS 39 (1) trading liabilities<br />
Out of<br />
Categories according to IAS 39<br />
Other<br />
scope Held for financial<br />
Total in<br />
scope<br />
NON-CURRENT LIABILITIES<br />
Interest-bearing borrowings 2,289 – – 2,289 2,289 2,460<br />
Bank loans payable (> 1 year) – including syndicated loans – – 78 78 80<br />
Bonds – – 1,809 1,809 1,975<br />
Financial leasing liabilities – – 22 22 25<br />
Securitisation debt – – 368 368 368<br />
Secured loans – – 12 12 12<br />
Other non-current liabilities 553 551 – 2 2 2<br />
Non-current derivative financial liabilities – – – – – –<br />
CURRENT LIABILITIES<br />
Interest-bearing borrowings 449 – – 449 449 463<br />
Bank loans payable (< 1 year) – including syndicated loans – – 93 93 93<br />
Current portion of other non-current loans payable – – 197 197 211<br />
Financial leasing liabilities – – 14 14 14<br />
Secured loans (< 1 year) – – 145 145 145<br />
Overdraft<br />
Bank overdrafts (< 3 months) 1 – – 1 1 1<br />
Current derivative financial liabilities 10 – 10 – 10 10<br />
Trade and other payables 1,065 225 – 840 840 840<br />
Accruals 225 – 243 243 243<br />
Accounts payable to associates – – 4 4 4<br />
Other accounts payable – current – – 593 593 593<br />
(1) This refers to items that are outside the scope of IAS 39.<br />
Hierarchy of fair value measurements for financial instruments measured at fair value on the balance sheet:<br />
US$ million<br />
Total<br />
fair<br />
value<br />
Fair<br />
value<br />
<strong>2012</strong> 2011<br />
Fair value hierarchy<br />
Fair value hierarchy<br />
(in accordance with IFRS 7)<br />
Total<br />
(in accordance with IFRS 7)<br />
fair<br />
Level 1 Level 2 Level 3 value Level 1 Level 2 Level 3<br />
NON-CURRENT ASSETS<br />
Other non-current assets<br />
Club debentures 3 3 – – 3 3 – –<br />
Investment funds 17 17 – – 17 17 – –<br />
Non-current derivative<br />
financial assets 22 – 22 – 41 – 41 –<br />
CURRENT ASSETS<br />
Current derivative<br />
financial assets – – – – 3 – 3 –<br />
42 20 22 – 64 20 44 –<br />
NON-CURRENT LIABILITIES<br />
Non-current derivative<br />
financial liabilities 46 – 46 – – – – –<br />
CURRENT LIABILITIES<br />
Current derivative financial<br />
liabilities 1 – 1 – 10 – 10 –<br />
47 – 47 – 10 – 10 –<br />
sappi <strong>Integrated</strong> Report <strong>2012</strong> 169
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