Meridian Annual Report - Meridian Energy

68
Meridian Energy Limited — Notes to the Financial Statements (continued)
c) Liquidity Risk
Meridian maintains sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities and
the ability to close out market positions as part of its management of liquidity risk. Due to the dynamic nature of the underlying businesses, Group
Treasury aims at maintaining flexibility in funding by keeping committed surplus credit lines available. Details are included in Note 20.
The tables below analyse Meridian’s financial liabilities, and net settled or gross settled derivative financial instruments into relevant maturity groupings
based on the remaining period at the reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual
undiscounted cash flows, except for interest rate swaps, cross currency interest rate swaps, forward exchange contracts and contracts for differences
which are the undiscounted settlements expected under the contracts. Balances due within 12 months equal their carrying balances, as the impact of
discounting is not significant. As the amounts included in the tables are the contractual undiscounted cash flows, these amounts will not reconcile to
the amounts disclosed on the balance sheet.
Financial Liabilities:
Total
contractual
cash flows
$’000
Less than
1 year
$’000
Group 2008
1-2 Years
$’000
2-5 Years
$’000
Greater than
5 Years
$’000
Trade and Other Payables 541,526 541,526 - - -
Borrowings 1,236,624 347,119 37,569 291,333 560,603
Net Settled Derivative Financial Liabilities:
Contracts for Differences 51,607 39,282 4,197 7,266 862
Interest Rate Swaps 385 (154) 48 491 -
Gross Settled Derivative Financial Liabilities:
Forward Exchange Contracts – Cash Flow Hedges
- Inflow 16,733 9,638 3,651 3,444 -
- Outflow 19,224 10,526 4,515 4,183 -
Cross Currency Interest Rate Swaps
- Inflow 927,478 37,973 37,569 291,333 560,603
- Outflow 1,116,795 60,331 55,822 364,755 635,887
Financial Liabilities:
Total
contractual
cash flows
$’000
Less than
1 year
$’000
parent 2008
1-2 Years
$’000
2-5 Years
$’000
Greater than
5 Years
$’000
Trade and Other Payables 518,468 518,468 - - -
Borrowings 1,236,624 347,119 37,569 291,333 560,603
Net Settled Derivative Financial Liabilities:
Contracts for Differences 51,607 39,282 4,197 7,266 862
Interest Rate Swaps 385 (154) 48 491 -
Gross Settled Derivative Financial Liabilities:
Forward Exchange Contracts – Cash Flow Hedges
- Inflow 16,733 9,638 3,651 3,444 -
- Outflow 19,224 10,526 4,515 4,183 -
Cross Currency Interest Rate Swaps
- Inflow 927,478 37,973 37,569 291,333 560,603
- Outflow 1,116,795 60,331 55,822 364,755 635,887