Annual Report 2008 English [PDF, 2.69 MB] - Tessenderlo Group

Tessenderlo Group
2007
Carrying
amount
Contractual
cashflows
less than
one year
between
1 and 5
years
more
than 5
years
Non-Derivative Financial liabilities
Credit institutions 30.0 34.3 6.3 22.9 5.1
Credit institutions 60.0 67.1 12.0 44.8 10.3
Credit institutions 50.0 55.6 11.9 43.7 -
Credit institutions 194.7 196.0 191.5 2.0 2.5
Finance lease liabilities 2.7 3.3 0.3 2.5 0.5
Derivative Financial liabilities
Forward exchange contracts -1.5 - - - -
Inflow - -170.6 -170.6 - -
Outflow - 169.0 169.0 - -
Total 335.9 354.7 220.4 115.9 18.4
Fair value of financial assets and liabilities
The fair values together with the carrying amounts shown in the balance sheet are as follows:
Note
Carrying
amount
2008
Fair
value
2008
Carrying
amount
2007
Fair
value
2007
157
Derivative financial instruments 26 5.4 5.4 1.9 1.9
Cash and cash equivalents 18 53.5 53.5 93.6 93.6
Investments 14 5.2 5.2 6.1 6.1
Trade and other receivables 16 472.4 472.4 429.3 429.3
Non-current financial liabilities 22 -96.7 -91.5 -122.6 -117.5
Leasing payables 22 -1.9 -1.8 -2.6 -2.5
Credit institutions 22 -94.8 -89.7 -120.0 -115.0
Current financial liabilities 22 -251.4 -251.0 -214.8 -214.5
Current portion long term financial
22 -25.0 -24.6 -25.0 -24.7
liabilities
Leasing payables 22 -0.1 -0.1 -0.1 -0.1
Credit institutions and commercial paper 22 -226.3 -226.3 -189.7 -189.7
Trade and other payables 25 -388.9 -388.9 -364.6 -364.6
-200.5 -194.9 -171.1 -165.7
Estimation of fair values
• Derivative financial instruments
The fair value of a derivative financial instrument is the amount for which an asset could be exchanged,
or a liability settled, between knowledgeable, willing parties in an arm’s length transaction.
The fair value of forward contracts is calculated as the discounted value of the difference between the
contract rate and the current forward rate.