Financial - Turkish Airlines

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(Convenience Translation of Report and Financial Statements Originally Issued in Turkish)TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIESNotes to the Audited Consolidated Financial StatementsFor the Year Ended 31 December 2012(All amounts are expressed in Turkish Lira (TL) unless otherwise stated.)31 December 2012Balance SheetLoans andReceivablesDerivativeinstrumentsaccounted forhedge accountingDerivativeinstruments atfair value throughprofit/(loss)Investmentsavailable for sale atcost valueFinancial liabilitiesat amortized cost Book Value NoteFinancial AssetsCash and cash equivalents 1.355.542.536 - - - - 1.355.542.536 6Financial investments 476.958.794 9.765.473 65.096.176 2.049.244 - 553.869.687 7Trade receivables 777.402.622 - - - - 777.402.622 10Other receivables 2.307.956.854 - - - - 2.307.956.854 11Financial liabilitiesBank borrowings - - - - - - 8Finance lease obligations - - - - 8.666.993.598 8.666.993.598 8Other financial liabilities - 59.464.968 102.171.654 - 31.064.076 192.700.698 9Trade payables - - - - 912.324.274 912.324.274 1031 December 2011Balance SheetLoans andReceivablesDerivativeinstrumentsaccounted forhedge accountingDerivativeinstruments atfair value throughprofit/(loss)Investmentsavailable for sale atcost valueFinancial liabilitiesat amortized cost Book Value NoteFinancial AssetsCash and cash equivalents 1.549.524.710 - - - - 1.549.524.710 6Financial investments 133.533.101 6.796.870 73.569.707 1.767.872 - 215.667.550 7Trade receivables 764.775.891 - - - - 764.775.891 10Other receivables 1.407.297.982 - - - - 1.407.297.982 11Financial liabilitiesBank borrowings - - - - - - 8Finance lease obligations - - - - 7.912.882.833 7.912.882.833 8Other financial liabilities - 70.753.275 84.117.807 - 3.487.463 158.358.545 9Trade payables - - - - 870.440.470 870.440.470 10The Group considers the book values for financial assets approximate their fair values.72 TÜRK HAVA YOLLARI ANNUAL REPORT 2012
(Convenience Translation of Report and Financial Statements Originally Issued in Turkish)TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIESNotes to the Audited Consolidated Financial StatementsFor the Year Ended 31 December 2012(All amounts are expressed in Turkish Lira (TL) unless otherwise stated.)Fair values of financial assets and liabilities are determined as follows:• First level: Financial assets and liabilities, are valued with the stock exchange prices in the active market for theassets and liabilities same with each other.• Second level: Financial assets and liabilities are valued with input obtained while finding the stock exchange priceof the relevant asset or liability mentioned in the first level and the direct or indirect observation of price in themarket.• Third level: Financial assets and liabilities are valued by the input that does not reflect an actual data observed inthe market while finding the fair value of an asset or liability.Financial assets and liabilities, which are presented in their fair values, level reclassifications are as follows:Fair value level as of the reporting dateFinancial assets 31 December 2012 Level 1 TL Level 2 TL Level 3 TLFinancial assets at fair value 65.096.176 - 65.096.176 -through profit or lossDerivative instrumentsFinancial assets accounted for 9.765.473 - 9.765.473 -hedge accountingDerivative instrumentsTotal 74.861.649 - 74.861.649 -Financial liabilitiesFinancial assets at fair value 102.171.654 - 102.171.654 -through profit or lossDerivative instrumentsFinancial assets accounted for 59.464.968 - 59.464.968 -hedge accountingDerivative instrumentsTotal 161.636.622 - 161.636.622 -73
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