2568.11 kb - Compass Group

68 Compass Group PLC Annual Report 2007Notes to the consolidated financial statementsfor the year ended 30 September 200720 Derivative financial instruments continued2007 2006Fair value Cash flow Fair value Cash flowswaps swaps swaps swapsNotional amount of derivative financial instruments by currency £m £m £m £mSterling 775 30 775 –US Dollar 173 245 236 375Euro 52 35 339 156Japanese Yen 16 77 21 68Other – 128 – 223Total 1,016 515 1,371 8222007 2006ForwardsForwardsand cross Effective and cross EffectiveGross currency currency of Gross currency currency ofEffective currency denomination of borrowings borrowings swaps borrowings borrowings swaps borrowingsafter the effect of derivatives £m £m £m £m £m £mSterling 837 (318) 519 851 (526) 325US Dollar 476 247 723 506 375 881Euro 258 (98) 160 547 (205) 342Japanese Yen 16 59 75 23 58 81Other 21 105 126 26 299 325Total 1,608 (5) 1,603 1,953 1 1,954Less than Between 1 Between 2 Between 3 Between 4 Over1 year and 2 years and 3 years and 4 years and 5 years 5 years TotalGross debt maturity analysis £m £m £m £m £m £m £m30 September 2007Fixed interest:r300m Eurobond 2009 – 211 – – – – 211£200m Eurobond 2010 – – 200 – – – 200£325m Eurobond 2012 – – – – 324 – 324£250m Eurobond 2014 – – – – – 250 250US private placements – 72 18 59 220 7 376Bank loans 4 4 4 4 – – 16Total fixed interest 4 287 222 63 544 257 1,377Cash flow swaps (fixed leg) 316 199 – – – – 515Fair value swaps (fixed leg) (4) (131) (454) (4) (423) – (1,016)Fixed interest (asset)/liability 316 355 (232) 59 121 257 876Floating interest:Bank loans 20 3 1 – (1) 2 25Overdrafts 118 – – – – – 118Other loans – – – – – – –Total floating interest 138 3 1 – (1) 2 143Cash flow swaps (floating leg) (316) (199) – – – – (515)Fair value swaps (floating leg) 4 131 454 4 423 – 1,016Floating interest (asset)/liability (174) (65) 455 4 422 2 644Other:Finance lease obligations 14 11 9 5 3 8 50Fair value adjustments to borrowings – (2) (2) – (9) 25 12Swap monetisation – 4 3 – 16 3 26Foreign currency and cross currency swaps (5) – – – – – (5)Other (asset)/liability 9 13 10 5 10 36 83Gross debt excluding derivatives 151 303 233 68 553 295 1,603Derivative financial instruments:Derivative financial instruments (2) 3 (12) – 11 – –Gross debt 149 306 221 68 564 295 1,603