2568.11 kb - Compass Group

69 Compass Group PLC Annual Report 200720 Derivative financial instruments continuedLess than Between 1 Between 2 Between 3 Between 41 year and 2 years and 3 years and 4 years and 5 years Over 5 years TotalGross debt maturity analysis £m £m £m £m £m £m £m30 September 2006Fixed interest:r750m Eurobond 2009 – – 509 – – – 509£200m Eurobond 2010 – – – 201 – – 201£325m Eurobond 2012 – – – – – 325 325£250m Eurobond 2014 – – – – – 250 250US private placements 27 – 81 19 68 247 442Bank loans 5 4 4 4 4 – 21Total fixed interest 32 4 594 224 72 822 1,748Cash flow swaps (fixed leg) 535 287 – – – – 822Fair value swaps (fixed leg) (52) (4) (424) (454) (5) (432) (1,371)Fixed interest (asset)/liability 515 287 170 (230) 67 390 1,199Floating interest:Bank loans 11 3 – – – 2 16Overdrafts 56 – – – – – 56Other loans 6 – – – – – 6Total floating interest 73 3 – – – 2 78Cash flow swaps (floating leg) (535) (287) – – – – (822)Fair value swaps (floating leg) 52 4 424 454 5 432 1,371Floating interest (asset)/liability (410) (280) 424 454 5 434 627Other:Finance lease obligations 15 14 10 6 3 9 57Fair value adjustments to borrowings – – (10) – – 29 19Swap monetisation – – 22 4 – 25 51Foreign currency and cross currency swaps (1) – – – – 2 1Other (asset)/liability 14 14 22 10 3 65 128Gross debt excluding derivatives 119 21 616 234 75 889 1,954Derivative financial instruments:Derivative financial instruments (7) – 11 (18) – 3 (11)Gross debt 112 21 627 216 75 892 1,94321 Trade and other payables2007 2006Current Non-current Current Non-currentTrade and other payables £m £m £m £mTrade payables 660 4 777 4Amounts owed to associates – – – –Social security and other taxes 190 – 176 –Other payables 169 18 210 28Deferred consideration on acquisitions 3 3 20 3Liability on put options held by minority equity partners – 8 9 8Accruals and deferred income 811 3 798 3Trade and other payables 1,833 36 1,990 46The directors consider that the carrying amount of trade payables approximates to their fair value.Trade payable days for the continuing business at 30 September 2007 were 48 days (2006: 48 days for the continuing business).