Tesco 2014 Annual Report Download - page 104

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Note 21 Financial instruments continued
The fair values of financial instruments and derivatives have been determined by reference to prices available from the markets on which the instruments are traded,
where they are available. Where market prices are not available, the fair value has been calculated by discounting expected future cash flows at prevailing interest
rates. The above tables exclude other receivables/payables, which have fair values equal to their carrying values.
Financial assets and liabilities by category
The accounting classifications of each class of financial assets and liabilities as at 22 February 2014 and 23 February 2013 are as follows:
At 22 February 2014
Available-
for-sale
£m
Loans and
receivables/
other
financial
liabilities
£m
Fair value
through
profit or loss
£m
Total
£m
Cash and cash equivalents – 2,506 –2,506
Loans and advances to customers – Tesco Bank – 6,915 –6,915
Short-term investments –1,016 –1,016
Other investments 946 69 –1,015
Joint venture and associates loan receivables (Note 28) – 255 –255
Other receivables – 1 – 1
Customer deposits – Tesco Bank – (6,078) –(6,078)
Deposits by banks – Tesco Bank – (780) –(780)
Short-term borrowings –(1,904) –(1,904)
Long-term borrowings –(9,188) –(9,188)
Finance leases (Note 34) –(121) –(121)
Derivative financial instruments:
Interest rate swaps and similar instruments – – (66) (66)
Cross currency swaps – – 600 600
Index-linked swaps – – 189 189
Forward foreign currency contracts – – (16) (16)
946 (7,309) 707 (5,656)
At 23 February 2013
Available-
for-sale
£m
Loans and
receivables/
other
financial
liabilities
£m
Fair value
through
profit or loss
£m
Total
£m
Cash and cash equivalents 140 2,372 –2,512
Loans and advances to customers – Tesco Bank – 5,559 –5,559
Short-term investments –522 –522
Other investments 818 – – 818
Joint venture and associates loan receivables (Note 28) – 459 –459
Other receivables –17 –17
Customer deposits – Tesco Bank – (6,000) –(6,000)
Deposits by banks – Tesco Bank – (15) –(15)
Short-term borrowings –(760) –(760)
Long-term borrowings –(9,946) –(9,946)
Finance leases (Note 34) –(128) –(128)
Derivative financial instruments:
Interest rate swaps and similar instruments – – (55) (55)
Cross currency swaps – – 1,050 1,050
Index-linked swaps – – 168 168
Forward foreign currency contracts – – (20) (20)
958 (7,920) 1,143 (5,819)
Other information
Governance Financial statementsStrategic report
Tesco PLC Annual Report and Financial Statements 2014 101