Vodafone 2010 Annual Report Download - page 109

Financials
Vodafone Group Plc Annual Report 2010 107
Maturity of borrowings
The maturity profile of the anticipated future cash flows including interest in relation to the Group’s non-derivative financial liabilities on an undiscounted basis which,
therefore, differs from both the carrying value and fair value, is as follows:
Redeemable Loans in fair
Bank preference Commercial Other value hedge
loans shares paper Bonds liabilities relationships Total
£m £m £m £m £m £m £m
Within one year 3,406 93 2,572 1,634 3,983 510 12,198
In one to two years 858 56 – 3,008 145 510 4,577
In two to three years 847 56 – 1,712 156 510 3,281
In three to four years 1,852 56 – 2,671 – 510 5,089
In four to five years 138 56 – 2,152 31 1,977 4,354
In more than five years 598 1,370 – 6,009 68 9,983 18,028
7,699 1,687 2,572 17,186 4,383 14,000 47,527
Effect of discount/financing rates (56) (445) (9) (3,337) (32) (3,853) (7,732)
31 March 2010 7,643 1,242 2,563 13,849 4,351 10,147 39,795
Within one year 950 127 2,670 787 1,053 5,222 10,809
In one to two years 2,361 97 – 283 3,663 1,808 8,212
In two to three years 665 59 – 2,105 25 1,443 4,297
In three to four years 525 59 – 269 314 1,589 2,756
In four to five years 1,345 59 – 1,064 252 2,118 4,838
In more than five years 342 1, 517 – 7,360 71 8,928 18,218
6,188 1,918 2,670 11,868 5,378 21,108 49,130
Effect of discount/financing rates (136) (465) (11) (3,289) (209) (3,647) (7,757)
31 March 2009 6,052 1,453 2,659 8,579 5,169 17,461 41,373
The maturity profile of the Group’s financial derivatives (which include interest rate and foreign exchange swaps), using undiscounted cash flows, is as follows:
2010 2009
Payable Receivable Payable Receivable
£m £m £m £m
Within one year 13,067 13,154 9,003 9,231
In one to two years 929 938 592 668
In two to three years 1,083 974 739 609
In three to four years 1,040 932 765 603
In four to five years 868 816 743 577
In more than five years 7,607 5,912 7,062 5 ,129
24,594 22,726 18,904 16,817
The currency split of the Group’s foreign exchange derivatives, all of which mature in less than one year, is as follows:
2010 2009
Payable Receivable Payable Receivable
£m £m £m £m
Sterling – 8,257 – 6,039
Euro 8,650 3,177 5,595 13
US dollar 1,545 55 2,527 1,127
Japanese yen 548 21 214 20
Other 1,485 755 81 1,285
12,228 12,265 8,417 8,484
Payables and receivables are stated separately in the table above as settlement is on a gross basis. The £37 million net receivable (2009: £67 million net receivable) in relation
to foreign exchange financial instruments in the table above is split £95 million (2009: £37 million) within trade and other payables and £132 million (2009: £104 million)
within trade and other receivables.
The present value of minimum lease payments under finance lease arrangements under which the Group has leased certain of its equipment is analysed as follows:
2010 2009
£m £m
Within one year 21 10
In two to five years 47 42
In more than five years 7 18