Tesco 2009 Annual Report Download - page 103

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101
FINANCIAL STATEMENTS
Tesco PLC Annual Report and Financial Statements 2009
To find out more go to
www.tesco.com/annualreport09
Note 22 Financial instruments continued
The fair values of financial instruments have been determined by reference to prices available from the markets on which the instruments are traded.
The fair value of all other items have been calculated by discounting expected future cash flows at prevailing interest rates. The above table excludes
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 28 February 2009 and 23 February 2008 are as follows:
Loans and
receivables/ Fair value
other financial through
liabilities profit or loss Total
At 28 February 2009 £m £m £m
Cash and cash equivalents 3,509 – 3,509
Loans and advances to customers – TPF 3,388 – 3,388
Loans and advances to banks and other financial assets – TPF 1,541 588 2,129
Short-term investments 1,233 – 1,233
Other investments – TPF 259 – 259
Joint venture loan receivables (note 32) 262 – 262
Customer deposits – TPF (4,538) – (4,538)
Deposits by banks – TPF (24) – (24)
Short-term borrowings (4,012) – (4,012)
Long-term borrowings (12,195) – (12,195)
Finance leases (Group as lessee – note 37) (243) – (243)
Derivative financial instruments:
Interest rate swaps and similar instruments – (161) (161)
Cross currency swaps – 1,384 1,384
Forward foreign currency contracts – 10 10
Future purchases of minority interests – (200) (200)
(10,820) 1,621 (9,199)
Loans and
receivables/ Fair value
other financial through
liabilities profit or loss Total
At 23 February 2008 £m £m £m
Finance leases (Group as lessor – note 37) 5 – 5
Cash and cash equivalents 1,788 – 1,788
Short-term investments 360 – 360
Joint venture loan receivables (note 32) 173 – 173
Short-term borrowings (2,033) – (2,033)
Long-term borrowings (5,757) – (5,757)
Finance leases (Group as lessee – note 37) (266) – (266)
Derivative financial instruments:
Interest rate swaps and similar instruments – (73) (73)
Cross currency swaps – 234 234
Forward foreign currency contracts – (381) (381)
Future purchases of minority interests – (232) (232)
(5,730) (452) (6,182)