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ANNUAL REPORT 2011 - DONG Energy

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notes<br />

33 Financial instruments<br />

maturity analysis of fi nancial liabilities, including interest payments<br />

<strong>2011</strong><br />

DKK million Carrying<br />

amount<br />

Payment<br />

obligation<br />

2012 2013 2014 2015 2016<br />

Bond loans 22,678 35,618 4,856 1,009 4,726 827 4,544 19,656<br />

Bank overdrafts 114 114 114 - - - - -<br />

Other bank loans 17,435 20,679 2,126 2,361 1,022 791 1,282 13,097<br />

Trade payables 9,377 9,377 9,377 - - - - -<br />

Payables to associates 10 10 10 - - - - -<br />

Fair value of derivative<br />

fi nancial instruments 13,095 13,378 9,374 1,830 729 139 110 1,196<br />

Other payables 7,409 7,409 6,793 616 - - - -<br />

at 31 December 70,118 86,585 32,650 5,816 6,477 1,757 5,936 33,949<br />

In this connection, on 31 December <strong>2011</strong>, <strong>DONG</strong> <strong>Energy</strong> issued<br />

hybrid capital with a principal of DKK 9,664 million and<br />

maturity in the year 3005 (DKK 4,460 million) and 3010 (DKK<br />

5,204 million).<br />

The maturity analysis is based on undiscounted cash fl ows<br />

relating to fi nancial liabilities. Derivative fi nancial instruments<br />

2010<br />

DKK million Carrying<br />

amount<br />

Payment<br />

obligation<br />

After<br />

2016<br />

have been used to hedge interest rate and currency risks on<br />

the Group’s loan portfolio.<br />

Apart from the fair value of derivative fi nancial instruments,<br />

current liabilities fall due for payment less than one year after<br />

the end of the fi nancial year. Other liabilities predominantly<br />

comprised VAT and indirect taxes as well as deferred income.<br />

<strong>2011</strong> 2012 2013 2014 2015<br />

Bond loans 26,570 40,401 5,044 4,980 1,004 4,728 822 23,823<br />

Bank overdrafts 19 19 19 - - - - -<br />

Other bank loans 11,314 13,260 879 383 2,194 617 539 8,648<br />

Trade payables 6,148 6,148 6,148 - - - - -<br />

Payables to associates 43 43 43 - - - - -<br />

Fair value of derivative<br />

fi nancial instruments 13,350 13,350 10,542 1,519 523 153 17 596<br />

Other payables 7,470 7,470 7,416 54 - - - -<br />

at 31 december 64,914 80,691 30,091 6,936 3,721 5,498 1,378 33,067<br />

110 114 COnsOliDatED finanCial statEmEnts – <strong>DONG</strong> ENERGY GROUP <strong>ANNUAL</strong> <strong>ANNUAL</strong> <strong>REPORT</strong> <strong>REPORT</strong> <strong>2011</strong><br />

<strong>2011</strong><br />

After<br />

2015

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