Annual Report - QuamIR

Notes to the Consolidated Financial Statements (Continued)
3 Financial risk management (Continued)
3.3 Fair value estimation
The table below analyses financial instruments carried at fair
value, by valuation method. The different levels have been
defined as follows:
3
3.3
– Quoted prices (unadjusted) in active markets for identical
assets or liabilities (level 1).
1
– Inputs other than quoted prices included within level 1 that
are observable for the asset or liability, either directly (that is,
as prices) or indirectly (that is, derived from prices) (level 2).
1
2
– Inputs for the asset or liability that are not based on
observable market data (that is, unobservable inputs)
(level 3).
3
The following table presents the Group’s assets and liabilities that
are measured at fair value at 31 December 2011.
Level 1 Level 2 Level 3 Total
1 2 3
HK$ Million HK$ Million HK$ Million HK$ Million
Assets
Available-for-sale financial assets – 9.8 22.0 31.8
Financial assets at fair value
through profit or loss
0.2 – 13.8 14.0
Total assets 0.2 9.8 35.8 45.8
Liabilities
Derivative liability – 9.4 – 9.4
Other non-current payables – – 13.2 13.2
Financial liabilities at fair value
through profit or loss
– – 261.6 261.6
Total liabilities – 9.4 274.8 284.2
114 HKC (Holdings) Limited • Annual Report 2011