DHF Annual Report 2009 - NT Health Digital Library - Northern ...

18. FINANCIAL INSTRUMENTS (continued)(e)Net Fair ValueThe fair value of financial instruments is estimated using various methods. These methods are classified into the followinglevels:Level 1 – fair value is calculated using quoted prices in active markets. Instruments whose carrying amount is deemed to beequal to its fair value qualify for this level of classification.Level 2 – to be used for those instruments that cannot be classified as either Level 1 or Level 3.Level 3 – fair value is estimated using inputs other than quoted market data, for example, net present value.2010 Total Carrying Net Fair Value Net Fair Value Net Fair Value Net Fair ValueAmount Level 1 Level 2 Level 3Total$’000 $’000 $’000 $’000 $’000Financial AssetsCash and Deposits 68 419 68 419 68 419Receivables 30 081 30 081 30 081Total Financial Assets: 98 500 98 500 98 500Financial LiabilitiesDeposits Held 1 250 1 250 1 250Payables 69 610 69 610 69 610Total Financial Liabilities: 70 860 70 860 70 8602009 Total Carrying Net Fair Value Net Fair Value Net Fair Value Net Fair ValueAmount Level 1 Level 2 Level 3Total$’000 $’000 $’000 $’000 $’000Financial AssetsCash and Deposits 78 950 78 950 78 950Receivables 23 992 23 992 23 992Total Financial Assets: 102 942 102 942 102 942Financial LiabilitiesDeposits Held 873 873 873Payables 52 846 52 846 52 846Total Financial Liabilities: 53 719 53 719 53 719200Department Health and Families