12 Months Financial Report - Turkish Airlines

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TÜRK HAVA YOLLARI ANONİM ORTAKLIĞINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE PERIOD ENDED 31 DECEMBER, 200939 FINANCIAL INSTRUMENTS (cont’d)Categories and fair values of financial instruments:Loans andReceivablesDerivativeinstrumentswhich arereflected fairvalue to shareholder’s equityDerivativeinstrumentswhich arereflected fairvalueprofit/(loss)Investment at costvalueavailable for saleFinancialliabilities atamortized costCarryingValue Note31 December 2009 Balance SheetFinancial AssetsCash and cash equivalents 1.096.111.869 - - - 1.096.111.869 6Financial investments 175.000.000 4.102.120 43.196.250 1.750.943 - 224.049.313 7Trade receivables 445.381.881 - - - - 445.381.881 10Other receivables 1.407.753.503 - - - - 1.407.753.503 11Financial liabilities - -Bank borrowings - - - - 14.187.801 14.187.801 8Finance lease obligations - - - - 2.959.539.067 2.959.539.067 8Other financial liabilities - 7.866.905 37.365.267 - 846.771 46.078.943 9Trade payables - - - - 560.801.478 560.801.478 10Loans andReceivablesDerivativeinstrumentswhich arereflected fairvalue to shareholder’s equityDerivativeinstrumentswhich arereflected fairvalueprofit/(loss)Investment at costvalueavailable for saleFinancialliabilities atamortized costCarryingValue Note31 December 2008 Balance SheetFinancial AssetsCash and cash equivalents 504.905.721 - - - - 504.905.721 6Financial investments 1.403.033.703 - 39.599.159 1.750.943 - 1.444.383.805 7Trade receivables 349.144.133 - - - - 349.144.133 10Other receivables 84.482.839 - - - - 84.482.839 11Financial liabilitiesBank borrowings - - - - 34.900.371 34.900.371 8Finance lease obligations - - - - 3.182.394.093 3.182.394.093 8Other financial liabilities - - 44.360.335 - 639.916 45.000.251 9Trade payables - - - - 435.109.211 435.109.211 10The Group considers the legitimate values of financial assets are of fair value75
TÜRK HAVA YOLLARI ANONİM ORTAKLIĞINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE PERIOD ENDED 31 DECEMBER, 200939 FINANCIAL INSTRUMENTS (cont’d)Fair Values of Financial Instruments (cont’d)Fair values of financial assets and liabilities are determined as follows:• First level: Financial assets and liabilities, are valued with the stock exchange prices in theactive market for the assets and liabilities same with each other.• Second level: Financial assets and liabilities are valued with input obtained while findingthe stock exchange price of the relevant asset or liability mentioned in the first level andthe direct or indirect observation of price in the market.• Third level: Financial assets and liabilties are valued by the input that does not reflect an actualdata observed in the market while finding the fair value of an asset or liability.Financial assets and liabilities, which are presented in their fair values, level reclassifications are asfollows:Fair value levelas of the reporting date31 December Level 1 Level 2 Level 3Financial assets 2009 TL TL TLFinancial assets at fair value throughprofit or lossDerivative instruments 43.196.250 - 43.196.250-Financial assets subject tohedge accountingDerivative instruments4.102.120- 4.102.120-Total 47.298.370 - 47.298.370 -Financial liabilitiesFinancial liabilities at fair valuethrough profit or lossDerivative instruments37.365.267 -37.365.267 -Financial liabilities subject tohedge accountingDerivative instruments7.866.905 - 7.866.905 -45.232.172 - 45.232.172 -76
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12 Months Financial Report - Turkish Airlines

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