notes to the financial statements - Investor Relations

NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2011
42 FINANCIAL RISK MANAGEMENT (CONT’D)
Fair value hierarchy
Annual Report 2011
The table below analyse financial instruments carried at fair value, by valuation method. The different levels have been defined
as follows:
Level 1 : quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 : Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly
(i.e., as prices) or indirectly (i.e., derived from prices).
Level 3 : Inputs for the asset or liability that are not based on observable market data (unobservable inputs).
Level 1 Level 2 Level 3 Total
$’000 $’000 $’000 $’000
Group
2011
Available-for-sale financial assets 83,530 45 – 83,575
Derivative financial assets 78,558 5,005 – 83,563
162,088 5,050 – 167,138
Derivative financial liabilities (16,840) (2,649) – (19,489)
145,248 2,401 – 147,649
2010
Available-for-sale financial assets 91,857 45 – 91,902
Company
2011
Available-for-sale financial assets 80,686 – – 80,686
2010
Available-for-sale financial assets 91,857 – – 91,857
43 COMMITMENTS
Group Company
2011 2010 2011 2010
$’000 $’000 $’000 $’000
Capital commitments:
- contracted for but not provided 102,070 871 99,553 158
- authorised but not contracted 29,967 31,729 392 590
132,037 32,600 99,945 748
The Group and Company lease land, warehouse facilities, offices and motor vehicles under operating leases. The leases
typically run for an initial period of 1 to 46 years, with an option to renew the lease after the expiry dates. Lease payments for
land are revised on an annual basis to reflect the market rental whilst other lease payments are revised on renewal of lease
contracts to reflect market rental. None of the leases include contingent rental.
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