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CIMIC Group Limited Annual Report 2016 |
Financial Report
Notes continued
for the 12 months to 31 December 2016
35. FINANCIAL INSTRUMENTS
CONTINUED
b) Liquidity risk
continued
Contractual maturities of financial liabilities and cash flow hedge contracts as at 31 December 2015:
December 2015
Carrying
amount
$m
Contractual
cash flows
$m
Less than
1 year
$m
1-5 years
$m
More than
5 years
$m
Non-derivative financial liabilities
Interest bearing loans
761.8
(959.7)
(65.9)
(593.4)
(300.4)
Finance lease liabilities
291.2
(301.5)
(191.0)
(110.5)
-
Limited recourse loans
52.0
(54.0)
(54.0)
-
-
Total interest bearing liabilities
1
1,105.0
(1,315.2)
(310.9)
(703.9)
(300.4)
Trade and other payables
4,005.9
(4,005.9)
(3,674.3)
(331.6)
-
Derivative financial liabilities / (assets)
Forward exchange contracts used for foreign
currency hedging:
Net derivative financial liabilities / (assets)
2
(3.1)
Inflow
89.6
48.9
40.7
-
Outflow
(81.6)
(51.1)
(30.5)
-
Total net derivative financial liabilities / (assets)
(3.1)
8.0
(2.2)
10.2
-
1
31 December 2016: Total interest bearing financial liabilities includes $nil (31 December 2015: $48.7 million) of interest bearing liabilities
included in held for sale as at the end of the reporting period. Refer to Note 30: Held for Sale.
2
Net derivative financial liabilities / (assets) relating to foreign currency hedging includes $4.6 million (31 December 2015: $4.5 million)
of derivatives in an asset position and $1.6 million (31 December 2015: $1.4 million) of derivatives in a liability position
.
Guarantees
Guarantees have not been included in the maturity analysis for financial liabilities above. Guarantees provided to joint ventures, with a
carrying value of $nil (31 December 2015: $nil), are disclosed in Note 26:
Joint Venture Entities
.
c) Equity price risk
Equity price risk is the risk that the fair value of either a listed or unlisted equity investment, derivative equity instrument, or a portfolio
of such financial instruments decreases in the future. The Group invests in equity investments through its participation in major PPP
infrastructure projects. Investments may also be made as part of its strategic plans to form alliances or to invest in specialised but
complementary businesses to access specialised skills, markets, or additional capacity. Equity investments are not made for trading or
speculative purposes.
Fair values
For the fair values of listed and unlisted investments and derivative equity instruments, see section (f) of this note.
Sensitivity analysis of listed and unlisted investments
The price risk for the listed and unlisted securities is immaterial in terms of the possible impact on profit or loss or total equity.
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