148
CIMIC Group Limited Annual Report 2016 |
Financial Report
Notes continued
for the 12 months to 31 December 2016
35. FINANCIAL INSTRUMENTS
CONTINUED
f) Net fair values of financial assets and liabilities
Fair value hierarchy
AASB 13
Fair Value Measurement
requires disclosure of fair value measurements by level of the fair value hierarchy. The fair values of
financial assets and liabilities held at fair value have been determined based on either the listed price or the net present value of cash
flows using current market rates of interest. The carrying amounts of other financial assets and liabilities in the Group’s balance sheet
approximate fair values.
The table below analyses other financial instruments carried at fair value, listed in order of valuation method. The different levels have
been identified 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); and
Level 3: inputs for the asset or liability that are not based on observable market data.
31 December 2016
Level 1
$m
Level 2
$m
Level 3
$m
Total
$m
Assets
Equity and stapled securities available-for-sale
-
Listed investments
1.9
-
-
1.9
-
Unlisted investments
-
-
5.4
5.4
Financial assets at fair value through profit or loss
-
Unlisted investments
-
-
53.1
53.1
Derivatives
-
17.3
75.0
92.3
Total assets
1.9
17.3
133.5
152.7
Liabilities
Derivatives
-
(4.6)
-
(4.6)
Total liabilities
-
(4.6)
-
(4.6)
31 December 2015
Level 1
$m
Level 2
$m
Level 3
$m
Total
$m
Assets
Equity and stapled securities available-for-sale
-
Listed investments
1.6
-
-
1.6
-
Unlisted investments
-
-
72.3
72.3
Financial assets at fair value through profit or loss
-
Unlisted investments
-
-
51.8
51.8
Derivatives
-
4.5
-
4.5
Total assets
1.6
4.5
124.1
130.2
Liabilities
Derivatives
-
(1.4)
-
(1.4)
Total liabilities
-
(1.4)
-
(1.4)
148
