Feedback

PDF Download Report

Integrated Annual Report 2012
The Culture of Values

 

logo Best Annual Report 2012
Grupa LOTOS S.A. - Integrated Annual Report 2012

32. Financial instruments

 

32.1 Carrying amount

Categories of financial instruments
Dec 31 2012
PLN '000
Note Financial assets/liabilities at fair value through profit or loss – held for trading Loans and receivables Financial assets available for sale (1) Financial liabilities at amortised cost Total
Classes of financial instruments            
Financial assets   121,334 2,162,373 9,756 - 2,293,463
Derivative financial instruments 29 121,334 - - - 121,334
Trade receivables 18 - 1,640,360 - - 1,640,360
Cash and cash equivalents 20 - 268,333 - - 268,333
Other financial assets 18 - 253,680 9,756 - 263,436
Financial liabilities    (179,325) - -  (9,023,399)  (9,202,724)
Borrowings, other debt instruments
and finance lease liabilities
28 - - -  (6,556,700)  (6,556,700)
Derivative financial instruments 29  (179,325) - - -  (179,325)
Trade and other payables 31 - - -  (2,178,760)  (2,178,760)
Other financial liabilities 31 - - -  (287,939)  (287,939)
Total    (57,991) 2,162,373 9,756  (9,023,399)  (6,909,261)

 

Categories of financial instruments
Dec 31 2011
PLN '000
Note Financial assets/liabilities at fair value through profit or loss – held for trading Loans and receivables Financial assets available for sale (1) Financial liabilities at amortised cost Total
Classes of financial instruments            
Financial assets   49,300 2,686,689 9,746 - 2,745,735
Derivative financial instruments 29 49,300 - - - 49,300
Trade receivables 18 - 2,075,562 - - 2,075,562
Cash and cash equivalents 20 - 383,680 - - 383,680
Other financial assets 18 - 227,447 9,746 - 237,193
Financial liabilities    (267,778) - -  (10,649,878)  (10,917,656)
Borrowings, other debt instruments
and finance lease liabilities
28 - - -  (7,588,629)  (7,588,629)
Derivative financial instruments 29  (267,778) - - -  (267,778)
Trade and other payables 31 - - -  (2,821,742)  (2,821,742)
Other financial liabilities 31 - - -  (239,507)  (239,507)
Total    (218,478) 2,686,689 9,746  (10,649,878)  (8,171,921)

(1) As at December 31st 2012 and December 31st 2011, the Group had equity interests in other entities, measured at historical cost less impairment losses (presented in Note 18).

As at December 31st 2012 and December 31st 2012, the fair value of financial assets and liabilities did not materially differ from their carrying amounts.

32.2 Fair value hierarchy

PLN '000 Dec 31 2012 Dec 31 2011
Level 1 Level 2 Level 1 Level 2
Financial assets - 132,858 8,304 40,996
Commodity swap - 45 - -
Futures (CO2 emissions) - - 8,304 -
Currency forward and spot contracts - 84,976 - 16,175
Interest rate swap (IRS) - 11,318 - 23,738
Currency swap - 36,519 - 1,083
Financial liabilities  (3,787)  (187,062)  (15,607)  (252,171)
Commodity swap -  (337) - -
Futures (CO2 emissions)  (3,787) -  (15,607) -
Currency forward and spot contracts -  (20,685) -  (51,889)
Interest rate swap (IRS) -  (148,007) -  (172,134)
Currency swap -  (18,033) -  (28,148)
Total  (3,787)  (54,204)  (7,303)  (211,175)

32.3 Items of income, expenses, gains and losses disclosed in the statements of comprehensive income by category of financial instrument

Categories of financial instruments
Year ended
Dec 31 2012
PLN '000
Note Financial assets/liabilities at fair value through profit or loss – held for trading Loans and receivables Financial assets available for sale Financial liabilities at amortised cost Total
Classes of financial instruments            
Shares:   - - 150 - 150
Gains/(losses) on sale recognised in finance income   - - 150 - 150
Trade receivables:   -  (43,876) - -  (43,876)
Interest income recognised in finance income   - 8,812 - - 8,812
Foreign exchange gains/(losses) recognised in cost of sales   -  (54,471) - -  (54,471)
Foreign exchange gains/(losses) recognised in finance income   -  (3,229) - -  (3,229)
Reversal/(recognition) of impairment losses recognised in other income/(expenses)   - 5,012 - - 5,012
Cash and cash equivalents:   -  (27,085) - -  (27,085)
Interest income recognised in finance income   - 1,309 - - 1,309
Foreign exchange gains/(losses) recognised
in finance income
  -  (28,394) - -  (28,394)
Other financial assets:   -  (99,495) - -  (99,495)
Interest income recognised in finance income   - 14,959 - - 14,959
Foreign exchange gains/(losses) recognised
in finance income
  -  (114,454) - -  (114,454)
Derivative financial instruments (financial assets/liabilities): 9.3 117,772 - - - 117,772
Gains/(losses) on fair value measurement of derivative financial instruments recognised in finance income   159,096 - - - 159,096
Gains/(losses) on realisation of derivative financial instruments recognised in finance income    (41,324) - - -  (41,324)
Borrowings, other debt instruments and finance lease liabilities   - - - 564,636 564,636
Interest expenses recognised in finance costs   - - -  (191,754)  (191,754)
Foreign exchange gains/(losses) recognised in finance income   - - - 284,193 284,193
Gains/(losses) on measurement of cash flow
hedges recognised in other comprehensive income (net)
  - - - 472,197 472,197
Trade and other payables   - - - 24,202 24,202
Interest expenses recognised in finance costs   - - -  (88)  (88)
Foreign exchange gains/(losses) recognised
in cost of sales
  - - - 23,275 23,275
Foreign exchange gains/(losses) recognised
in finance income
  - - - 1,015 1,015
Other financial liabilities:   - - -  (2,266)  (2,266)
Interest expenses recognised in finance costs   - - -  (19,247)  (19,247)
Foreign exchange gains/(losses) recognised
in finance income
  - - - 16,981 16,981
Total   117,772  (170,456) 150 586,572 534,038

 

Categories of financial instruments
Year ended
Dec 31 2011
PLN '000
Note Financial assets/liabilities at fair value through profit or loss – held for trading Loans and receivables Financial assets available for sale Financial liabilities at amortised cost Total
Classes of financial instruments            
Shares:   - - 957 - 957
Gains/(losses) on sale recognised in finance income/(costs)   - - 957 - 957
Trade receivables:   - 11,256 - - 11,256
Interest income recognised in finance income   - 8,197 - - 8,197
Foreign exchange gains/(losses) recognised in cost of sales   - 5,604 - - 5,604
Foreign exchange gains/(losses) recognised in finance costs   - 4,357 - - 4,357
Reversal/(recognition) of impairment losses recognised in other income/(expenses)   -  (6,902) - -  (6,902)
Cash and cash equivalents:   - 34,750 - - 34,750
Interest income recognised in finance income   - 930 - - 930
Foreign exchange gains/(losses) recognised in finance costs   - 33,820 - - 33,820
Other financial assets:   - 150,553 - - 150,553
Interest income recognised in finance income   - 11,075 - - 11,075
Foreign exchange gains/(losses) recognised in finance costs   - 139,478 - - 139,478
Derivative financial instruments (financial assets/liabilities): 9.7  (130,430) - - -  (130,430)
Gains/(losses) on fair value measurement of derivative financial instruments recognised in finance costs    (9,769) - - -  (9,769)
Gains/(losses) on realisation of derivative financial instruments recognised in finance costs    (120,661) - - -  (120,661)
Borrowings, other debt instruments and finance lease liabilities   - - -  (1,061,121)  (1,061,121)
Interest expenses recognised in finance costs   - - -  (157,833)  (157,833)
Foreign exchange gains/(losses) recognised in finance costs   - - -  (386,396)  (386,396)
Gains/(losses) on measurement of cash flow hedges recognised in other comprehensive income(net)   - - -  (516,892)  (516,892)
Trade and other payables   - - -  (326,850)  (326,850)
Interest expenses recognised in finance costs   - - -  (323)  (323)
Foreign exchange (gains)/losses recognised in cost of sales   - - -  (324,970)  (324,970)
Foreign exchange gains/(losses) recognised in finance costs   - - -  (1,557)  (1,557)
Other financial liabilities:   - - -  (34,689)  (34,689)
Interest expenses recognised in finance costs   - - -  (10,200)  (10,200)
Foreign exchange gains/(losses) recognised in finance costs   - - -  (24,489)  (24,489)
Total    (130,430) 196,559 957  (1,422,660)  (1,355,574)

Briefcase

Place for bookmarking and printing your pages

Your pages    
Twoje strony    
×

Your feedback about this Report

×