Notes to the Group financial statements

for the year ended 31 March 2009

26. Additional information on financial liabilities

(a) Analysis of liabilities by contractual repricing dates:

1.

These represent the gross notional values of interest rate swaps.

2.

VAT and other tax payable of US$32m (2008: US$52m), social security costs of US$78m (2008: US$95m) and certain accruals and deferred income of US$447m (2008: US$474m) are included in trade and other payables in note 21 but are excluded from this analysis.

At 31 March 2009

Less than
1 year
US$m

1 – 2
years
US$m

2 – 3
years
US$m

3 – 4
years
US$m

4 – 5
years
US$m

Over 5
years
US$m

 

Total
US$m

Loans and borrowings

1,794

3

2

–

518

–

 

2,317

Effect of interest rate swaps1

(632)

444

343

174

(329)

–

 

–

Other derivative financial liabilities

21

23

34

17

2

–

 

97

Put option in respect of acquisition of Serasa minority interest

424

–

–

–

–

–

 

424

Trade and other payables2

459

12

9

–

–

–

 

480

 

2,066

482

388

191

191

–

 

3,318

 

 

 

 

 

 

 

 

 

At 31 March 2008

Less than
1 year
US$m

1 – 2
years
US$m

2 – 3
years
US$m

3 – 4
years
US$m

4 – 5
years
US$m

Over 5
years
US$m

 

Total
US$m

Loans and borrowings

1,448

737

4

1

–

660

 

2,850

Effect of interest rate swaps1

(185)

(210)

475

379

209

(668)

 

–

Other derivative financial liabilities

50

15

21

26

9

20

 

141

Put option in respect of acquisition of Serasa minority interest

583

–

–

–

–

–

 

583

Trade and other payables2

666

25

23

1

–

–

 

715

 

2,562

567

523

407

218

12

 

4,289

(b) Analysis of financial liabilities by currency:

1.

These represent the gross notional values of foreign exchange contracts.

2.

VAT and other tax payable of US$32m (2008: US$52m), social security costs of US$78m (2008: US$95m) and certain accruals and deferred income of US$447m (2008: US$474m) are included in trade and other payables in note 21 but are excluded from this analysis.

At 31 March 2009

Sterling
US$m

US dollar
US$m

Brazilian
real
US$m

Euro
US$m

Other
US$m

 

Total
US$m

Loans and borrowings

827

1,480

9

1

–

 

2,317

Effect of forward foreign exchange contracts1

(494)

232

–

262

–

 

–

Other derivative financial liabilities

23

57

–

16

1

 

97

Put option in respect of acquisition of Serasa minority interest

–

–

424

–

–

 

424

Trade and other payables2

138

209

34

58

41

 

480

 

494

1,978

467

337

42

 

3,318

 

 

 

 

 

 

 

 

At 31 March 2008

Sterling
US$m

US dollar
US$m

Brazilian
real
US$m

Euro
US$m

Other
US$m

 

Total
US$m

Loans and borrowings

1,392

1,438

16

4

–

 

2,850

Effect of forward foreign exchange contracts1

(900)

611

–

222

67

 

–

Other derivative financial liabilities

84

55

–

2

–

 

141

Put option in respect of acquisition of Serasa minority interest

–

–

583

–

–

 

583

Trade and other payables2

211

283

76

127

18

 

715

 

787

2,387

675

355

85

 

4,289

(c) Analysis of financial liabilities by interest rate profile:

1.

This represents the effect of interest rate swaps on the interest rate profile.

2.

VAT and other tax payable of US$32m (2008: US$52m), social security costs of US$78m (2008: US$95m) and certain accruals and deferred income of US$447m (2008: US$474m) are included in trade and other payables in note 21 but are excluded from this analysis.

At 31 March 2009

Floating
US$m

Fixed
US$m

Non-interest
bearing
US$m

 

Total
US$m

Loans and borrowings

1,790

527

–

 

2,317

Effect of interest rate swaps1

(632)

632

–

 

–

Other derivative financial liabilities

97

–

–

 

97

Put option in respect of acquisition of Serasa minority interest

–

–

424

 

424

Trade and other payables2

–

–

480

 

480

 

1,255

1,159

904

 

3,318

 

 

 

 

 

 

At 31 March 2008

Floating
US$m

Fixed
US$m

Non-interest
bearing
US$m

 

Total
US$m

Loans and borrowings

1,443

1,407

–

 

2,850

Effect of interest rate swaps1

(185)

185

–

 

–

Other derivative financial liabilities

141

–

–

 

141

Put option in respect of acquisition of Serasa minority interest

–

–

583

 

583

Trade and other payables2

33

70

612

 

715

 

1,432

1,662

1,195

 

4,289

(d) Analysis by maturity profile (contractual, undiscounted-cash flows):

1.

Cash flows in respect of VAT, other tax payable, social security costs and accruals are excluded from this analysis.

At 31 March 2009

Less than
1 year
US$m

1 – 2
years
US$m

2 – 3
years
US$m

3 – 4
years
US$m

4 – 5
years
US$m

Over 5
years
US$m

 

Total
US$m

Loans and borrowings

321

32

30

1,509

522

–

 

2,414

Net settled derivative financial instruments (note 25 (c))

15

23

11

–

(5)

–

 

44

Gross settled derivative financial instruments (note 25 (c))

642

–

–

–

–

–

 

642

Put option in respect of acquisition of Serasa minority interest

–

–

–

595

–

–

 

595

Trade and other payables1

449

18

12

2

1

4

 

486

 

1,427

73

53

2,106

518

4

 

4,181

 

 

 

 

 

 

 

 

 

At 31 March 2008

Less than
1 year
US$m

1 – 2
years
US$m

2 – 3
years
US$m

3 – 4
years
US$m

4 – 5
years
US$m

Over 5
years
US$m

 

Total
US$m

Loans and borrowings

127

783

43

41

1,473

701

 

3,168

Net settled derivative financial instruments (note 25 (c))

34

–

17

13

12

12

 

88

Gross settled derivative financial instruments (note 25 (c))

1,223

–

–

–

–

–

 

1,223

Put option in respect of acquisition of Serasa minority interest

–

–

–

–

1,003

–

 

1,003

Trade and other payables1

669

26

25

1

1

–

 

722

 

2,053

809

85

55

2,489

713

 

6,204

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