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Whitehaven Coal Limited : Annual Report 2008
Whitehaven Coal Limited - Annual Report 2008 NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2008 28. FINANCIAL INSTRUMENTS (CONTINUED) Interest rate risk Profile At the reporting date the interest rate profile of the Company’s and the consolidated entity’s interest-bearing financial instruments was: Consolidated Carrying amount In thousands of AUD Fixed rate instruments Financial liabilities Variable rate instruments Financial assets Financial liabilities Fair value sensitivity analysis for fixed rate instruments The consolidated entity does not account for any fixed rate financial assets and liabilities at fair value through profit or loss, therefore a change in interest rates at the reporting date would not affect profit or loss. Cash flow sensitivity analysis for variable rate instruments A change of 100 basis points in interest rates at the reporting date would have increased (decreased) equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency rates, remain constant. The analysis is performed on the same basis for 2007. Profit or loss Consolidated Effect in thousands of AUD 30 June 2008 Variable rate instruments Cash flow sensitivity (net) 30 June 2007 Variable rate instruments Cash flow sensitivity (net) Fair values Fair values versus carrying amounts The fair values of the Company and consolidated entity’s financial assets and financial liabilities at 30 June 2008 and 30 June 2007 approximate their carrying amounts. Estimation of fair values The methods used in determining the fair values of financial instruments are discussed in note 4. 100bp increase 906 906 45 45 100bp decrease (906) (906) (45) (45) 100bp increase – – – – Equity 100bp decrease – – – – Note 25 2008 (40,008) (40,008) 15 25 105,867 (15,218) 90,649 2007 (60,055) (60,055) 21,185 (16,640) 4,545 Consolidated Carrying amount 2008 – – 50 – 50 2007 – – 2,815 – 2,815 75
Annual Report 2009