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Whitehaven Coal Limited : Annual Report 2011
78 noteS to the Financial StatementS 30 june 2011 5. fiNANCiAL Risk mANAGEmENT OBJECTivEs ANd POLiCiEs (CONTiNuEd) Risk exposures and responses (continued) Interest rate risk The consolidated entity’s borrowings comprise both variable and fixed rate instruments The variable rate borrowings expose the consolidated entity to a risk of changes in cash flows due to the changes in interest rates The consolidated entity does not engage in any hedging to mitigate interest rate risk, instead management analyses its exposure on an ongoing basis At the reporting date the interest rate profile of the consolidated entity’s interest-bearing financial instruments was: Consolidated Carrying amount In thousands of AUD 2011 2010 fixed rate instruments Financial liabilities (132,263) (94,929) (132,263) (94,929) variable rate instruments Financial assets 207,602 141,049 Financial liabilities (46,330) – 161,272 141,049 Net exposure 29,009 46,120 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 2010 Profit or loss Effect in thousands of AUD 100bp increase 100bp decrease 30 June 2011 Variable rate instruments 1,613 (1,613) Cash flow sensitivity (net) 1,613 (1,613) 30 June 2010 Variable rate instruments 1,410 (1,410) Cash flow sensitivity (net) 1,410 (1,410)
Annual Report 2010
Annual Report 2012