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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2015
122 Independence Group NL
Notes to the consolidated financial statements
30 June 2015
4 Financial risk management (continued)
(c) Liquidity risk (continued)
Contractual maturities of financial liabilities
Less than
6 months
6 - 12
months
Between
1 and 5
years
Total
contractual
cash
flows
Carrying
amount
$'000
$'000
$'000
$'000
$'000
At 30 June 2015
Trade and other payables
40,476
-
-
40,476 40,476
Finance lease liabilities
458
64
-
522
510
40,934
64
-
40,998 40,986
At 30 June 2014
Trade and other payables
42,982
-
-
42,982 42,982
Finance lease liabilities
2,300
1,371
522
4,193
4,018
Bank loans
-
-
25,000 25,000 24,344
45,282
1,371 25,522 72,175 71,344
The following table details the Group’s liquidity analysis for its derivative financial instruments. The table is based on the
undiscounted net cash inflows/(outflows) on the derivative instrument that settles on a net basis. When the net amount
payable is not fixed, the amount disclosed has been determined by reference to the projected forward curves existing at
the reporting date.
Less than
6 months
6 - 12
months
Between
1 and 5
years
Total
contractual
cash
flows
Carrying
amount
$'000
$'000
$'000
$'000
$'000
At 30 June 2015
Commodity hedging contracts
100
662
717
1,479
1,479
Foreign currency hedging contracts
1,622
-
-
1,622
1,622
1,722
662
717
3,101
3,101
At 30 June 2014
Commodity hedging contracts
3,013
3,368
-
6,381
6,381
3,013
3,368
-
6,381
6,381
(d) Recognised fair value measurements
(i)
Fair value hierarchy
The fair value of financial assets and liabilities must be estimated for recognition and measurement or for disclosure
purposes.
AASB 13
Fair Value Measurement
requires disclosure of fair value measurements by level of the following fair value
measurement hierarchy:
(a) quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1);
(b) inputs other than quoted prices included within level 1 that are observable for the asset or liability, either
directly (as prices) or indirectly (derived from prices) (level 2); and
(c) inputs for the asset or liability that are not based on observable market data (unobservable inputs) (level 3).
The following table presents the Group’s assets and liabilities measured and recognised at fair value at 30 June 2015
and 30 June 2014 on a recurring basis.
Independence Group NL
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