23. Financial risk management continued 23.3 Liquidity risk
TOTAL CONTRACTUAL CASH FLOWS $M
PAYABLE <1 YEAR $M
PAYABLE 1–2 YEARS $M
PAYABLE 2–5 YEARS $M
PAYABLE >5 YEARS $M
Contractual cash flows maturity profile 2023 Non–derivative financial liabilities Trade payables
233.4
–
–
– –
233.4
3.7
3.6
3.7
11.0 91.2
Contract liabilities
11.9 89.9
16.6 77.7
16.0
46.7
Lease liabilities
174.4
114.7 979.4
456.7
Borrowings: interest Borrowings: principal
240.0
250.0
1,028.7
2,498.1
Derivative financial (assets)/liabilities Cross currency swaps: inflow
(39.1)
(39.1)
(437.8)
(1,094.0) 1,178.1
(1,610.0)
93.9
86.8
489.2
848.0
Cross currency swaps: outflow
(18.9)
(6.0)
– –
– –
(24.9)
Forward exchange contracts: inflow Forward exchange contracts: outflow
19.3
6.5
25.8
Net settled derivatives Interest rate swaps
(41.0)
(28.0)
(22.4)
(1.0)
(92.4)
Group contractual cash flows
593.1
368.1
1,251.8
1,223.9
3,436.9
TOTAL CONTRACTUAL CASH FLOWS $M
PAYABLE <1 YEAR $M
PAYABLE 1-2 YEARS $M
PAYABLE 2-5 YEARS $M
PAYABLE >5 YEARS $M
Contractual cash flows maturity profile 2022 Non-derivative financial liabilities Trade payables
159.7
–
–
– –
159.7
Contract liabilities
6.4
5.6 6.3
7.1 7.7
19.1 35.0
Lease liabilities
10.3
10.7
Borrowings: interest Borrowings: principal
101.8 927.5
89.2
212.5 727.2
149.4
552.9
240.0
1,506.4
3,401.1
Derivative financial (assets)/liabilities Cross currency swaps: inflow
(336.1)
(38.2)
(114.9)
(1,426.7) 1,504.0
(1,915.9) 2,107.5
Cross currency swaps: outflow
324.0
72.7
206.8
Forward exchange contracts: inflow Forward exchange contracts: outflow
(62.5)
(1.3)
(0.6)
– –
(64.4)
58.4
1.3
0.6
60.3
Net settled derivatives Interest rate swaps
(15.2)
(22.7)
(33.1)
(1.5)
(72.5)
Group contractual cash flows
1,74.3
352.9
1,013.3
1,742.3
4,282.8
Contractual cash flows
The above table shows the timing of non-discounted cash flows for all financial instrument liabilities and derivatives. The cash flows for bank facilities, included in borrowings, are disclosed on the basis of their contractual repayment terms for the individual drawdowns. The cash flows for capital bonds, included in borrowings, are disclosed as payable within 2-5 years year as the next election date set for the capital bonds is 15 June 2027 (2022: 2-5 year, with the election date of the last rollover as 15 June 2027) and the bonds have no contractual maturity date.
98
Vector Annual Report 2023
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