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Notes to the Financial Statements 2018
16. Financial instruments continued
In assessing ECLs on trade receivables the group considers both quantitative and qualitative inputs. Quantitative data includes past collection rates, industry statistics, ageing of receivables, and trading outlook. Qualitative inputs include past trading history with the Group. (ii) Derivative financial instruments and the investment of cash The Group enters into derivative financial instruments and invests cash with various counterparties in accordance with established limits as to credit rating and dollar value but does not require collateral or other security except in limited circumstances. In accordance with the established counterparty restrictions, there are no significant concentrations of credit risk in respect of the financial instruments and no loss is expected. The Group has not renegotiated the terms of any financial assets that would otherwise be overdue or impaired. The carrying amount of non-derivative financial assets represents the maximum credit exposure. The carrying amount of derivative financial assets are at their Liquidity risk is the risk that the Group will encounter difficulty in meeting its financial commitments as they fall due. The Group manages its liquidity risk by maintaining a target level of undrawn committed credit facilities and a spread of the maturity dates of the Group's debt facilities. The Group reviews its liquidity requirements on an ongoing basis. The following maturity analysis table sets out the remaining contractual undiscounted cash flows, including estimated interest payments for non-derivative financial liabilities and derivative financial instruments. Creditors and accruals are excluded from this analysis as they are not part of the Group's assessment of liquidity risk because these are offset by debtors with similar payment terms. current fair value. (e) Liquidity risk
Contractual cash flows NZ$M
Up to 1 Year NZ$M
Over 5 Years NZ$M
1-2 Years NZ$M
2-5 Years NZ$M
Fletcher Building Group – June 2018
97
97
Bank loans
566
150
200 195
216 193
Capital notes
1,212
824
Private placements
94
35
15
2
42
Other loans
Non-derivative financial liabilities – principal cash flows
1,969
185
410
508
866 648
710
62
Gross settled derivatives – to pay Gross settled derivatives – to receive
(802)
(85) (23)
(717)
Debt derivatives financial instruments – principal cash flows
(92)
(69)
Total principal cash flows
1,877
185
410
485
797
Contractual interest cash flows
558
113
91
191
163
Total contractual cash flows
2,435
298
501
676
960
Contractual cash flows NZ$M
Up to 1 Year NZ$M
Over 5 Years NZ$M
1-2 Years NZ$M
2-5 Years NZ$M
Fletcher Building Group – June 2017
Bank loans
389 400
374
15
Capital notes
71
98
231 363
Private placements
1,262
139
760
Other loans
121
59
3
19
40
Non-derivative financial liabilities – principal cash flows
2,172 1,041
269
475
628
800 981
Gross settled derivatives – to pay Gross settled derivatives – to receive
60
(1,083)
(80) (20)
(1,003)
Debt derivatives financial instruments – principal cash flows
(42)
(22)
Total principal cash flows
2,130
269
475
608
778
Contractual interest cash flows
542
100
87
178
177
Total contractual cash flows
2,672
369
562
786
955
82 Fletcher Building Limited Annual Report 2018
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