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Notes to the consolidated fnancial statements (continued)
for the year ended 30 June 2011
13. Defned beneft fund obligations (continued)
13.3 Current fnancial summary (continued)
CONSOLIDATED
2011 2010 $m $m
Expected return on fund assets, current service and interest costs are recognised in proft or loss and included in the statement of comprehensive income as:
Other income 2 1 Operating expense (2) (3) – (2)
Recognised in other comprehensive income
Actuarial losses (gains) 11 (5) Cumulative actuarial losses (gains) recognised in other comprehensive income 11 – Actual return on fund assets (1) 19
% %
Major categories of funds assets as a percentage of total fund assets:
Cash 8 6 Equities 56 58 Listed property 2 5 Fixed income 29 30 Other 5 1
14. Derivatives
CONSOLIDATED
2011 2010 Notional Fair value Notional Fair value value Asset Liability value Asset Liability $m $m $m $m $m $m
Exchange rate-related contracts
Forward foreign exchange contracts 5,377 22 (58) 3,533 74 (31) Cross currency swaps 9,144 – (2,306) 15,546 287 (1,865) Currency options 27 – – 44 1 (1) 14,548 22 (2,364) 19,123 362 (1,897)
Interest rate-related contracts
Forward rate agreements 1,000 – – 7,050 – (1) Interest rate swaps 47,116 141 (213) 50,408 465 (557) Interest rate swaptions 384 1 (1) – – – Interest rate futures 4,103 2 (1) 4,428 2 – Interest rate options 268 – (1) 629 4 (3) 52,871 144 (216) 62,515 471 (561)
Equity contracts
Equity futures 26 – – 43 – (3) Total derivative exposures – current 67,445 166 (2,580) 81,681 833 (2,461)
A description of how the Suncorp Group uses derivatives can be found in note 34.7.
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