Page 109 - SAR141018_Forterra AR 2013

FORTERRA
ANNUAL REPORT 2013
NOTES TO THE
FINANCIAL STATEMENTS
107
12 DERIVATIVE FINANCIAL LIABILITIES
Group Trust
2013 2012 2013 2012
$’000 $’000 $’000 $’000
Financial derivative liabilities
Derivative component of
convertible debt securities – 54 – 54
Interest rate swaps used for hedging 85 1,240 – 166
85 1,294 – 220
Expiring within 1 year 85 166 – 166
Expiring between 1 and 5 years – 1,128 – 54
Derivative financial liabilities relate primarily to the fair value of floating-to-fixed interest rate
swaps entered into to manage the interest rate risk on the United States dollar denominated
floating rate bank loans. The notional amounts are disclosed in Note 29(c).
13 DEFERRED TAX LIABILITIES
Movements in deferred tax liabilities are as follows:
At
1 January
2012
Recognised
in statement
of profit
or loss
Translation
differences
Reclassified
to liabilities
held for sale
At
31
December
2012
Recognised
in statement
of profit
or loss
Recognised
in equity
Translation
differences
At
31
December
2013
$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000
Group
Investment
properties 434,407 26,862 (21,452) (72,761) 367,056 2,956 – 23,043 393,055
Convertible
debts 101 749 – – 850 – (304) – 546
434,508 27,611 (21,452) (72,761) 367,906 2,956 (304) 23,043 393,601
Trust
Convertible
debts 101 749 – – 850 – (304) – 546