v3.26.1
Financial instruments - Fair values and risk management (Tables)
12 Months Ended
Mar. 31, 2026
Financial instruments - Fair values and risk management  
Schedule of carrying value of financial assets by class and measurement category

Assets at

Cash-

Fair value

Total

Amortized

Flow

through

Carrying

Total Fair

Cost

 Hedges

Profit & Loss

Value

Value

  ​ ​ ​

€M

  ​ ​ ​

€M

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

At March 31, 2026

Cash and cash equivalents

 

2,733.4

2,733.4

Financial asset: cash > 3 months

 

812.4

812.4

Restricted cash

 

31.2

31.2

Derivative financial instruments:

- U.S. dollar currency forward contracts

 

128.2

128.2

128.2

- Jet fuel & carbon derivative contracts

 

2,098.1

2,098.1

2,098.1

Trade receivables

 

44.2

44.2

Total financial assets at March 31, 2026

 

3,621.2

2,226.3

5,847.5

2,226.3

Assets at

Cash-

Fair value

Total

Amortized

Flow

through

Carrying

Total Fair

Cost

 Hedges 

Profit & Loss

Value

Value

  ​ ​ ​

€M

  ​ ​ ​

€M

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

At March 31, 2025

Cash and cash equivalents

 

3,863.3

 

 

3,863.3

 

Financial asset: cash > 3 months

 

100.1

 

 

100.1

 

Restricted cash

 

23.1

 

 

23.1

 

Derivative financial instruments:

- U.S. dollar currency forward contracts

 

90.2

 

90.2

 

90.2

- Jet fuel & carbon derivative contracts

 

 

19.6

 

19.6

 

19.6

Trade receivables

 

73.5

 

 

73.5

 

Total financial assets at March 31, 2025

 

4,060.0

 

109.8

 

4,169.8

 

109.8

Assets at

Cash-

Fair value

Total

Amortized

Flow

through

Carrying

Total Fair

 

Cost

 

Hedges

Profit & Loss

 

Value

 

Value

  ​ ​ ​

€M

  ​ ​ ​

€M

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

At March 31, 2024

Cash and cash equivalents

 

3,875.4

 

 

3,875.4

 

Financial asset: cash > 3 months

 

237.8

 

 

237.8

 

Restricted cash

 

6.4

 

 

6.4

 

Derivative financial instruments:

- U.S. dollar currency forward contracts

 

 

147.2

 

147.2

 

147.2

- Jet fuel & carbon derivative contracts

 

205.6

 

205.6

 

205.6

Trade receivables

 

76.4

 

 

76.4

 

Total financial assets at March 31, 2024

 

4,196.0

 

352.8

 

4,548.8

 

352.8

Schedule of carrying value of financial liabilities by class and measurement category

Liabilities at

Fair value

Total

Amortized

Cash-Flow

through

Carrying

Total Fair

Cost

Hedges

Profit & Loss

Value

Value

  ​ ​ ​

€M

  ​ ​ ​

€M

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

At March 31, 2026

Current maturities of debt

 

1,198.8

1,198.8

1,196.4

Non-current maturities of debt

147.8

147.8

147.8

Derivative financial instruments:

 

-U.S. dollar currency forward contracts

 

79.6

79.6

79.6

-Jet fuel & carbon derivative contracts

 

70.5

70.5

70.5

Trade payables

609.8

609.8

Accrued expenses

 

2,221.6

2,221.6

Lease liabilities - right of use

144.9

144.9

Total financial liabilities at March 31, 2026

 

4,322.9

 

150.1

 

4,473.0

1,494.3

Liabilities at

Fair value

Total

Amortized

Cash-Flow

through

Carrying

Total Fair

Cost

Hedges

Profit & Loss

Value

Value

€M

  ​ ​ ​

€M

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

At March 31, 2025

Current maturities of debt

 

848.4

848.4

850.3

Non-current maturities of debt

1,685.2

1,685.2

1,661.4

Derivative financial instruments:

 

-U.S. dollar currency forward contracts

 

2.7

2.7

2.7

-Jet fuel & carbon derivative contracts

 

224.5

224.5

224.5

Trade payables

 

702.0

702.0

Accrued expenses

 

1,953.5

1,953.5

Lease liabilities - right of use

149.1

149.1

Total financial liabilities at March 31, 2025

 

5,338.2

 

227.2

 

5,565.4

 

2,738.9

Liabilities at

Fair value

Total

Amortized

Cash-Flow

through

Carrying

Total Fair

Cost

Hedges

Profit & Loss

Value

Value

€M

  ​ ​ ​

€M

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

At March 31, 2024

Current maturities of debt

 

50.0

50.0

50.0

Non-current maturities of debt

2,532.2

2,532.2

2,460.3

Derivative financial instruments:

 

-U.S. dollar currency forward contracts

 

3.3

3.3

3.3

-Jet fuel & carbon derivative contracts

 

178.8

178.8

178.8

Trade payables

792.2

792.2

Accrued expenses

 

1,603.1

1,603.1

Lease liabilities - right of use

164.6

164.6

Total financial liabilities at March 31, 2024

 

5,142.1

 

182.1

 

5,324.2

 

2,692.4

Schedule of estimated fair values

Level 1

Level 2

Level 3

Total

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

At March 31, 2026

Derivative assets measured at fair value for risk management purposes

U.S. dollar currency forward contracts

 

128.2

128.2

Jet fuel & carbon derivative contracts

 

2,098.1

2,098.1

 

2,226.3

2,226.3

Derivative liabilities measured at fair value for risk management purposes

U.S. currency forward contracts

 

79.6

79.6

Jet fuel & carbon derivative contracts

 

70.5

70.5

 

150.1

150.1

Financial liabilities not measured at fair value

Debt

 

1,344.2

1,344.2

1,344.2

1,344.2

Total

 

3,720.6

3,720.6

Level 1

Level 2

Level 3

Total

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

At March 31, 2025

Derivative assets measured at fair value for risk management purposes

U.S. dollar currency forward contracts

 

 

90.2

 

 

90.2

Jet fuel & carbon derivative contracts

 

 

19.6

 

 

19.6

 

 

109.8

 

 

109.8

Derivative liabilities measured at fair value for risk management purposes

U.S. currency forward contracts

 

 

2.7

 

 

2.7

Jet fuel & carbon derivative contracts

 

 

224.5

 

 

224.5

 

 

227.2

 

 

227.2

Financial liabilities not measured at fair value

Debt

 

 

2,511.7

 

 

2,511.7

2,511.7

2,511.7

Total

 

 

2,848.7

 

 

2,848.7

Level 1

Level 2

Level 3

Total

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

At March 31, 2024

Derivative assets measured at fair value for risk management purposes

U.S. dollar currency forward contracts

 

 

147.2

 

 

147.2

Jet fuel & carbon derivative contracts

 

 

205.6

 

 

205.6

 

 

352.8

 

 

352.8

Derivative liabilities measured at fair value for risk management purposes

U.S. currency forward contracts

 

 

3.3

 

 

3.3

Jet fuel & carbon derivative contracts

 

 

178.8

 

 

178.8

 

 

182.1

 

 

182.1

Financial liabilities not measured at fair value

Debt

 

2,510.3

 

 

2,510.3

2,510.3

2,510.3

Total

 

 

3,045.2

 

 

3,045.2

Schedule of monetary assets

At March 31,

2026

2025

2024

GBP

U.S.$

Euro €

GBP

U.S.$

Euro €

GBP

U.S.$

Euro €

  ​ ​ ​

£M

  ​ ​ ​

$M

  ​ ​ ​

€M

  ​ ​ ​

£M

  ​ ​ ​

$M

  ​ ​ ​

€M

  ​ ​ ​

£M

  ​ ​ ​

$M

  ​ ​ ​

€M

Monetary assets

UK pounds sterling cash and liquid resources

 

109.9

125.9

 

90.5

108.1

 

55.6

 

65.1

U.S. Dollar cash and liquid resources

 

115.4

99.9

 

737.6

681.9

 

785.5

 

727.8

 

109.9

115.4

 

225.8

 

90.5

737.6

 

790.0

 

55.6

785.5

 

792.9

Schedule of monetary liabilities

At March 31,

2026

2025

2024

GBP

U.S.$

Euro €

GBP

U.S.$

Euro €

GBP

U.S.$

Euro €

  ​ ​ ​

£M

$M

  ​ ​ ​

€M

  ​ ​ ​

£M

$M

  ​ ​ ​

€M

  ​ ​ ​

£M

$M

  ​ ​ ​

€M

Monetary liabilities*

Pre-delivery payments due to Boeing

215.0

198.8

215.0

 

198.8

 

*During FY24, the Group (non-cash) settled non-interest-bearing promissory notes to the value of approximately €230m (U.S.$250m).

Schedule of exchange rates

£

$

March 31, 2024

1.0000

0.8548

1.0793

March 31, 2025

1.0000

0.8371

1.0817

March 31, 2026

1.0000

0.8732

1.1552

Schedule of notional amounts of currency forward contracts

The notional principal amounts of forward foreign exchange contracts are as follows:

At March 31,

2026

2025

2024

€M

€M

€M

Within 1 Year

4,095.7

4,299.3

4,403.6

Greater than 1 Year

3,728.2

1,141.2

447.9

Total

7,823.9

5,440.5

4,851.5

Schedule of maturity profile of financial liabilities

The following was the maturity profile of the Group’s financial liabilities (excluding aircraft provisions, trade payables and accrued expenses).

Weighted

average

rate

2027

2028

2029

2030

2031 and thereafter

Total

At March 31, 2026

  ​ ​ ​

(%)

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

Fixed rate

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Unsecured debt

 

0.88%

1,198.8

1,198.8

Debt

 

0.88%

1,198.8

1,198.8

Lease liabilities - right of use

4.89%

39.8

39.1

27.3

8.6

30.1

144.9

Total fixed rate debt

 

1,238.6

39.1

27.3

8.6

30.1

1,343.7

Floating rate

 

Unsecured long term debt

2.44%

147.8

147.8

Total floating rate debt

 

2.44%

147.8

147.8

Total financial liabilities

 

1,238.6

39.1

27.3

156.4

30.1

1,491.5

Weighted

average

2030 -

rate

2026

2027

2028

2029

2031

Total

At March 31, 2025

  ​ ​ ​

(%)

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

Fixed rate

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Unsecured debt

 

1.70%

848.4

1,196.3

2,044.7

Debt

 

1.70%

848.4

1,196.3

2,044.7

Lease liabilities - right of use

4.89%

37.4

37.9

38.8

27.1

7.9

149.1

Total fixed rate debt

 

 

885.8

1,234.2

38.8

27.1

7.9

2,193.8

Floating rate

 

Unsecured long term debt

2.67%

488.9

488.9

Total floating rate debt

 

2.67%

488.9

488.9

Total financial liabilities

 

  ​

 

885.8

1,234.2

38.8

27.1

496.8

2,682.7

Weighted

average

2029 -

rate

2025

2026

2027

2028

2031

Total

At March 31, 2024

  ​ ​ ​

(%)

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

Fixed rate

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Unsecured debt

 

1.67%

50.0

843.4

 

1,198.8

 

 

 

2,092.2

Debt

 

1.67%

50.0

 

843.4

 

1,198.8

 

 

 

2,092.2

Lease liabilities - right of use

 

4.43%

39.4

31.9

32.1

32.7

28.5

164.6

Total fixed rate debt

 

  ​

89.4

 

875.3

 

1,230.9

 

32.7

 

28.5

 

2,256.8

Floating rate

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Unsecured long term debt

4.30%

490.0

490.0

Total floating rate debt

 

4.30%

 

 

 

 

490.0

 

490.0

Total financial liabilities

  ​

 

89.4

 

875.3

 

1,230.9

 

32.7

 

518.5

 

2,746.8

Schedule of significant cash balances invested on short term basis

At March 31,

2026

2025

2024

Within

Within

Within

1 year

1 year

1 year

Financial assets

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

Cash and cash equivalents

 

2,733.4

 

3,863.3

 

3,875.4

Cash > 3 months

 

812.4

 

100.1

 

237.8

Restricted cash

 

31.2

 

23.1

 

6.4

Total financial assets

 

3,577.0

 

3,986.5

 

4,119.6

Schedule of maturities of contractual cash flows of financial liabilities

Total

Total

Carrying

Contractual

Value

Cash Flows

2027

2028

2029

2030

Thereafter

At March 31, 2026

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

Long and short term debt and leases:

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

- Fixed rate debt: 0.88%

 

1,198.8

1,209.3

1,209.3

- Floating rate debt: 2.44%

 

147.8

164.8

3.7

3.7

3.7

153.7

- Lease liabilities

 

144.9

167.9

44.4

42.9

29.6

9.9

41.1

 

1,491.5

1,542.0

1,257.4

46.6

33.3

163.6

41.1

Derivative financial instruments

 

- Currency forward contracts – outflows

 

79.6

2,470.7

2,297.5

139.9

26.6

6.7

- Currency forward contracts – inflows

(2,408.9)

(2,240.2)

(135.7)

(26.3)

(6.7)

- Commodity forward contracts

 

70.5

70.5

70.5

Trade payables

 

609.8

609.8

609.8

Accrued expenses

 

2,221.6

2,221.6

2,221.6

Total at March 31, 2026

 

4,473.0

4,505.7

4,216.6

50.8

33.6

163.6

41.1

Total

Total

Carrying

Contractual

Value

Cash Flows

2026

2027

2028

2029

Thereafter

At March 31, 2025

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

Long and short term debt and leases:

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

- Fixed rate debt: 1.7%

 

2,044.7

2,092.0

882.7

1,209.3

- Floating rate debt: 2.67%

 

488.9

556.3

13.3

13.4

13.2

13.2

503.2

- Lease liabilities

 

149.1

163.6

43.1

42.7

41.6

28.1

8.1

 

2,682.7

 

2,811.9

 

939.1

 

1,265.4

 

54.8

 

41.3

 

511.3

Derivative financial instruments

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

- Currency forward contracts – outflows

 

2.7

508.6

51.6

327.3

116.5

7.0

6.2

- Currency forward contracts – inflows

(519.4)

(51.5)

(333.7)

(120.3)

(7.3)

(6.6)

- Commodity forward contracts

 

224.5

224.5

224.5

Trade payables

 

702.0

702.0

702.0

Accrued expenses

 

1,953.5

1,953.5

1,953.5

Total at March 31, 2025

 

5,565.4

 

5,681.1

 

3,819.2

 

1,259.0

 

51.0

 

41.0

 

510.9

Total

Total

Carrying

Contractual

Value

Cash Flows

2025

2026

2027

2028

Thereafter

At March 31, 2024

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

  ​ ​ ​

€M

Long and short term debt and leases:

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

- Fixed rate debt: 1.67%

 

2,092.2

2,172.7

85.0

878.3

1,209.4

- Floating rate debt: 4.30%

 

490.0

579.2

21.2

21.3

21.3

21.5

493.9

- Lease liabilities

164.6

183.1

45.5

37.1

36.1

34.9

29.5

 

2,746.8

 

2,935.0

 

151.7

 

936.7

 

1,266.8

 

56.4

 

523.4

Derivative financial instruments

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

- Currency forward contracts – outflows

 

3.3

188.3

7.0

10.6

10.0

133.6

27.1

- Currency forward contracts – inflows

(195.0)

(7.0)

(10.7)

(10.2)

(138.5)

(28.6)

- Commodity forward contracts

 

178.8

178.8

178.8

Trade payables

 

792.2

792.2

792.2

Accrued expenses

 

1,603.1

1,603.1

1,603.1

Total at March 31, 2024

 

5,324.2

 

5,502.4

 

2,725.8

 

936.6

 

1,266.6

 

51.5

 

521.9

Schedule of derivative financial instruments

Derivative financial instruments:

At March 31, 

2026

2025

2024

€M

€M

€M

Foreign currency risk

Property, plant and equipment - aircraft additions

84.8

7.7

60.3

Fuel and oil operating expenses

(36.2)

79.8

83.6

Commodity price risk

Fuel and carbon operating expenses

2,027.6

(204.9)

26.8

Net derivative position at year end

2,076.2

(117.4)

170.7

Schedule of change in gross value used for calculating hedge ineffectiveness

Change in gross value used for calculating hedge ineffectiveness:

At March 31, 

2026

2025

2024

€M

€M

€M

Foreign currency risk

Property, plant and equipment - aircraft additions

(13.4)

149.8

515.0

Fuel and oil operating expenses

(14.4)

114.6

(117.7)

Commodity price risk

Fuel and carbon operating expenses

(2,399.9)

154.3

(398.8)

Total

(2,427.7)

418.7

(1.5)

Schedule of hedged items

At March 31, 2026

Continuing

Balance

hedges

remaining

Total

€M

€M

€M

Foreign currency risk

Property, plant and equipment - aircraft additions

(84.8)

(84.8)

Fuel and oil operating expenses

28.6

28.6

Commodity price risk

Fuel and carbon operating expenses

(2,027.6)

(2,027.6)

Gross cashflow hedge reserve

(2,083.8)

(2,083.8)

*Deferred taxes included in Hedge reserve were €253m

At March 31, 2025

Continuing

Balance

hedges

remaining **

Total

€M

€M

€M

Foreign currency risk

Property, plant and equipment - aircraft additions

(7.7)

(76.1)

(83.8)

Fuel and oil operating expenses

(84.7)

(84.7)

Commodity price risk

Fuel and carbon operating expenses

204.9

204.9

Gross cashflow hedge reserve

112.5

(76.1)

36.4

*Deferred taxes included in Hedge reserve were €15m

** Balance remaining in the cashflow hedge reserve for which hedge accounting is no longer applied

At March 31, 2024

Continuing

Balance

hedges

remaining **

Total

€M

€M

€M

Foreign currency risk

Property, plant and equipment - aircraft additions

(30.0)

(142.6)

(172.6)

Fuel and oil operating expenses

(83.7)

(83.7)

Commodity price risk

Fuel and carbon operating expenses

(26.8)

(26.8)

Gross cashflow hedge reserve

(140.5)

(142.6)

(283.1)

*Deferred taxes included in Hedge reserve were €17m

** Balance remaining in the cashflow hedge reserve for which hedge accounting is no longer applied

Schedule of movement in derivative financial instruments designated as hedging instruments

At March 31, 2026

Change in

Hedge ineffectiveness

Reclassified from

fair value

recognized in

hedging reserve

recognized in OCI

profit or loss*

to profit or loss**

€M

€M

€M

Foreign currency risk

Property, plant and equipment - aircraft additions

13.4

Fuel and oil operating expenses

14.4

(130.4)

Commodity price risk

Fuel and carbon operating expenses

2,399.9

(167.3)

Total movement in derivative instruments

2,427.7

(297.7)

At March 31, 2025

Change in

Hedge ineffectiveness

Reclassified from

fair value

recognized in

hedging reserve

recognized in OCI

profit or loss*

to profit or loss**

€M

€M

€M

Foreign currency risk

Property, plant and equipment - aircraft additions

(149.8)

Fuel and oil operating expenses

(114.6)

110.9

Commodity price risk

Fuel and carbon operating expenses

(154.3)

(77.4)

Total movement in derivative instruments

(418.7)

33.5

At March 31, 2024

Change in

Hedge ineffectiveness

Reclassified from

fair value

recognized in

hedging reserve

recognized in OCI

profit or loss*

to profit or loss**

€M

€M

€M

Foreign currency risk

Property, plant and equipment - aircraft additions

(515.0)

Fuel and oil operating expenses

117.7

4.2

Interest rate risk

Variable-rate instruments

(3.6)

Commodity price risk

Fuel and carbon operating expenses

398.8

(71.8)

Total movement in derivative instruments

1.5

(71.2)

* Hedge ineffectiveness is classified within “Finance Expense” on the Consolidated Income Statement

** Reclassified from hedging reserve to income statement – Fuel & Oil Foreign Currency & Commodity are reclassified in Fuel and Oil; Variable rate instruments are reclassified to finance expense

Schedule of reclassified from other comprehensive income into the income statement

At March 31,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

 

€M

 

€M

 

€M

Commodity forward contracts

 

  ​

 

  ​

 

  ​

Reclassification adjustments for losses recognized in fuel and oil operating expenses

 

167.3

 

77.4

 

71.8

Interest rate swaps

 

 

 

Reclassification adjustments for losses recognized in finance expense

 

 

 

3.6

Foreign currency forward contracts

 

 

 

Reclassification adjustments for losses/(gains) recognized in fuel and oil operating expenses

 

130.4

 

(110.9)

 

(4.2)

 

297.7

 

(33.5)

 

71.2

Schedule of reclassified from other comprehensive income into the capitalized cost

At March 31,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

 

€M

 

€M

 

€M

Foreign currency forward contracts

 

  ​

 

  ​

 

  ​

Recognized in property plant and equipment – aircraft additions

 

(63.8)

 

(100.6)

 

(305.7)

 

(63.8)

 

(100.6)

 

(305.7)

Schedule of fair values and notional amounts derivative financial instruments

At March 31,

2026

2025

2024

Within

> 1 Year

Within

> 1 Year

Within

> 1 Year

1 Year 

(non—

1 Year 

(non—

1 Year 

(non—

(current)

current)

Total

(current)

current)

Total

(current)

current)

Total

  ​ ​

€M

  ​ ​

€M

  ​ ​

€M

  ​

  ​

€M

  ​ ​

€M

  ​ ​

€M

  ​

  ​

€M

  ​ ​

€M

  ​ ​

€M

Foreign currency risk notional amounts

 

  ​

 

  ​

 

  ​

 

 

  ​

 

  ​

 

  ​

 

 

  ​

 

  ​

 

  ​

for effective hedges

PP&E — aircraft additions

 

553.8

2,689.3

3,243.1

 

 

373.8

373.8

 

 

494.0

24.1

 

518.1

Fuel and oil operating expenses

 

3,541.9

1,038.9

4,580.8

 

 

3,925.5

1,141.2

5,066.7

 

 

3,701.7

423.7

 

4,125.4

— Within derivative financial assets

 

35.8

92.4

128.2

 

 

84.4

5.8

90.2

 

 

144.0

3.2

 

147.2

— Within derivative financial liabilities

 

(71.8)

(7.8)

(79.6)

 

 

(0.2)

(2.5)

(2.7)

 

 

(3.3)

 

(3.3)

 

(36.0)

84.6

48.6

 

 

84.2

 

3.3

 

87.5

 

 

144.0

 

(0.1)

 

143.9

Commodity price risk notional amounts for effective hedges

 

 

 

  ​

 

  ​

 

  ​

 

 

  ​

 

  ​

 

  ​

Fuel and carbon operating expenses

 

3,381.8

3,381.8

 

 

3,424.5

476.4

3,900.9

 

 

3,713.8

2.2

3,716.0

Total fair value for all commodity fuel & carbon related derivative instruments:

 

 

 

 

  ​

  ​

 

 

  ​

 

  ​

  ​

— Within derivative financial assets

 

2,098.1

2,098.1

 

 

10.0

9.6

19.6

 

 

205.5

0.1

205.6

— Within derivative financial liabilities

 

(70.5)

(70.5)

 

 

(224.5)

(224.5)

 

 

(178.0)

(0.8)

(178.8)

 

2,027.6

2,027.6

 

 

(214.5)

 

9.6

 

(204.9)

 

 

27.5

 

(0.7)

 

26.8

Fair values as reported in the consolidated balance sheet

 

 

 

  ​

 

  ​

 

  ​

 

 

  ​

 

  ​

 

  ​

Derivative financial assets

 

2,133.9

92.4

2,226.3

 

 

94.4

15.4

109.8

 

 

349.5

3.3

352.8

Derivative financial liabilities

 

(142.3)

(7.8)

(150.1)

 

 

(224.7)

(2.5)

(227.2)

 

 

(178.8)

(3.3)

(182.1)

Derivative financial assets analyzed between those:

 

 

 

  ​

 

  ​

 

  ​

 

 

  ​

 

  ​

 

  ​

— Designated as continuing cash flow hedges

 

2,133.9

92.4

2,226.3

 

 

94.4

15.4

109.8

 

 

322.6

3.3

325.9

— Where hedge accounting is no longer applied

 

 

 

 

 

26.9

26.9

— Designated as fair value financial instruments

 

2,133.9

92.4

2,226.3

 

 

94.4

 

15.4

 

109.8

 

 

349.5

 

3.3

 

352.8

Derivative financial liabilities analyzed between those:

 

 

 

  ​

 

  ​

 

  ​

 

 

  ​

 

  ​

 

  ​

— Designated as continuing cash flow hedges

 

(142.3)

(7.8)

(150.1)

 

 

(224.7)

(2.5)

(227.2)

 

 

(178.8)

(3.3)

(182.1)

— Where hedge accounting is no longer applied

 

 

 

 

 

— Designated as fair value financial instruments

 

 

 

 

 

 

(142.3)

(7.8)

(150.1)

 

 

(224.7)

 

(2.5)

 

(227.2)

 

 

(178.8)

 

(3.3)

 

(182.1)