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NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2021 (continued)
19 Financial Risk Management and Financial Instruments (continued)
The carrying amounts of financial liabilities presented in the Consolidated Statement of Financial Position relate to the following
measurement categories as defined in IFRS 9:
Financial
liabilities at
fair value
through P&L
2021
Current:
Borrowings
Lease liabilities
Trade payables
Accruals
Deferred contingent consideration
Non current:
Borrowings
Lease liabilities
Deferred contingent consideration
2020
Current:
Borrowings
Lease liabilities
Trade payables
Accruals
Derivative financial instruments
Non current:
Borrowings
Lease liabilities
Deferred contingent consideration
Financial
liabilities at
fair value
though OCI
Derivatives
designated
as hedging
instrument
Total
€m
Financial
liabilities
measured at
amortised
cost
€m
€m
€m
€m
8.6
8.6
77.4
35.0
726.8
519.5
1,358.7
33.1
33.1
-
77.4
35.0
726.8
519.5
41.7
1,400.4
15.5
15.5
1,320.1
123.0
1,443.1
145.1
145.1
-
1,320.1
123.0
160.6
1,603.7
33.1
33.1
55.6
27.3
419.9
349.8
852.6
120.9
120.9
0.2
0.2
209.6
27.3
419.9
349.8
0.2
1,006.8
10.3
10.3
1,376.1
87.5
1,463.6
117.3
117.3
-
1,376.1
87.5
127.6
1,591.2
Fair value hierarchy
Financial assets and liabilities recognised at fair value are analysed between those based on quoted prices in active markets for identical
assets or liabilities (Level 1), those involving inputs other than quoted prices that are observable for the assets or liabilities, either directly
or indirectly (Level 2); and those involving inputs for the assets or liabilities that are not based on observable market data (Level 3) as set
out in note 18.
Normally, the derivatives entered into by the Group are not traded in active markets. The fair values of these contracts are estimated
using a valuation technique that maximises the use of observable market inputs, e.g. market exchange and interest rates (Level 2). All
derivatives entered into by the Group are included in Level 2 and consist of foreign currency forward contracts, interest rate swaps and
cross currency interest rate swaps.
Kingspan Group plc Annual Report & Financial Statements 2021
Financial Statements
