National Express Annual Reports and Accounts 2011

Annual Report and Accounts 2011

Note 28

Borrowings and derivative financial liabilities

2011
£m
2010
£m
Non-current
Bank loans 5.5 3.6
Bonds 583.4 565.6
Finance lease obligations 129.2 103.8
Other debt payable 0.3 1.4
Non-current borrowings 718.4 674.4
Fuel derivatives 2.4
Interest rate derivatives 5.1
Non-current derivative financial instruments 2.4 5.1
Non-current borrowing and derivative financial liabilities 720.8 679.5
Current
Bank loans 2.4 36.2
Bonds – accrued interest 29.9 30.4
Finance lease obligations 22.1 27.8
Other debt payable 0.4 0.4
Current borrowings 54.8 94.8
Fuel derivatives 2.0
Foreign exchange derivatives 0.2 10.4
Current derivative financial instruments 0.2 12.4
Current borrowings and derivative financial liabilities 55.0 107.2

An analysis of interest-bearing loans and borrowings is provided in note 29. Further information on derivative financial instruments is provided in note 31.

Accrued interest of £30.4m was presented in other payables in the 2010 financial accounts. In 2011, this has been included within bonds – accrued interest.