32. Other Financial Liabilities

 

PLN ‘000 Dec 31 2009 Dec 31 2008
    (comparable data)
Negative valuation of financial derivatives: 236,371 218,526
- commodity swaps (raw materials and petroleum products) - 7,910
- futures (CO2 emissions) 675 1
- currency forward and spot contracts 12,798 28,329
- currency options - 5,020
- forward rate agreements (FRAs) - 1,733
- interest rate swap (IRS) 219,720 175,533
- currency swaps 3,178 -
Lease liabilities 83,149 1,415
Total financial liabilities 319,520 219,941
Non-current liabilities 300,389 176,387
Current liabilities 19,131 43,554

As at December 31st 2009, negative valuation of financial instruments related to mandatory hedging agreements over which an assignment was created as security for the credit facility referred to in Note 30 amounted to PLN 159,689 thousand (December 31st 2008: PLN 131,143 thousand).

Finance lease liabilities

PLN ‘000 Minimum lease payments Present value of minimum lease payments
Dec 31 2009 Dec 31 2008 Dec 31 2009 Dec 31 2008
Up to 1 year 24,700 756 2,845 561
1 year to 5 years 114,101 926 23,822 854
Over 5 years 74,222 - 56,482 -
Total 213,023 1,682 83,149 1,415
         
Less future financial charges (129,874) (267) - -
         
Present value of  minimum lease payments 83,149 1,415 83,149 1,415
         
Non-current portion     80,304 854
Current portion     2,845 561

This is a translation of a document originally issued in Polish

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