NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022 42 FINANCIAL INSTRUMENTS (CONT’D) (ii) Liquidity risk (cont’d) Carrying amount Contractual cash flows Within 1 year After 1 year but within 5 years After 5 years $’000 $’000 $’000 $’000 $’000 Restated* Restated* Restated* Restated* Restated* Group 31 December 2021 Non-derivative financial liabilities Interest-bearing borrowings 11,139,993 (11,568,699) (5,398,360) (6,112,234) (58,105) Lease liabilities 265,327 (445,448) (26,330) (51,034) (368,084) Trade and other payables^ 1,401,212 (1,415,804) (1,415,804) – – Other liabilities^ 98,447 (98,447) – (76,881) (21,566) 12,904,979 (13,528,398) (6,840,494) (6,240,149) (447,755) Derivative financial instruments Derivative liabilities Cross-currency swaps (gross-settled): 14,936 – Outflow (400,259) (329,893) (70,366) – – Inflow 387,741 316,999 70,742 – Interest rate swaps (gross-settled): 941 – Outflow (7,001) (2,377) (4,624) – – Inflow 3,681 1,250 2,431 – 15,877 (15,838) (14,021) (1,817) Derivative assets Forward exchange contracts (gross-settled): (17,485) – Outflow (1,294,556) (1,294,556) – – – Inflow 1,308,617 1,308,617 – – Cross-currency swaps (gross-settled): (8,788) – Outflow (140,241) (42,176) (98,065) – – Inflow 149,917 46,884 103,033 – (26,273) 23,737 18,769 4,968 – (10,396) 7,899 4,748 3,151 – 12,894,583 (13,520,499) (6,835,746) (6,236,998) (447,755) ^ Excluding deferred income * Refer to Note 47 42 FINANCIAL INSTRUMENTS (CONT’D) (ii) Liquidity risk (cont’d) As at 31 December 2022 and 31 December 2021, the Group has provided financial guarantees in favour of an associate (note 8) and buyers of overseas development properties (note 38). The Company has provided financial guarantees for borrowings of a subsidiary amounting to $231 million (2021: $270 million) expiring on 31 March 2023. The Group has contractual commitments to incur capital expenditure on its property, plant and equipment and investment properties, purchase properties and to invest in joint ventures, associates and investees (see note 38). The following are the remaining contractual maturities of financial liabilities. The amounts are gross and undiscounted, and include contractual interest payments and exclude the impact of netting agreements: Carrying amount Contractual cash flows Within 1 year After 1 year but within 5 years After 5 years $’000 $’000 $’000 $’000 $’000 Group 31 December 2022 Non-derivative financial liabilities Interest-bearing borrowings 9,669,422 (10,383,102) (2,596,621) (7,670,809) (115,672) Lease liabilities 697,439 (1,233,686) (50,585) (164,189) (1,018,912) Trade and other payables^ 1,404,045 (1,431,063) (1,431,063) – – Other liabilities^ 88,269 (88,269) – (62,660) (25,609) 11,859,175 (13,136,120) (4,078,269) (7,897,658) (1,160,193) Derivative financial instruments Derivative liabilities Cross-currency swaps (gross-settled): 780 – Outflow (16,235) (16,235) – – – Inflow 15,423 15,423 – – Forward exchange contracts (gross-settled): 780 – Outflow (48,463) (48,463) – – – Inflow 47,512 47,512 – – Interest rate swaps (net-settled) 645 (853) 129 (982) – 2,205 (2,616) (1,634) (982) Derivative assets Cross-currency swaps (gross-settled): (43,696) – Outflow (501,351) (215,789) (285,562) – – Inflow 547,091 235,485 311,606 – Forward exchange contracts (gross-settled): (49,636) – Outflow (914,487) (914,487) – – – Inflow 960,816 960,816 – – Interest rate swaps (net-settled) (18,917) 20,443 8,298 12,145 – (112,249) 112,512 74,323 38,189 – (110,044) 109,896 72,689 37,207 – 11,749,131 (13,026,224) (4,005,580) (7,860,451) (1,160,193) ^ Excluding deferred income CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2022 FINANCIALS 224 225
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