IGO Interactive Annual Report 2018

Notes to the consolidated financial statements 30 June 2018 (continued) 21 Financial risk management (continued) (c) Liquidity risk (continued) Maturities of financial liabilities (continued) Contractual maturities of financial liabilities Less than 6 months 6 - 12 months Between 1 and 5 years Total contractual cash flows Carrying amount $'000 $'000 $'000 $'000 $'000 At 30 June 2018 Trade and other payables 56,586 - - 56,586 56,586 Bank loans* 29,652 31,544 88,163 149,359 140,815 86,238 31,544 88,163 205,945 197,401 At 30 June 2017 Trade and other payables 49,052 - - 49,052 49,052 Bank loans* 30,234 33,283 149,821 213,338 197,041 79,286 33,283 149,821 262,390 246,093 * Includes estimated interest payments. There were no derivative financial instruments outstanding at 30 June 2018. The following table details the Group’s liquidity analysis for its derivative financial instruments for 30 June 2017, based on the undiscounted net cash inflows/(outflows) on the derivative instrument that settles on a net basis. When the net amount payable is not fixed, the amount disclosed has been determined by reference to the projected forward curves existing at the reporting date. Less than 6 months 6 - 12 months Between 1 and 5 years Total contractual cash flows Carrying amount $'000 $'000 $'000 $'000 $'000 At 30 June 2017 Commodity hedging contracts 399 566 251 1,216 1,216 399 566 251 1,216 1,216 (d) Recognised fair value measurements (i) Fair value hierarchy The fair value of financial assets and liabilities must be estimated for recognition and measurement or for disclosure purposes. AASB 13 Fair Value Measurement requires disclosure of fair value measurements by level of the following fair value measurement hierarchy: (a) quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1); (b) inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices) (level 2); and (c) inputs for the asset or liability that are not based on observable market data (unobservable inputs) (level 3). The following table presents the Group’s assets and liabilities measured and recognised at fair value at 30 June 2018 and 30 June 2017 on a recurring basis. Independence Group NL 44 108 — IGO ANNUAL REPORT 2018 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 30 JUNE 2018