REC Silicon Annual Report 2019

62 Notes to the consolidated financial statements, REC Silicon Group REC Silicon Annual Report 2019 The following are the contractual maturities of financial liabilities and assets at December 31, 2019 MATURITY ANALYSIS - CONTRACTUAL PAYMENTSTO BE MADE / RECEIVED AND CASH EQUIVALENTS ATDECEMBER 31, 2019 (USD INMILLION) CARRYING AMOUNT UNDETER- MINED 0-6MONTHS 6-12 MONTHS 1-2 YEARS 2-3 YEARS LATERTHAN 3 YEARS TOTAL Assets Inventories 47.7 0.0 40.9 2.5 3.0 1.3 0.0 47.7 Trade and other receivables 30.5 0.0 26.5 4.0 0.0 0.0 0.0 30.5 Current tax assets 1.3 0.0 1.3 0.0 0.0 0.0 0.0 1.3 Restricted bank accounts 4.4 3.6 0.0 0.0 0.6 0.0 0.2 4.4 Cash and cash equivalents 29.4 0.0 29.4 0.0 0.0 0.0 0.0 29.4 Total 113.4 3.6 98.2 6.5 3.6 1.3 0.2 113.4 Financial liabilities, tax and retirement benefit obligations Retirement benefit obligations 19.5 0.0 0.6 0.8 1.8 1.8 14.5 19.5 USD Senior Secured Bond 110.0 0.0 0.0 0.0 0.0 0.0 110.0 110.0 Trade payables and other liabilities 55.5 25.9 23.9 2.7 0.2 -0.4 3.1 55.5 Accrued finance cost 7.7 4.9 2.7 0.0 0.0 0.0 0.0 7.7 Current tax liabilities 24.3 24.3 0.0 0.0 0.0 0.0 0.0 24.3 Derivatives 1.4 1.4 0.0 0.0 0.0 0.0 0.0 1.4 Indemnification loan 22.8 22.8 0.0 0.0 0.0 0.0 0.0 22.8 Lease Liabilities 48.6 0.0 6.3 6.3 8.6 7.8 19.7 48.6 Total 289.8 79.5 33.6 9.7 10.6 9.2 147.2 289.8 Net -176.5 -75.8 64.6 -3.3 -7.0 -7.9 -147.1 -176.5 In the table above, obligations with an undetermined maturity include obligations for which the timing of payments is not contractually specified or are currently callable under certain conditions and have not been called. For further information regarding lease liabilities see note 7. The following are the contractual maturities of borrowing: MATURITY ANALYSIS - CONTRACTUAL PAYMENTSTO BE MADE ATDECEMBER 31, 2019 (USD INMILLION) CARRYING AMOUNT TOTAL APR 2020 OCT2020 2021 2022 2023 2023 Capitalized Borrowing Cost -1.4 USD Senior Secured Bond 110.0 154.3 6.3 6.3 12.7 12.7 116.3 116.3 Indemnification Loan (NOK) 22.8 22.8 Total 131.4 177.1 6.3 6.3 12.7 12.7 116.3 116.3 MATURITY ANALYSIS - CONTRACTUAL PAYMENTSTO BE MADE ATDECEMBER 31, 2018 (USD INMILLION) CARRYING AMOUNT TOTAL APR 2019 OCT2019 2020 2021 2022 2023 Capitalized Borrowing Cost -1.7 USD Senior Secured Bond 110.0 166.9 6.3 6.3 12.7 12.7 12.7 116.3 Indemnification Loan (NOK) 23.0 23.0 Total 131.4 189.9 6.3 6.3 12.7 12.7 12.7 116.3 The differences between carrying amounts and total expected payments in the tables above are due primarily to discounting. Interest payments are estimated using the interest rates at December 31, 2019and2018. All cashflows are undiscounted. Amounts in other currencies thanUSD are translated at the exchange rates at December 31, 2019and2018, respectively.