content_image/281465.jpg content_image/281464.jpg
## (h) Fair values versus carrying amounts 

The fair value of financial assets and liabilities, together with the carrying amounts shown in the statement of financial position, are as follows: 

<img src='content_image/281465.jpg'>

The basis for determining fair values is disclosed in note 4. 

The interest rates used to discount estimated cash flows, for the unsecured senior notes, are based on the government yield curve at the reporting date plus an adequate credit. 

## Fair value hierarchy 

The table below summarizes financial instruments carried at fair value, by valuation method. 

The different levels have been defined as follows: 

GLYPH<129> Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities 

GLYPH<129> Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices) 

GLYPH<129> Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs) 

<img src='content_image/281464.jpg'>

