Lots of bets on future prices of stuff to minimise exposure to market changes, plus, laying off a few side bets to cover their arses on those bets, gambling on the future prices of fuel, currency exchange and interest rates. Bets split into ones they're winning and losing, these bets all have time frames, future winnings or losses, classed as an asset but the bets ain't over. 31st December 2015 not looking good, up 2.8B on some, down 21.9B on others.
Ain't bull****n what they reckon their bets worth right now, won't count their shekels till it's over though. Deferred equity means they'll promise something worth something till then, see how they're travelling. Running so many bets they got a computer, but takes ages to work out and wouldn't bet their lives on the numbers. Last bits an excuse, dunno what's going on, guessin the score, ain't their fault they're losers. Covers the Swire 2015/16 paragraphs, last bit CPA 2017 is a change in HK accounting practices, hypothetical anyways refers to dividends. Bull**** mostly ain't complicated, terms so you won't ask what you've asked, that ain't thick; gotta work out what business they're in.
Last edited by Strewth; 22nd Aug 2017 at 03:14.