SYDNEY PORTS CORPORATION ANNUAL REPORT 12

More documents

Recommendations

Info

60 Sydney PortS CorPoration noteS to the FinanCiaL StateMentS note 5. inCome taX eQUivalent eXPenSe (ContinUed) Sydney PortS CorPoration finanCial rePort 2011/12 Statement of finanCial PoSition Profit or loSS (d) Recognised deferred tax assets and liabilities Deferred income tax equivalent at 30 June relates to the following: CorPoration (i) Deferred income tax equivalent liabilities Depreciation (221,797) (204,035) 2,870 6,414 Income receivable (2,940) (824) 2,116 143 Other (1,376) (1,356) 20 917 Gross deferred income tax equivalent liabilities (ii) Deferred income tax equivalent assets (226,113) (206,215) Provisions for employee entitlements 4,230 3,889 (341) (187) Financial instruments 3,121 3,669 – – Accrued expenditure 1,939 4,934 2,995 (101) Defined benefits superannuation 13,589 4,275 245 235 Other 495 30 (465) 14 Gross deferred income tax equivalent assets 23,374 16,797 Deferred income tax equivalent charge ConSolidated at 30 JUne 2011 (iii) Deferred income tax equivalent liabilities 7,440 7,435 Depreciation (204,035) 6,414 Income receivable (824) 148 Other (1,356) 917 Gross deferred income tax equivalent liabilities (iv) Deferred income tax equivalent assets (206,215) Provisions for employee entitlements 3,889 (183) Financial instruments 3,669 – Accrued expenditure 4,934 (134) Defined benefits superannuation 4,275 235 Other 30 17 Gross deferred income tax equivalent assets 16,797 Deferred income tax equivalent charge 7,414 2012 $000 The Corporation has Australian capital tax losses of nil (2011: $0.337 million). Tax consolidation Sydney Ports Corporation and its subsidiary, Sydney Pilot Service Pty Ltd was a tax consolidated group until 30 June 2011. The head company of the tax consolidated group was Sydney Ports Corporation. The operations of Sydney Pilot Service Pty Ltd were discontinued on 31 August 2010 and the company was deregistered on 30 June 2011. Sydney Pilot Service Pty Ltd ceased to be a member of the tax consolidated group at 30 June 2011. 2011 $000 2012 $000 2011 $000
note 6. CaSh and CaSh eQUivalentS CorPoration CorPoration Cash at bank and in hand 9,197 5,160 TCorp Hour-Glass Cash Facility Trust 83,632 151,698 Cash and cash equivalents at 30 June 92,829 156,858 (a) Reconciliation to the statement of cash flows For the purpose of the statement of cash flows, cash and cash equivalents include cash at bank and in hand and funds on deposit in the TCorp Hour-Glass Cash Facility Trust. Cash and cash equivalents at 30 June 2012 and 2011, as shown in the statement of cash flows, are reconciled to these items in the statement of financial position. (b) TCorp Hour-Glass Cash Facility Trust The Corporation has placed funds on deposit in the TCorp Hour-Glass Cash Facility Trust. These funds are represented by a number of units in the managed facility. TCorp appoints and monitors fund managers and establishes and monitors the application of appropriate investment guidelines. These funds are generally able to be redeemed with up to 24 hours prior notice. The value of the funds on deposit represents the share of the value of the underlying assets of the facility and is stated at fair value. The value of the funds held can increase or decrease depending on market conditions and is marked to market through the statement of comprehensive income. (c) Reconciliation from the net profit after income tax equivalent expense to the net cash flows from operating activities: CorPoration ConSolidated CorPoration 2012 2011 2011 $000 $000 $000 Net profit after income tax equivalent expense Adjustments for: 52,445 73,488 74,300 Depreciation 29,025 22,668 22,621 Amortisation of intangible assets 2,019 1,223 1,223 Amortisation of prepaid licence fee 1,218 44 44 Amortisation of discount on interest-bearing loans and borrowings 695 676 676 Dividend from subsidiary – – (865) Net (gain)/loss on sale of interest-bearing loans and borrowings – 128 128 Net revaluation decrements – property, plant and equipment 66 263 263 Net (gain)/loss on sale of property, plant and equipment 6 (21) (21) Impairment loss on asset held for sale 1,497 – – Transfer from cash-flow hedge reserve 1,777 61 61 Property, plant and equipment written off 161 96 96 Changes in assets and liabilities applicable to operating activities 88,909 98,626 98,526 (Increase)/decrease in trade and other receivables (20,090) (460) 269 (Increase)/decrease in deferred tax equivalent assets 2,433 (124) (98) (Decrease)/increase in deferred tax equivalent liabilities 5,006 7,538 7,536 (Decrease)/increase in income tax equivalent payable 3,078 (2,267) (2,468) (Decrease)/increase in trade and other payables 17,026 1,978 1,790 (Decrease)/increase in provisions (2,310) (92) (79) (Decrease)/increase in other liabilities (814) (782) (783) Net cash flows from operating activities 93,238 104,417 104,693 2012 $000 2011 $000 Sydney PortS CorPoration finanCial rePort 2011/12 61
Page 1 and 2:
18 17 16 15 14 13 SYDNEY PORTS CORP
Page 3 and 4:
TABLE OF CONTENTS HIGHLIGHTS 2 OvER
Page 5 and 6:
OvErvIEw SYDNEY PORTS mANAgES ThE C
Page 7 and 8:
TrADE HIGHLIGHTS totaL Container tr
Page 9 and 10:
imPort CommoditieS 2011/12 (teUs) f
Page 11 and 12: CHIEF EXECUTIvE OFFICEr’S rEPOrT
Page 13 and 14: Mr Yassine holds other non-executiv
Page 15 and 16: exeCutive generAl mAnAger, mArine s
Page 17 and 18: CUSTOMEr SErvICE CHArTEr FOllOwINg
Page 19 and 20: MArINE SErvICES mARINE SERvICES mAI
Page 21 and 22: SECUrITY wITh ITS AROuND-ThE-ClOCk
Page 23 and 24: POrT BOTANY LANDSIDE IMPrOvEMENT ST
Page 25 and 26: N 0 200 400 Metres 600 800 Mill Str
Page 27 and 28: INTErMODAL LOGISTICS CENTrE AT ENFI
Page 29 and 30: CrUISE IN DECEmBER 2011, SYDNEY wAS
Page 31 and 32: SUSTAINABILITY SYDNEY PORTS’ mAIN
Page 33 and 34: MAPS PORT BOTANY PORT FACILITIES AN
Page 35 and 36: Sydney HarboUr PreCinCtS and tenant
Page 37 and 38: CookS river raiL yardS A B maritime
Page 39 and 40: Port of eden Boydtown East Boyd Tow
Page 41: metroPoLitan road and raiL LinkS 50
Page 44 and 45: 42 BeGinninG oF audited FinanCiaL S
Page 46 and 47: 44 Sydney PortS CorPoration StateMe
Page 48 and 49: 46 Sydney PortS CorPoration noteS t
Page 88 and 89: Sydney PortS CorPoration indePenden
Page 90 and 91: 88 Sydney PortS CorPoration StateMe
Page 92 and 93: 90 Sydney PortS CorPoration Statuto
Page 102 and 103: 100 Sydney PortS CorPoration Statut
Page 104 and 105: 102 Sydney PortS CorPoration Statut
Page 106 and 107: 104 Sydney PortS CorPoration iNDeX
Page 108: Corporate office and address L4, 20
show all

SYDNEY PORTS CORPORATION ANNUAL REPORT 12

Create successful ePaper yourself

Delete template?

Save as template?