annual report - Harvey Norman Company Reports & Announcements

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 27. Cash and Cash Equivalents C O N S O L I D A T E D 2012 2011 $000 $000 (a) Reconciliation to the Statement of Cash Flows Cash and cash equivalents comprise the following at end of the year: Cash at bank and on hand 141,159 114,353 Short term money market deposits 31,300 48,426 172,459 162,779 Bank overdraft (32,366) (44,050) Cash and cash equivalents at end of year 140,093 118,729 (b) Reconciliation of Profit After Income Tax to Net Operating Cash Flows: Profit after tax 176,315 259,620 Adjustments for: Net foreign exchange gain (1,318) (2,258) Bad and doubtful debts 1,438 1,999 Provision for inventory obsolescence (1,901) (336) Share of joint ventures (13,742) (17,888) Depreciation of property, plant and equipment 78,241 81,594 Amortisation 9,821 7,773 Impairment of fixed assets 3,004 2,071 Revaluation of investment properties and properties held under joint ventures 27,768 (15,455) Reversal of a previous property revaluation decrement (2,775) - Net profit on property development (10,000) - Deferred lease expenses (477) 353 Provision for onerous leases 2,912 860 Other provisions 104 107 Discount on interest-free long term receivables 83 150 Accretion of interest-free long term receivables (152) (216) Executive remuneration including shares and options expense 1,789 2,669 Realised / unrealised gain on interest rate swap - (230) Accrued income items (5,511) (3,150) Transfers to provisions: - Employee entitlements (5,672) 5,494 - Doubtful debts 1,324 (2,533) Profit on disposal and revaluation of: - Property, plant and equipment, and listed securities 3,625 (9,726) Changes in assets and liabilities net of effects from purchase and sale of controlled entities: (Increase)/decrease in assets: Receivables 47,331 36,299 Inventory 75,222 (74,732) Other current assets 879 (127) Deferred tax assets (5,026) 7 Increase/(decrease) in liabilities: Payables and other current liabilities (188,458) 120,302 Income tax payable 6,121 (33,674) Net cash from operating activities 200,945 358,973 101
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 28. Employee Benefits 102 The consolidated entity makes contributions to complying superannuation funds for the purpose of provision of superannuation benefits for eligible employees of the consolidated entity. The amount of contribution in respect of each eligible employee is not less than the prescribed minimum level of superannuation support in respect of that eligible employee. The complying superannuation funds are independent and not administered by the consolidated entity. Share Options Harvey Norman Holdings Limited At balance date, the following options over unissued ordinary shares were outstanding and vested (or able to be exercised) by, or for the benefit of, directors of Harvey Norman Holdings Limited: Grant Date 26/11/2007 29/11/2010 29/11/2011 Expiry Date Exercise Price Number of Options Outstanding Number of Options Vested 25/11/2012 30/06/2016 30/06/2017 $6.77 $3.02 $2.03 2012 2011 2012 2011 - 2,034,000 3,000,000 5,034,000 Refer to Note 30 Key Management Personnel for further information. 29. Remuneration of Auditors - 3,000,000 - 3,000,000 Amounts received or due and receivable by Ernst & Young for: - an audit or review of the financial report of the entity and any other entity in the consolidated entity - tax services in relation to the entity and any other entity in the consolidated entity - other services in relation to the entity and any other entity in the consolidated entity Total received by Ernst & Young - - - - C O N S O L I D A T E D 2012 2011 1,434,377 245,057 45,135 1,724,569 C O N S O L I D A T E D 2012 2011 number number The number of full-time equivalent employees employed as at 30 June are: 4,937 5,579 2012 2011 $000 $000 The aggregate employee benefit liability is comprised of: Accrued wages, salaries and on-costs 8,087 10,021 Provisions (current – Note 18) 15,843 20,450 Provisions (non-current – Note 18) 1,278 2,343 Total employee benefit provisions 25,208 32,814 $ $ 1,563,265 479,655 23,491 2,066,411 - - - -
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2012 ANNUAL REPORT HOLDINGS LIMITED
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2 Contents Company Information 1 Co
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CHAIRMAN‟S REPORT Business Perfor
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CHAIRMAN‟S REPORT (CONTINUED) Our
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CHAIRMAN‟S REPORT (CONTINUED) Bre
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CHAIRMAN‟S REPORT (CONTINUED) Sal
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CHAIRMAN‟S REPORT (CONTINUED) Slo
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DIRECTOR‟S REPORT Your directors
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DIRECTOR‟S REPORT (CONTINUED) Com
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DIRECTOR‟S REPORT (CONTINUED) Div
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DIRECTOR‟S REPORT (CONTINUED) Rem
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DIRECTORS‟ REPORT (CONTINUED) Rem
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DIRECTORS‟ REPORT (CONTINUED) Rem
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DIRECTORS‟ REPORT (CONTINUED) Aud
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CORPORATE GOVERNANCE STATEMENT (CON
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STATEMENT OF FINANCIAL POSITION AS
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STATEMENT OF COMPREHENSIVE INCOME F
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STATEMENT OF CHANGES IN EQUITY FOR
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STATEMENT OF CASH FLOWS FOR THE YEA
Page 51 and 52: OPERATING SEGMENTS (CONTINUED) Oper
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Page 57 and 58: STATEMENT OF SIGNIFICANT ACCOUNTING
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Page 77 and 78: NOTES TO THE FINANCIAL STATEMENTS (
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Page 143 and 144: DIRECTORY OF HARVEY NORMAN, DOMAYNE
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