Mondi Limited

Notes to the financial statements and
consolidated financial statements
continued
for the year ended 31 December 2010
2 Operating segments (continued)
Operating profit before special items
R million 2010 2009
South Africa Division 545 395
Mondi Packaging South Africa 484 406
Corporate & other businesses (15) (69)
Segments total 1,014 732
Special items (see note 4) (104) (171)
Net income from associates (see note 13) 3 –
Net finance costs (see note 5) (334) (483)
Group profit before tax 579 78
Significant components of operating profit before special items
Depreciation and amortisation Operating lease charges
R million 2010 2009 2010 2009
South Africa Division 506 506 49 54
Mondi Packaging South Africa 319 307 91 80
Corporate & other businesses 17 32 15 14
Group and segments total 842 845 155 148
Operating segment assets
2010 2009
Segment Net segment Segment Net segment
R million assets 1 assets assets 1 assets
South Africa Division 9,671 8,448 10,115 8,951
Mondi Packaging South Africa 4,485 3,482 4,492 3,454
Corporate & other businesses 454 292 418 287
Inter-segment elimination (223) – (286) –
Segments total 14,387 12,222 14,739 12,692
Unallocated:
Investments in associates 56 56 30 30
Deferred tax assets/(liabilities) 37 (1,678) 71 (1,639)
Other non-operating assets/(liabilities) 2 286 (238) 568 (73)
Group trading capital employed 14,766 10,362 15,408 11,010
Financial asset investments 137 137 94 94
Net debt 216 (3,166) 422 (3,866)
Group assets 15,119 7,333 15,924 7,238
Notes:
1 Segment assets are operating assets and as at 31 December 2010 consist of property, plant and equipment of R7,697 million (2009: R8,119 million), intangible assets
of R649 million (2009: R689 million), forestry assets of R2,838 million (2009: R2,675 million), retirement benefits surplus of R81 million (2009: R83 million), inventories of
R1,133 million (2009: R1,209 million) and operating receivables of R1,989 million (2009: R1,964 million).
2 Other non-operating assets consist of derivative assets of R19 million (2009: R7 million), other non-operating receivables of R255 million (2009: R189 million) and assets
held for sale of R12 million (2009: R372 million). Other non-operating liabilities consist of derivative liabilities of R36 million (2009: R22 million), non-operating provisions
of R138 million (2009: R111 million), current income tax liabilities of R12 million (2009: R28 million), other non-operating liabilities of R338 million (2009: R387 million)
and liabilities directly associated with assets classified as held for sale of Rnil (2009: R93 million).
34 Annual report and accounts 2010