2009-10 Annual Report - Australia Post

notes to And ForminG PArt oF the FinAnCiAl rePort For the year ended 30 June 2010
17 Other non-current assets
interest rate swap contracts
prepayments
74
AustrAliA Post AnnuAl rePort 2009–10 | Financial and statutory reports
2010
$m
consolidated corporation
total other non-current assets 10.7 13.5 10.6 13.4
18 Current liabilities – trade and other payables
trade creditors (1)
other:
agency creditors (1)
salaries and wages
Borrowing costs (2)
unearned postage revenue
other advance receipts
deferred government grant income
payables to controlled and jointly controlled entities (refer note 28)
Goods and services tax payable
Financial guarantees (3)
Forward exchange contracts
other payables
482.3 499.4 480.8 490.2
total current payables 726.7 798.9 703.0 773.1
(1) trade creditors and agency creditors are non-interest bearing and normally settled on 30-day and next business day terms respectively. included within trade creditors are
international creditors which are settled in accordance with universal postal union (upu) arrangements, which may be longer than 30 days.
(2) Borrowing costs are normally settled on a half-yearly basis throughout the financial year.
(3) as described in note 1(gg), the group has provided financial guarantees to third parties, which commit the group to make payments on behalf of these parties upon their failure
to perform under the terms of the relevant contracts. the account estimates and/or assumptions used in determining the fair value of the guarantees has been disclosed in
note 1(gg). the maximum credit risk associated with these contracts is $64.3 million (2009: $66.1 million) and is included within the disclosures of note 29(i).
19 Interest-bearing liabilities
Current
Bank overdraft and other loans
oil commodity swaps – within one year
Finance lease and hire purchase liabilities payable – within one year
total current interest-bearing liabilities 0.6 0.9 0.5 –
non-current
Fixed-rate unsecured bonds payable – in one to five years
interest rate swaps – in one to five years
total non-current interest-bearing liabilities 558.4 560.6 558.4 560.6
$555 million bonds
these bonds are unsecured and repayable in full, with $230 million maturing on 23 March 2012 and the remaining $325 million due on 25 March 2014.
5.5
5.2
244.4
145.1
53.9
8.1
68.0
91.5
4.9
8.7
20.7
0.0
–
81.4
–
0.5
0.1
547.0
11.4
2009
$m
9.7
3.8
299.5
168.9
49.0
5.6
59.4
84.4
8.0
17.9
20.1
0.1
1.2
84.8
0.6
–
0.3
541.7
18.9
2010
$m
5.5
5.1
222.2
145.1
52.8
8.1
67.7
88.3
4.9
14.9
20.7
0.0
–
78.3
–
0.5
–
547.0
11.4
2009
$m
9.7
3.7
282.9
168.9
47.1
5.6
59.4
80.4
8.0
20.5
20.1
0.1
1.2
78.9
–
–
–
541.7
18.9