Financial Report 2009 - Leighton Holdings

LEIGHTON HOLDINGS LIMITED
FINANCIAL REPORT 2009
ABN 57 004 482 982
This publication includes Leighton Holdings Limited’s
Financial Report, Directors’ Declaration and Independent
Auditor’s Report for the financial year ended 30 June
2009.
It should be read in conjunction with the Leighton Holdings
Limited Concise Annual Report 2009 which provides an
overview of the key activities for the year ended 30 June
2009. The Concise Annual Report includes the message
from the Chairman, Chief Executive’s report, Board of
Director’s resumes, Director’s Report, Auditor Independence
Declaration, sections on corporate governance, health and
safety, corporate social responsibility, information for
investors and Australian Securities Exchange information.
The full annual report of Leighton Holdings Limited for the
year ended 30 June 2009 comprises the Financial Report and
the Concise Annual Report, in accordance with the
Corporations Act 2001.
The Concise Annual Report 2009 and the Financial Report
2009 can be found at the Leighton Holdings website:
www.leighton.com.au
Annual General Meeting
Leighton Holdings Limited’s 2009 Annual General Meeting will
be held in Sydney at The Four Seasons Hotel, 199 George
Street, Sydney on 5 November 2009, commencing 10.00am.
Income Statements ...................................................... 2
Statements of Recognised Income and Expense ........ 3
Balance Sheets ............................................................ 4
Statements of Cash Flows ........................................... 5
Notes to the Financial Statements .......................... 6-74
1. Summary of significant accounting policies .............................................. 6
2. Revenue ................................................................................................. 12
3. Expenses................................................................................................ 13
4. Finance Costs......................................................................................... 14
5. Auditor’s remuneration............................................................................ 15
6. Income tax expense................................................................................ 16
7. Cash and cash equivalents..................................................................... 17
8. Trade and other receivables ................................................................... 17
9. Current tax assets .................................................................................. 18
10. Inventories.............................................................................................. 18
11. Investments accounted for using the equity method ............................... 18
12. Other investments .................................................................................. 19
13. Deferred taxes........................................................................................ 19
14. Property, plant and equipment................................................................ 20
15. Goodwill.................................................................................................. 21
16. Trade and other payables....................................................................... 22
17. Current tax liabilities ............................................................................... 22
18. Provisions............................................................................................... 23
19. Interest bearing liabilities ........................................................................ 24
20. Equity ..................................................................................................... 25
21. Reserves ................................................................................................ 26
22. Retained earnings .................................................................................. 27
23. Dividends................................................................................................ 28
24. Earnings per share ................................................................................. 29
25. Associates .............................................................................................. 30
26. Joint venture entities............................................................................... 32
27. Reconciliation of property, plant and equipment carrying values............. 35
28. Reconciliation of profit for the year to net cash from operating activities. 36
29. Acquisitions and disposals of controlled entities ..................................... 37
30. Segment information............................................................................... 39
31. Commitments ......................................................................................... 43
32. Contingent liabilities................................................................................ 45
33. Capital risk management ........................................................................ 46
34. Financial instruments.............................................................................. 46
35. Employee benefits .................................................................................. 53
36. Related party disclosures ....................................................................... 57
37. Leighton Holdings Limited and controlled entities ................................... 64
38. New accounting standards ..................................................................... 72
39. Events subsequent to balance date........................................................ 74
Directors’ Declaration .................................................75
Independent Auditor’s Report to the Members of
Leighton Holdings Limited ..........................................76