2012 Integrated report - Sappi

Group balance sheets
at September 2012
US$ million note 2012 2011
Assets
Non-current assets 3,990 4,085
Property, plant and equipment 9 3,157 3,235
Plantations 10 555 580
Deferred tax assets 11 154 45
Goodwill and intangible assets 12 22 25
Joint ventures and associates 13 18 76
Other non-current assets 14 62 83
Derivative financial instruments 29.1 22 41
Current assets 2,178 2,223
Inventories 15 726 750
Trade and other receivables 16 807 831
Derivative financial instruments 29.1 – 3
Cash and cash equivalents 23.7 645 639
Total assets 6,168 6,308
Equity and liabilities
Shareholders’ equity 1,525 1,478
Ordinary share capital and share premium 17 1,391 1,425
Non-distributable reserves 19 171 163
Foreign currency translation reserve (323) (304)
Hedging reserves (39) 5
Retained earnings 325 189
Non-current liabilities 3,328 3,178
Interest-bearing borrowings 20 2,358 2,289
Deferred tax liabilities 11 319 336
Derivative financial instruments 29.1 46 –
Other non-current liabilities 21 605 553
Current liabilities 1,315 1,652
Interest-bearing borrowings 20 261 449
Overdraft 5 1
Derivative financial instruments 29.1 1 10
Trade and other payables 1,005 1,065
Taxation payable 26 20
Provisions 22 17 107
Total equity and liabilities 6,168 6,308
sappi Integrated Report 2012 105