2012 Integrated report - Sappi

Notes to the group annual financial statements
for the year ended September 2012
3. Segment information continued
Reconciliation of segment assets to total assets:
US$ million
Group
2012 2011 2010
Segment assets (1) 4,320 4,422 4,996
Deferred tax assets 154 45 53
Cash and cash equivalents 645 639 792
Derivative financial instruments 1 10 3
Trade and other payables 1,005 1,065 1,271
Provisions 17 107 33
Taxation payable 26 20 36
Total assets 6,168 6,308 7,184
(1) Refer to the glossary on page 183 for the definition of the term.
US$ million
Cost of
sales
2012 2011 2010
Selling,
general
and
administrative
expenses
Cost of
sales
Selling,
general
and
administrative
expenses
Cost of
sales
Selling,
general
and
administrative
expenses
4. Operating profit
Operating profit has been arrived
at after charging (crediting):
Raw materials, energy and other direct
input costs 3,393 – 3,962 – 3,461 –
Wood (includes growth and
felling adjustments (1) ) 723 – 773 – 624 –
Energy 565 – 670 – 611 –
Chemicals 1,028 – 1,117 – 1,025 –
Pulp 753 – 987 – 907 –
Other variable costs 324 – 415 – 294 –
Plantation price fair value adjustment 15 – 16 – (31) –
Employment costs 898 200 1,027 211 968 208
Depreciation 345 22 392 22 388 23
Delivery charges 526 – 597 – 547 –
Maintenance 253 – 300 – 275 –
Other overheads 122 – 160 – 178 –
Marketing and selling expenses – 102 – 112 – 112
Administrative and general expenses – 93 – 109 – 105
5,552 417 6,454 454 5,786 448
US$ million 2012 2011 2010
(1) Changes in plantation volumes
Fellings 73 82 71
Growth (83) (81) (67)
120