Brambles 2006 Annual Report - Alle jaarverslagen

More documents

Recommendations

Info

156 Brambles 2006 Annual Report NOTES TO AND FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS continued for the year ended 30 June 2006 Note 39. Explanation of the impact of transition from AGAAP to IFRS continued As a result of applying AASB 119 to retirement benefit obligations, employee benefit expense for the year to 30 June 2005 was A$6.0 million higher than under AGAAP, after a related tax credit of A$2.0 million. Note 18 to the consolidated financial report for the half-year ended 31 December 2005 reported an actuarial loss of A$83.0 million within the consolidated statement of recognised income and expense for the year ended 30 June 2005. This amount was based on fund membership data and actuarial information available at the time of preparing the 2005 Annual Report and Annual Review. Better quality fund membership data and revised actuarial estimates as at 30 June 2005 were received in April 2006 and have been reflected in the 2005 financial results now presented. f) Share-based payments Under AASB 2: Share-based Payments, Brambles has recognised the fair value of options and performance shares granted to employees since 7 November 2002 as an expense in the income statement on a pro-rata basis over the vesting period, with a corresponding adjustment to equity for equity settled awards and to provisions for cash settled (phantom) awards. Brambles had not previously expensed share-based payments under AGAAP. Based on actuarial calculations, a reduction in retained earnings of A$16.6 million was recognised at 1 July 2004 on transition to IFRS, with a corresponding increase in reserves of A$14.0 million and in provisions of A$2.6 million. As a result of applying AASB 2 to share-based payments, employee benefit expense for the year to 30 June 2005 was A$17.9 million higher than under AGAAP, with a corresponding increase in reserves of A$15.7 million and provisions of A$2.2 million. g) Foreign currency translation reserve In its transition to IFRS, Brambles has chosen not to make use of the exemption set out in AASB 1 that permits cumulative translation differences that existed at the date of transition to IFRS to be transferred to retained earnings and the foreign currency translation reserve at 1 July 2004 deemed to be zero. Instead, the foreign currency translation reserve has been re-calculated in US dollars from the date of establishment of the DLC. The foreign currency translation reserve under AGAAP in Australian dollars has been adjusted for IFRS impacts. The impact of changing presentational currency to US dollars has been reflected in the foreign currency translation reserve. Brambles has hedged a loan forming part of its investment in an overseas subsidiary. Under IFRS, because the loan is not in the functional currency of either the borrower or lender, hedge gains or losses must be taken to the income statement, rather than to the foreign currency translation reserve. Foreign exchange gains for the year to 30 June 2005 were A$2.1 million higher than under AGAAP, with a corresponding reduction in the foreign currency translation reserve. h) Operating leases Under AASB 117 Leases, operating leases with fixed rental increases are required to be amortised on a straight-line basis over the life of the lease, rather than on the basis of the cash flow in the lease, which was the treatment previously applied by Brambles. Other non-current payables have increased by A$6.3 million and A$6.0 million at 1 July 2004 and 30 June 2005 respectively, with corresponding decreases in deferred tax liabilities and retained earnings at those dates. This adjustment was not reflected in the 2005 comparative data reported at the half-year. The impact on profits for the year ended 30 June 2005 was immaterial. i) Other Certain other adjustments were made on transition to IFRS, but these are individually and collectively immaterial. Note 40. ASIC relief from the requirement to distribute full BIL parent entity financial statements BIL has received an order from the Australian Securities and Investments Commission (ASIC) relieving it from certain requirements in relation to its parent entity financial statements. In summary, the order provides relief from the requirement to distribute full parent entity financial statements for BIL with the Brambles Annual Report, provided: • the consolidated financial statements published in the Annual Report include a note setting out the primary parent entity financial statements for BIL and a summary of the relief provided by the ASIC order; • full parent entity financial statements for BIL are prepared, audited and published on Brambles’ website; and • a hard copy of the full parent entity financial statements for BIL is available free of charge from Brambles. Note 41 below sets out the primary parent entity financial statements. The full parent entity financial statements for BIL are published at www.brambles.com and a hard copy may be obtained through the Company Secretary.
157 Brambles 2006 Annual Report Note 41. Abbreviated BIL parent entity financial statements a) Income statement for the year ended 30 June 2006 Before special items A$m 2006 2005 Special items A$m Result for the year A$m Before special items A$m Special items A$m Result for the year A$m Revenue 534.4 – 534.4 213.8 – 213.8 Other income – 1,152.0 1,152.0 – – – Operating expenses (49.9) (25.7) (75.6) (57.2) – (57.2) Operating profit 484.5 1,126.3 1,610.8 156.6 – 156.6 Finance revenue 21.0 – 21.0 56.3 – 56.3 Finance costs (0.1) – (0.1) (0.2) – (0.2) Net finance revenue 20.9 – 20.9 56.1 – 56.1 Profit before tax 505.4 1,126.3 1,631.7 212.7 – 212.7 Tax expense 2.7 (159.1) (156.4) (7.8) – (7.8) Profit for the year 508.1 967.2 1,475.3 204.9 – 204.9 b) Balance sheet as at 30 June 2006 ASSETS Current assets Receivables 2,012.9 122.3 Other assets 0.8 0.8 Total current assets 2,013.7 123.1 Non-current assets Receivables 42.2 413.5 Other financial assets – investments 1,185.8 983.1 Property, plant and equipment 1.5 2.0 Deferred tax assets 11.3 – Total non-current assets 1,240.8 1,398.6 Total assets 3,254.5 1,521.7 LIABILITIES Current liabilities Payables 461.8 19.2 Borrowings 6.9 2.3 Tax liabilities 160.6 30.4 Provisions 20.5 15.1 Total current liabilities 649.8 67.0 Non-current liabilities Provisions 36.4 2.2 Payables 6.6 – Non-current tax liability 15.7 – Deferred tax liabilities – 32.0 Total non-current liabilities 58.7 34.2 Total liabilities 708.5 101.2 Net assets 2,546.0 1,420.5 EQUITY Contributed equity 1,055.5 1,212.4 Reserves 56.5 28.2 Retained earnings 1,434.0 179.9 Total equity 2,546.0 1,420.5 2006 A$m 2005 A$m
Page 1 and 2:
Brambles 2006 Annual Report Bramble
Page 3 and 4:
1 Brambles 2006 Annual Report CHEP
Page 5 and 6:
Page 7 and 8:
5 Brambles 2006 Annual Report Recal
Page 9 and 10:
7 Brambles 2006 Annual Report On 29
Page 11 and 12:
9 Brambles 2006 Annual Report SALES
Page 13 and 14:
11 Brambles 2006 Annual Report The
Page 15 and 16:
13 Brambles 2006 Annual Report Focu
Page 17 and 18:
15 Brambles 2006 Annual Report Our
Page 19 and 20:
17 Brambles 2006 Annual Report Exce
Page 21 and 22:
19 Brambles 2006 Annual Report Davi
Page 23 and 24:
Page 25 and 26:
23 Brambles 2006 Annual Report SALE
Page 27 and 28:
25 Brambles 2006 Annual Report Reca
Page 29 and 30:
27 Brambles 2006 Annual Report SALE
Page 31 and 32:
29 Brambles 2006 Annual Report 09 1
Page 33 and 34:
31 Brambles 2006 Annual Report CORP
Page 35 and 36:
33 Brambles 2006 Annual Report Loca
Page 37 and 38:
35 Brambles 2006 Annual Report Bram
Page 39 and 40:
37 Brambles 2006 Annual Report 2. c
Page 41 and 42:
39 Brambles 2006 Annual Report Summ
Page 43 and 44:
41 Brambles 2006 Annual Report Proc
Page 45 and 46:
43 Brambles 2006 Annual Report Fore
Page 47 and 48:
45 Brambles 2006 Annual Report conv
Page 49 and 50:
47 Brambles 2006 Annual Report A di
Page 51 and 52:
49 Brambles 2006 Annual Report In l
Page 53 and 54:
51 Brambles 2006 Annual Report 5.2
Page 55 and 56:
53 Brambles 2006 Annual Report •
Page 57 and 58:
55 Brambles 2006 Annual Report Glos
Page 59 and 60:
57 Brambles 2006 Annual Report Furt
Page 61 and 62:
59 Brambles 2006 Annual Report 2005
Page 63 and 64:
61 Brambles 2006 Annual Report The
Page 65 and 66:
63 Brambles 2006 Annual Report 5. D
Page 67 and 68:
65 Brambles 2006 Annual Report 5.2
Page 69 and 70:
67 Brambles 2006 Annual Report Name
Page 71 and 72:
69 Brambles 2006 Annual Report Name
Page 73 and 74:
71 Brambles 2006 Annual Report US$
Page 75 and 76:
73 Brambles 2006 Annual Report •
Page 77 and 78:
75 Brambles 2006 Annual Report Righ
Page 79 and 80:
77 Brambles 2006 Annual Report DIRE
Page 81 and 82:
79 Brambles 2006 Annual Report Dire
Page 83 and 84:
81 Brambles 2006 Annual Report On t
Page 85 and 86:
83 Brambles 2006 Annual Report SHAR
Page 87 and 88:
85 Brambles 2006 Annual Report Anal
Page 89 and 90:
87 Brambles 2006 Annual Report NUMB
Page 91 and 92:
89 Brambles 2006 Annual Report CONS
Page 93 and 94:
91 Brambles 2006 Annual Report CONS
Page 95 and 96:
93 Brambles 2006 Annual Report NOTE
Page 97 and 98:
95 Brambles 2006 Annual Report Comp
Page 99 and 100:
97 Brambles 2006 Annual Report reco
Page 101 and 102:
99 Brambles 2006 Annual Report Deri
Page 103 and 104:
101 Brambles 2006 Annual Report Not
Page 105 and 106:
103 Brambles 2006 Annual Report Not
Page 107 and 108: 105 Brambles 2006 Annual Report Not
Page 113 and 114: 111 Brambles 2006 Annual Report 200
Page 117 and 118: 115 Brambles 2006 Annual Report For
Page 127 and 128: 125 Brambles 2006 Annual Report h)
Page 141 and 142: 139 Brambles 2006 Annual Report d)
Page 145 and 146: 143 Brambles 2006 Annual Report In
Page 147 and 148: 145 Brambles 2006 Annual Report i)
Page 149 and 150: 147 Brambles 2006 Annual Report iii
Page 151 and 152: 149 Brambles 2006 Annual Report d)
Page 155 and 156: 153 Brambles 2006 Annual Report ii)
Page 157: 155 Brambles 2006 Annual Report vi)
Page 161 and 162: 159 Brambles 2006 Annual Report DIR
Page 163 and 164: 161 Brambles 2006 Annual Report Bas
Page 165 and 166: 163 Brambles 2006 Annual Report BIP
Page 167 and 168: 165 Brambles 2006 Annual Report DEF
Page 171 and 172: 169 Brambles 2006 Annual Report IND
Page 173 and 174: 171 Brambles 2006 Annual Report GLO
Page 175 and 176: DIRECTORY Brambles Industries Limit
show all

Brambles 2006 Annual Report - Alle jaarverslagen

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?