Financials - Santos
Financials - Santos
Financials - Santos
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Notes to the Consolidated Financial Statements<br />
for the year ended 31 December 2012<br />
37. Deed of Cross Guarantee (CONTINUED)<br />
Set out below is a consolidated income statement, consolidated statement of comprehensive income and summary of movements in<br />
consolidated retained earnings for the year ended 31 December 2012 of the Closed Group:<br />
2012 2011<br />
$million<br />
$million<br />
Consolidated income statement<br />
Product sales 2,613 2,380<br />
Cost of sales (2,028) (1,858)<br />
Gross profit 585 522<br />
Other revenue 223 338<br />
Other income 20 365<br />
Other expenses (394) (542)<br />
Interest income 136 184<br />
Finance costs (126) (234)<br />
Profit before tax 444 633<br />
Income tax expense (97) (124)<br />
Royalty‐related taxation expense (41) (51)<br />
Total taxation expense (138) (175)<br />
Net profit for the period 306 458<br />
Consolidated statement of comprehensive income<br />
Net profit for the period 306 458<br />
Other comprehensive income, net of tax:<br />
Net exchange (loss)/gain on translation of foreign operations (3) 1<br />
Net actuarial gain/(loss) on defined benefit plan 1 (10)<br />
Total comprehensive income 304 449<br />
Summary of movements in Closed Group’s retained earnings<br />
Retained earnings at 1 January 1,168 958<br />
Adjustment to retained earnings for company added to Deed during the year 24 –<br />
Net profit for the period 306 458<br />
Net actuarial gain/(loss) on defined benefit plan 1 (10)<br />
Dividends to shareholders (285) (263)<br />
Share‐based payment transactions 13 25<br />
Retained earnings at 31 December 1,227 1,168<br />
154
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