AWB Limited - 2003 Annual Report

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NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2003 15. INTEREST BEARING LIABILITIES (continued) Financing arrangements The consolidated entity has access to the following lines of credit: Consolidated Committed credit facilities 2003 2002 FACILITY LIMIT FACILITY LIMIT Facility Balance Facility Balance currency undrawn currency undrawn Currency $'000 A$'000 A$'000 $'000 A$'000 A$'000 Bank overdraft AUD 10,000 10,000 10,000 10,000 10,000 10,000 Liquidity support AUD 250,000 250,000 250,000 850,000 850,000 850,000 Multi option facility – guarantee AUD 310,000 310,000 – – – – Multi option facility – loan AUD 640,000 640,000 248,200 – – – 1,210,000 508,200 860,000 860,000 Uncommitted credit facilities Bank overdraft USD 20,000 29,590 29,590 20,000 36,751 36,751 US commercial paper USD 1,500,000 2,219,263 2,219,263 1,500,000 2,756,340 1,979,603 Domestic commercial paper AUD 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 1,995,000 Euro commercial paper USD 1,500,000 2,219,263 2,219,263 1,500,000 2,756,340 2,489,893 6,468,116 6,468,116 7,549,431 6,501,247 Total facilities 7,678,116 6,976,316 8,409,431 7,361,247 Note: The multi option facility is inclusive of a guarantee facility. At 30 September 2003, the guarantee facility was fully utilised, with a drawing of AUD310 million. 66
16. PROVISIONS Consolidated AWB Limited Notes 2003 2002 2003 2002 $'000 $'000 $'000 $'000 Current Employee benefits Litigation Surplus leased premises and restoration Onerous contracts 31 26,669 5,200 6,915 1,548 7,288 2,900 – – 6,750 2,900 – – 6,390 2,900 – – Restructure 10,317 – 5,000 – Dividends – 30,075 – 30,075 50,649 40,264 14,650 39,365 Non–current Employee benefits 31 1,721 1,513 1,721 1,513 Consolidated AWB Limited 2003 2003 $'000 $'000 Reconciliations Reconciliations of the carrying amounts of litigation, restructure and dividend provisions are set out below: Litigation Carrying amount at the beginning of the year 2,900 2,900 Increase through acquisition of entity 2,300 – Decrease from favourable foreign currency movements (423) (423) Resolutions made during the year (334) (334) Provision made during the year 757 757 Carrying amount at the end of the year 5,200 2,900 Restructure Carrying amount at the beginning of the year – – Provision made during the year 5,000 5,000 Increase through acquisition of entity 5,317 – Carrying amount at the end of the year 10,317 5,000 Dividend Carrying amount at the beginning of the year 30,075 30,075 Provision made during the year 38,369 38,369 Payment made during the year (68,444) (68,444) Carrying amount at the beginning of the year – – 17. OTHER LIABILITIES Consolidated AWB Limited 2003 2002 2003 2002 $'000 $'000 $'000 $'000 Current Financial liabilities 8,907 – – – Unearned income 9,458 120 1,001 – Deferred gains – hedging contracts 3,684 19,956 – – 22,049 20,076 1,001 – 67
Page 1 and 2:
Annual Report 2003 imagine the futu
Page 3 and 4:
During the past year, Australia has
Page 5 and 6:
FINANCIAL PERFORMANCE SUMMARY Droug
Page 7 and 8:
There are six key business streams
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chairman’s and managing director
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As a gesture of AWB's appreciation
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pool management services AWB Nation
Page 15 and 16:
For the 2001/02 Pool, AWB managed a
Page 17 and 18: finance and risk management Harvest
Page 19 and 20: Through “ring fencing”, AWB was
Page 21 and 22: grain acquisition and trading Grain
Page 23 and 24: supply chain and other investments
Page 25 and 26: Children of AWB employees enjoying
Page 27 and 28: grain technology AWB Grain Technolo
Page 29 and 30: landmark Overview Landmark is Austr
Page 31 and 32: our people and systems People AWB e
Page 33 and 34: AWB has committed itself to a thoro
Page 35 and 36: Charles Stott Group General Manager
Page 37 and 38: the chairman, Mr Robert Barry and M
Page 39 and 40: Identification and Management of Si
Page 41 and 42: Birchip in Victoria and a former Vi
Page 43 and 44: Brendan Stewart Chairman, Non-execu
Page 45 and 46: international presence 43
Page 47 and 48: INNOVATION FOCUS TO DELIVER NEW OPP
Page 49 and 50: LIKELY DEVELOPMENTS AND EXPECTED RE
Page 51 and 52: DIRECTORS' MEETINGS (continued) Dir
Page 53 and 54: STATEMENT OF FINANCIAL POSITION AS
Page 55 and 56: NOTES TO AND FORMING PART OF THE FI
Page 57 and 58: (h) Derivatives (continued) transac
Page 59 and 60: 2. REVENUE FROM ORDINARY ACTIVITIES
Page 61 and 62: 4. TAXATION Consolidated AWB Limite
Page 63 and 64: 8. OTHER ASSETS Consolidated AWB Li
Page 65 and 66: 11. OTHER FINANCIAL ASSETS Consolid
Page 67: 13. PROPERTY, PLANT AND EQUIPMENT (
Page 71 and 72: 20. OUTSIDE EQUITY INTERESTS Consol
Page 73 and 74: 24. REMUNERATION OF DIRECTORS Conso
Page 75 and 76: 27. RELATED PARTY DISCLOSURES (cont
Page 77 and 78: 28. SEGMENT INFORMATION (continued)
Page 79 and 80: 31. EMPLOYEE BENEFITS AND SUPERANNU
Page 81 and 82: 32. FINANCIAL INSTRUMENTS (continue
Page 83 and 84: 32. FINANCIAL INSTRUMENTS (continue
Page 85 and 86: 33. DEED OF CROSS GUARANTEE Pursuan
Page 87 and 88: 34. CONTROLLED ENTITIES (continued)
Page 89 and 90: 35. EARNINGS PER SHARE Consolidated
Page 91 and 92: INDEPENDENT AUDIT REPORT TO MEMBERS
Page 93 and 94: FINANCIAL CALENDAR - 2004 Annual Ge
Page 95 and 96: AWB GROUP LOCATIONS ROYCE DESIGN AW
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AWB Limited - 2003 Annual Report

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