Endeavour Energy Annual Performance Report - Parliament of New ...

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09 Financial statements Statement of Financial Position As at 30 JuNE 2011 Note 2011 $’000 2010 $’000 ASSETS Current assets Cash and cash equivalents 8(a) 3,288 30,355 Trade and other receivables 9 209,924 309,965 Inventories 10 27,305 37,463 Derivative financial assets 21(g) 40,173 70,947 Estimated revenue from unread meters 48,483 127,037 Emission rights 7,689 19,406 Non-current assets classified as held for sale 11 4,800 4,800 Total current assets 341,662 599,973 Non-current assets Trade and other receivables 9 17,332 – Property, plant and equipment 12 4,711,941 4,275,733 Intangible assets 13 73,333 63,290 Derivative financial assets 21(g) 14,803 1,598 Total non-current assets 4,817,409 4,340,621 TOTAL ASSETS 5,159,071 4,940,594 LIABILITIES Current liabilities Trade and other payables 15 251,990 322,547 Borrowings 17 399,495 461,353 Current tax payable 43,039 32,397 Provisions 18 140,866 128,694 Provision for dividend 2(z) 156,758 142,610 Derivative financial liabilities 21(g) 41,163 75,521 Other 16 14,571 26,954 Total current liabilities 1,047,882 1,190,076 Non-current liabilities Trade and other payables 15 17,332 34,288 Borrowings 17 2,217,989 1,952,945 Deferred tax liabilities 7 457,380 390,950 Derivative financial liabilities 21(g) 17,314 43,755 Provisions 18 167,992 170,912 Other 19 – 3,819 Total non-current liabilities 2,878,007 2,596,669 TOTAL LIABILITIES 3,925,889 3,786,745 NET ASSETS 1,233,182 1,153,849 EQUITY Contributed equity 335,046 335,046 Reserves 710,041 610,437 Retained earnings 188,095 208,366 TOTAL EQUITY 1,233,182 1,153,849 The above Statement should be read in conjunction with the accompanying notes. 50
Statement of Changes in Equity For the yEAR ended 30 JuNE 2011 Note Contributed Equity $’000 Retained Earnings $’000 Asset Revaluation Surplus $’000 Hedge Reserve $’000 Total $’000 Balance at 1 July 2010 335,046 208,366 668,378 (57,941) 1,153,849 Total comprehensive income for the period Profit or loss – 1,003,997 – – 1,003,997 Other comprehensive income Defined benefit plan actuarial gains/(losses) 14(g) – (5,443) – – (5,443) System assets revaluation 12 – – 54,537 – 54,537 Revaluation of land and buildings – – 6,598 – 6,598 Net change in fair value of cash flow hedges 21(h) – – – 5,628 5,628 Net change in fair value of cash flow hedges transferred to profit or loss 21(h) – – – 75,531 75,531 Income tax on other comprehensive income 6(c) – 1,631 (18,341) (24,347) (41,057) Total other comprehensive income – (3,812) 42,794 56,812 95,794 Total comprehensive income for the period – 1,000,185 42,794 56,812 1,099,791 Transactions with owners, recorded directly in equity Transfers to retained earnings – 3 (3) – – Income tax on transfers to retained earnings – (1) 1 – – Dividends paid or provided for – (1,020,458) – – (1,020,458) Total transactions with owners – (1,020,456) (2) – (1,020,458) Balance at 30 June 2011 335,046 188,095 711,170 (1,129) 1,233,182 The above Statement should be read in conjunction with the accompanying notes. Endeavour Energy Annual Performance Report 2010–11 51
Page 1 and 2: ANNUAL PERFORMANCE REPORT 2010-11 I
Page 3 and 4: Contents LETTER TO SHAREHOLDING MIN
Page 5 and 6: YeAR at a Glance Items 2009-10 2010
Page 7 and 8: To that end, we pursued our second
Page 9 and 10: Endeavour Energy’s six strategic
Page 11 and 12: Performance indicator: lost time in
Page 13 and 14: Performance indicator: Capital expe
Page 15 and 16: Efficiency reviews to reduce costs
Page 17 and 18: Each year we investigate bushfire r
Page 19 and 20: STRATEGIC OBJECTIVE 6 - DELIVER PER
Page 21 and 22: Network Strategy Network business o
Page 23 and 24: Major works in progress 2010-11 con
Page 25 and 26: Major works in progress 2010-11 con
Page 27 and 28: The NSW Code of Practice - Demand M
Page 29 and 30: Network-related calls increased fro
Page 31 and 32: New apprentices vital to our workfo
Page 33 and 34: Equal employment opportunity As par
Page 35 and 36: Multicultural policies and services
Page 37 and 38: 06 8 % reduction in greenhouse emis
Page 39 and 40: Environmental management system Our
Page 41 and 42: ENDEAvoUR ENERGY’S GoveRNANCE AND
Page 43 and 44: EXECUTIve LEADERshIP TEAM Vince Gra
Page 45 and 46: 08 $ 245 m operating profit after t
Page 47 and 48: Debt Balance sheet debt increased b
Page 49 and 50: Directors’ Report For the yEAR en
Page 51: Statement of Comprehensive Income F
Page 55 and 56: Statement of Cash Flows For the yEA
Page 57 and 58: 2 Statement of Significant Accounti
Page 65 and 66: 4 Expenses 2011 $’000 2010 $’00
Page 67 and 68: 5 Gain/(loss) on sale of Retail bus
Page 69 and 70: 7 Deferred Tax (Assets)/Liabilities
Page 71 and 72: 8 Cash Flow Information continued (
Page 73 and 74: 9 Trade and Other Receivables conti
Page 75 and 76: 12 property Plant and Equipment con
Page 77 and 78: 13 Intangible Assets Software $’0
Page 79 and 80: 14 Employee Benefits - Superannuati
Page 81 and 82: 16 Other Current Liabilities 2011 $
Page 83 and 84: 21 Financial Instruments continued
Page 91 and 92: 23 Expenditure Commitments continue
Page 93 and 94: 27 prudential Requirements An unsec
Page 95 and 96: Appendices Contents Five-year stati
Page 97 and 98: Australian Financial Services Licen
Page 99 and 100: Executive Remuneration General prin
Page 101 and 102: Table A: Number of applications by
Page 103 and 104:
Implementation of Price Determinati
Page 105 and 106:
GLossARY The Australian Consumer La
Page 107:
Ausgrid LOCATIONS and contacts Kand
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