NOTE 40
PARENT ENTITY FINANCIAL INFORMATION
(a) Summary financial
information
The individual financial statements for the parent
entity (Australian Rail Track Corporation) show the
following aggregate amounts:
Balance sheet
2013
$’000
2012
$’000
Current assets
348,930
175,321
Non-current assets
5,077,748
4,519,376
Total assets
5,426,678
4,694,697
Current liabilities
168,417
253,026
Non-current liabilities
1,804,481
1,110,743
Total liabilities
1,972,898
1,363,769
Net assets
3,453,780
3,330,928
Shareholders’ equity
Contributed equity
2,603,226
2,391,526
Reserves
989,596
878,927
Retained earnings
(139,042)
60,475
Capital and reserves attributable to owners of
Australian Rail Track Corporation Ltd
3,453,780
3,330,928
Total revenue and other income
728,783
690,123
Total expenses
(1,028,515)
(837,418)
Finance costs - net
(27,184)
(18,527)
Income tax (expense)/benefit
125,119
(54,357)
(Loss) for the year
(201,797)
(220,179)
Other comprehensive income
Revaluation property, plant and equipment
160,797
-
Income tax effect of revaluation
(48,201)
-
Reversal of revaluation property, plant and equipment
-
(311,874)
Income tax effect of reversal of revaluation
-
93,562
Income tax effect of revaluation
-
1,196
Actuarial (losses) /gains on defined benefit fund obligations
3,080
(5,041)
Income tax effect on defined benefit fund obligations
(924)
1,512
Cash flow hedge charged to equity - interest rate swap
(1,774)
(3,813)
Cash flow hedge charged to equity - foreign exchange
70
99
Net changes in the fair value of cashflow hedges transferred to profit and loss
(99)
7
Other comprehensive income for the year, net of tax
112,949
(224,352)
Total comprehensive income
(88,848)
(444,531)
(b) Contingent liabilities of the
parent entity
The parent entity accounts for costs associated with
rectifying rail access related incidents following their
occurrence. Income from subsequent insurance and other
recoveries is only recognised when there is a contractual
arrangement in place and the income is probable of being
received. As a result, certain potential insurance and or
other recoveries have not been recognised at year end,
as their ultimate collection is not considered probable.
(c) Contractual commitments
for the acquisition of property,
plant or equipment
As at 30 June 2013, the parent entity had
contractual commitments for the acquisition of
property, plant or equipment totaling $0.4b (30
June 2012 $0.1b). These commitments are not
recognised as liabilities as the relevant assets have
not yet been received.
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