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BRADKEN LIMITED ANNUAL REPORT 2013 59
Notes to the consolidated financial statements
30 June 2013
(continued)
8 Receivables (continued)
(f)
2013
2012
$'000
$'000
Australian Dollars
42,848
82,539
US Dollars
79,213
95,870
Canadian Dollars
31,968
23,649
Chinese Yuan
1,628
7,808
Other *
15,033
12,918
170,690
222,784
9 Other receivables
2013
2012
$'000
$'000
Current receivables under finance leases (a)
453
402
Non current receivables under finance leases (a)
5,078
5,323
(a)
$'000
$'000
$'000
2012
Present value
402
2,180
3,143
Unearned interest income
678
2,435
1,001
Total future payments
1,080
4,615
4,144
2013
Present value
453
2,453
2,625
Unearned interest income
654
2,305
479
Total future payments
1,107
4,758
3,104
10 Inventories
2013
2012
$'000
$'000
Construction work in progress:
86,046
243,697
Progress billing
(70,370)
(181,716)
Net construction work in progress
15,676
61,981
Raw materials and stores
56,843
56,462
Work in progress
79,518
93,344
Finished goods
114,889
96,326
266,926
308,113
(a)
Write downs of inventories to net realisable value recognised as an expense during the year ended 30 June 2013 amounted to
$1,502,000 (2012: $498,000). The expense has been included in 'cost of sales' in the income statement.
Contract costs incurred and recognised profits less
recognised losses
* Other refers to a basket of currencies (Euros, Great British Pounds, Japanese Yen, New Zealand Dollars, Singapore Dollars, Malaysian Ringgit, South
African Rand, Chilean Pesos)
Receivables under finance leases
The Group leases freight rail wagons to customers in Australia under finance lease arrangements. Lease agreements in which
the other party, as lessee, is to be regarded as the economic owner of the leased assets give rise to accounts receivable in the
amount of discounted future lease payments. The receivables under finance leases are as follows:
Not later than
one year
Between one
and five years
Later than five
years
Further information about the Group's and the parent entity's exposure to credit risk, foreign exchange risk and interest rate risk
in relation to trade and other receivables is provided in note 2.
Foreign exchange and interest rate risk
Inventory expense
The carrying amounts of the Group's and parent entity current and non-current receivables are denominated in the following
currencies:
Page 59
Bradken Limited