BRADKEN LIMITED ANNUAL REPORT 2014 l 60
Notes to the consolidated financial statements
30 June 2014
(continued)
10 Receivables and other assets (continued)
(f)
2014
2013
$'000
$'000
Australian Dollars
42,463
42,848
US Dollars
62,185
79,213
Canadian Dollars
25,106
31,968
Chinese Yuan
1,533
1,628
Other *
12,179
15,033
143,466
170,690
11 Finance lease assets
2014
2013
$'000
$'000
Current receivables under finance leases (a)
509
453
Non current receivables under finance leases (a)
4,802
5,078
(a)
$'000
$'000
$'000
2013
Present value
453
2,453
2,625
Unearned interest income
654
2,305
479
Total future payments
1,107
4,758
3,104
2014
Present value
509
4,802
-
Unearned interest income
626
2,158
-
Total future payments
1,135
6,960
-
12 Inventories
2014
2013
$'000
$'000
Construction work in progress:
258,327
86,046
Progress billing
(247,915)
(70,370)
Net construction work in progress
10,412
15,676
Raw materials and stores
46,106
56,843
Work in progress
50,253
79,518
Finished goods
104,611
114,889
211,382
266,926
(a)
Write downs of inventories to net realisable value recognised as an expense during the year ended 30 June 2014 amounted to
$1,143,000 (2013: $1,502,000). 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)
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 3.
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
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 60
Bradken Limited
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
(CONTINUED)
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