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Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally

Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally



Note 8: Non-Financial Assets

 
2010
$'000
2009
$'000
Note 8A: Land and Buildings    
Land at fair value 916,330 1,036,126
Buildings on freehold land:    
    Work in progress1 7,891 3,506
    Fair value 725,561 688,447
    Accumulated depreciation (12) (5,500)
Total buildings on freehold land 1,649,770 1,722,579
     
Leasehold improvements:    
    Fair value 246,573 171,783
    Accumulated depreciation (67,231) (32,657)
    Work in progress 31,871 89,348
Total leasehold improvements 211,213 228,474
Total land and buildings 1,860,983 1,951,053

1This is a qualifying asset and includes foreign exchange gains and losses which have been capitalised.

Two properties (a residence in Suva, Fiji and a Weather Station in Vanimo, PNG) have been classified as Assets Held for Sale. Total value is $499,395.

Note 8B: Infrastructure, Plant and Equipment    
Other Infastructure, plant and equipment:    
    Fair value 174,574 191,947
    Accumulated depreciation (44,218) (69,591)
    Work in progress 12,410 5,399
    Accumulated impairment losses  -  -
Total Infrastructure, plant and equipment 142,766 127,755

All revaluations are conducted in accordance with the revaluation policy stated at Note 1. On 31 March 2010 and 30 June 2010, independent valuers, the Australian Valuation Office, Savills Pty Ltd and Pickles Valuations conducted the revaluations.

Revaluation decrements of $118,167,000 for land (2009: increments of $74,610,038) and increments of $41,955,064 for buildings on freehold land (2009: decrements of $12,694,063), impairment losses of $87,993 for leasehold improvements (2009: decrements of $35,424) and revaluation increments of $598,341 for other plant and equipment (2009: decrements of $436,407) were made to the asset revaluation reserve. Impairment losses of $10,514 for other plant and equipment (2009: revaluation decrements of $1,755,144) were expensed.

 

Note 8C: Reconciliation of the Opening and closing balances of Property, Plant and Equipment (2009-2010)
 
Land
$'000
Buildings
$'000
Total land and buildings
$'000
Infastructure, plant & equipment
$'000
Total
$'000
As at 1 July 2009          
Gross book value 1,036,126 860,230 1,896,356 191,947 2,088,303
Accumulated depreciation and impairment  - (38,157) (38,157) (69,591) (107,748)
Work in progress 92,854 92,854 5,399 98,253
Net book value 1 July 2009 1,036,126 914,927 1,951,053 127,755 2,078,808
Additions:
    By purchase 3,060 36,569 39,629 28,156 67,785
    By donation/gift  -  -  - 5 5
Revaluations and impairments recognised in other comprehensive income (118,167) 41,867 (76,300) 598 (75,702)
Revaluations recognised in the operating result  -  -  - (10) (10)
Assets held for sale or in a disposal group held for sale 204 296 500  - 500
Depreciation expense  - (50,889) (50,889) (30,327) (81,216)
Asset transfers  - 57,214 57,214 10,398 67,612
Net movement in work in progress  - (53,092) (53,092) 7,011 (46,081)
Disposals:  -    -
    Other (4,893) (2,238) (7,131) (820) (7,951)
Net book value 30 June 2010 916,330 944,654 1,860,984 142,766 2,003,750
 
Net book value as of 30 June 2010 represented by:
Gross book value 916,330 972,135 1,888,465 174,574 2,063,039
Accumulated depreciation  - (67,243) (67,243) (44,218) (111,461)
Work in progress  - 39,762 39,762 12,410 52,172
  916,330 944,654 1,860,984 142,766 2,003,750
           
Note 8C: Reconciliation of the Opening and closing balances of Property, Plant and Equipment (2008-2009)
 
Land
$'000
Buildings
$'000
Total land and buildings
$'000
Infastructure, plant & equipment
$'000
Total
$'000
As at 1 July 2008          
Gross book value 957,878 842,934 1,800,812 159,356 1,960,168
Accumulated depreciation and impairment  - (11,604) (11,604) (42,144) (53,748)
Work in progress 75,720 75,720 1,878 77,598
Net book value as at 1 July 2008 957,878 907,050 1,864,928 119,090 1,984,018
Additions:
    By purchase 8,809 45,369 54,178 36,768 90,946
    By finance lease  -  -  -  -  -
    By donation/gift  -  -  - 16 16
From acquisition of entities or operations (including restructuring)  -  -  -  -  -
Revaluations and impairments recognised in other comprehensive income 74,610 (12,729) 61,881 (437) 61,444
Revaluations recognised in the operating result  -  -  - (1,755) (1,755)
Impairments recognised in the operating result  -  -  -  -  -
Reversal of impairments recognised in the operating result  -  -  -  -  -
Assets held for sale or in a disposal group held for sale  -  -  -  -  -
Depreciation expense  - (46,657) (46,657) (30,760) (77,417)
Other movements  -  -  -  -  -
     Asset transfers  - 7,742 7,742 1,913 9,655
    Net movement in work in progress  - 17,134 17,134 3,521 20,655
Disposals:  -  -    -
From disposal of entities or operations (including restructuring)  -  -  -  -
    Other (5,171) (2,982) (8,153) (601) (8,754)
Net book value as at 30 June 2009 1,036,126 914,927 1,951,053 127,755 2,078,808
 
Net book value as of 30 June 2009 represented by:
Gross book value 1,036,126 860,230 1,896,356 191,947 2,088,303
Accumulated depreciation and impairment  - (38,157) (38,157) (69,591) (107,748)
Work in progress  - 92,854 92,854 5,399 98,253
  1,036,126 914,927 1,951,053 127,755 2,078,808

 

 
2010
$'000
2009
$'000
Note 8D: Intangibles    
Computer software:    
    Internally developed – in progress  4,178 548
    Internally developed – in use 28,769 21,267
   Purchased 19,493 15,802
Total computer software (gross) 52,440 37,617
Accumulated amortisation (31,293) (27,652)
Total computer software (net) 21,147 9,965
     
Total intangibles 21,147 9,965
     

No indicators of impairment were found for intangible assets.

No intangibles are expected to be sold or disposed of within the next 12 months.

 

Reconciliation of the Opening and Closing Balances of Intangibles (2009-2010)
 
Computer software internally developed
$'000
Computer  software purchased
$'000
Total
$'000
As at 1 July 2009      
Gross book value 21,267 15,802 37,069
Accumulated amortisation and impairment (16,894) (10,758) (27,652)
Assets under construction 548  - 548
Net book value 1 July 2009 4,921 5,044 9,965
Additions:
    By purchase   - 2,084 2,084
    Internally developed 2,808 2,808
Amortisation (2,189) (1,546) (3,735)
Other movements
    Asset Transfers 2,311 642 2,953
    Reclassification - purchased to internally developed (151) 151  -
    Net movement in assets under construction (WIP) 3,629 3,445 7,074
Disposals:  -
    Other (2) (2)
Net book value 30 June 2010 11,327 9,820 21,147
 
Net book value as of 30 June 2010 represented by:
Gross book value 28,769 16,048 44,817
Accumulated amortisation and impairment (21,620) (9,673) (31,293)
Assets under construction 4,178 3,445 7,623
  11,327 9,820 21,147
       
Reconciliation of the Opening and Closing Balances of Intangibles (2008-2009)
 
Computer software internally developed
$'000
Computer  software purchased
$'000
Total
$'000
As at 1 July 2008      
Gross book value 10,297 18,657 28,954
Accumulated amortisation and impairment (7,251) (14,701) (21,952)
Assets under construction 74 1,439 1,513
Net book value 1 July 2008 3,120 5,395 8,515
Additions:      
    By purchase   - 1,614 1,614
    Internally developed 852  - 852
Amortisation (1,848) (2,202) (4,050)
Other movements:      -
    Asset Transfers 2,285 1,718 4,003
    Reclassification - purchased to internally developed 38 (38)  -
    Net movement in assets under construction (WIP) 474 (1,439) (965)
Disposals:      
    Other  - (4) (4)
Net book value 30 June 2009 4,921 5,044 9,965
       
Net book value as of 30 June 2009 represented by:      
Gross book value 21,267 15,802 37,069
Accumulated amortisation and impairment (16,894) (10,758) (27,652)
Assets under construction 548   548
  4,921 5,044 9,965

 

 
2010
$'000
2009
$'000
Note 8F: Inventories    
Inventories held for sale:    
   Finished goods 34,524 31,402
Total inventories held for sale 34,524 31,402
Inventories held for distribution 162 87
Total inventories 34,686 31,489
     

No items of inventory were recognised at fair value less cost to sell.

All inventory is expected to be sold or distributed in the next 12 months.

     
Note 8G: Other Non-Financial Assets    
Prepayments    
    Property Leases        16,129 16,281
    Other        11,429 8,101
Total other non-financial assets 27,558 24,382
     
No indicators of impairment were found for other non-financial assets.  
 
Total other non-financial assets - are expected to be recovered in:    
    No more than 12 months 22,097 18,218
    More than 12 months 5,461 6,164
Total other non-financial assets 27,558 24,382

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Department of Foreign Affairs and Trade