37. Parent Entity information
The accounting policies of the Parent Entity, which have been applied in determining the financial information shown below, are the same as those applied in the consolidated financial statements.
Financial position
2019 | Restated | |
|---|---|---|
Assets | ||
Current assets | 259 | 676 |
Non-current assets | 12,361 | 13,090 |
Total assets | 12,620 | 13,766 |
Liabilities | ||
Current liabilities | 400 | 521 |
Non-current liabilities | 5,559 | 6,814 |
Total liabilities | 5,959 | 7,335 |
Equity | ||
Issued capital | 6,223 | 6,223 |
Reserves | ||
Employee equity benefits reserve | (2) | (3) |
Hedge reserve | (46) | (34) |
Retained earnings | 486 | 245 |
Total equity | 6,661 | 6,431 |
- 1 Comparatives have been restated for the adoption of AASB 9 Financial Instruments and AASB 16 Leases. Refer to Note 38(c).
Financial performance
Profit for the year | 1,016 | 791 |
Other comprehensive loss | (13) | (8) |
Total comprehensive income for the year | 1,003 | 783 |
Guarantees entered into by the parent entity in relation to the debts of its subsidiaries
The Parent Entity has entered into a Deed of Cross Guarantee with the effect that it guarantees the debts in respect of its wholly owned Australian subsidiaries. Further details of the Deed of Cross Guarantee and the subsidiaries subject to the deed, are disclosed in Notes 27 and 31 respectively.
Contingent liabilities
The Parent Entity is a party to various legal actions and claims which have arisen in the ordinary course of business. The Parent Entity has provided warranties and indemnities to certain third parties in relation to the performance of contracts by various wholly owned subsidiaries.
The Directors are of the opinion that provisions are not required in respect of these matters, as it is either not probable that a future sacrifice of economic benefits will be required or the amount is not capable of reliable measurement.
Capital expenditure commitments
As at 30 June 2019, the Parent Entity had commitments for the acquisition of property, plant and equipment of $2 million (2018: $13 million) and its share of joint operations capital commitments was nil (2018: nil).