Consolidation – estimations
That is one other idea which I've discovered and has enabled me significantly to know the monetary statements within the case of Woolworths. It's refereed to as the corporate and the consolidated statements are these of the entire entity. That's, Woolworths restricted and its managed entities comparable to subsidiaries and associates. Subsidiaries are the entities during which Woolworths has the facility instantly or not directly, to control the monetary and working insurance policies of an entity in order to acquire advantages from its actions. Associates are these entities over which the consolidated entity workout routines important affect, however not management. The remedy of subsidiaries is sort of completely different from that of associates. Estimations – these are the provisions within the earnings statements, steadiness sheet and assertion of shareholder fairness. The quantity acknowledged as a provision is the most effective estimate of the consideration required to settle the current obligation at reporting date, taking into account the dangers and uncertainties surrounding the duty. The place a provision is measured utilizing the money flows estimated to settle the current obligation, its carrying quantity is the current worth of these money flows. Reference: WOW, Woolworths Ltd (2006). Monetary statements. Web site: www. woolworths. com. au Appendix WOW, Woolworths Ltd - 2006 - Monetary Statements Monetary Statements 5 12 months Abstract INCOME STATEMENT AIFRS AIFRS AGAAP AGAAP AGAAP AGAAP 2006 2005 2005 2004 2003 2002 Weeks 52 52 52 52 52 53 Gross sales ($m) Meals and Liquor (1) 28,063. zero 23,569. 6 23,569. 6 21,997. 6 21,zero39. zero 19,595. zero Petrol four,390. four three,308. four three,308. four 2,194. 9 1,710. 5 1,119. three Complete Supermarkets 32,453. four 26,878. zero 26,878. zero 24,192. 5 22,749. 5 20,714. three BIG W three,119. 1 2,908. 7 2,908. 7 2,717. 9 2,500. three 2,280. 5 Client Electronics 1,167. 1 1,zero07. 5 1,zero07. 5 886. three 791. 2 659. zero Complete Common Merchandise four,286. 2 three,916. 2 three,916. 2 three,604. 2 three,291. 5 2,939. 5 Resorts 849. 9 415. eight 415. eight - - - 37,589. 5 31,210. zero 31,210. zero 27,796. 7 26,zero41. zero 23,653. eight Wholesale 144. 7 142. 5 142. 5 137. 2 280. four 819. 2 Complete Group 37,734. 2 31,352. 5 31,352. 5 27,933. 9 26,321. four 24,473. zero Earnings earlier than curiosity and tax ($m) Meals and Liquor (1) 1,394. 9 1,zero91. 5 1,zero77. 2 941. 7 825. 1 734. 7 Petrol 53. 1 36. 2 36. three 18. 6 29. 9 12. 7 Complete Supermarkets 1,448. zero 1,127. 7 1,113. 5 960. three 855. zero 747. four BIG W 123. 1 118. three 118. zero 116. 2 103. 7 93. 5. Client Electronics 64. zero 54. 5 51. eight 44. 1 37. zero 28. zero Complete Common Merchandise 187. 1 172. eight 169. eight 160. three 140. 7 121. 5 Resorts 151. 1 52. eight 54. 9 - - - Complete buying and selling operations 1,786. 2 1,353. three 1,338. 2 1,120. 6 995. 7 868. 9 Internet property earnings 18. three 21. 2 20. three 21. 7 26. 6 34. 2 Head workplace overheads (84. 1) (74. 9) (77. 9) (79. zero) (76. 7) (77. eight) Complete unallocated (2) (65. eight) (53. 7) (57. 6) (57. three) (50. 1) (43. 6) 1,720. four 1,299. 6 1,280. 6 1,063. three 945. 6 825. three Wholesale 1. eight 2. 5 2. four 1. eight zero. 1 7. four Complete Group 1,722. 2 1,302. 1 1,283. zero 1,065. 1 945. 7 832. 7. EBIT to gross sales (%) Complete Supermarkets four. 46 four. 19 four. 14 three. 97 three. 76 three. 61 BIG W three. 95 four. 07 four. 06 four. 28 four. 15 four. 10 Client Electronics 5. 48 5. 41 5. 14 four. 98 four. 68 four. 25 Resorts 17. 78 12. 70 13. 20 - - - Wholesale 1. 25 1. 75 1. 68 1. 31 zero. 04 zero. 90 Complete four. 56 four. 16 four. 09 three. 81 three. 59 three. 40 Gross sales 37,734. 2 31,352. 5 31,352. 5 27,933. 9 26,321. four 24,473. zero Price of products offered (28,289. 6) (23,550. 2) (23,549. 9) (20,975. 5) (19,703. zero) (18,296. zero) Gross revenue 9,444. 6 7,802. three 7,802. 6 6,958. four 6,618. four 6,177. zero Gross revenue margin (%) 25. 03 24. 89 24. 89 24. 91 25. 14 25. 24. Price of doing enterprise (CODB) (7,722. four) (6,500. 2) (6,519. 6) (5,893. three) (5,672. 7) (5,344. three) CODB (%) 20. 47 20. 73 20. 80 21. 10 21. 55 21. 84 Promoting, basic and admin bills (excluding hire, depreciation and amortisation) (6,130. 1) (5,184. zero) (5,153. 7) (four,675. 9) (four,515. 7) (four,288. three) EBITDAR three,314. 5 2,618. three 2,648. 9 2,282. 5 2,102. 7 1,888. 7 EBITDAR margin (%) eight. 78 eight. 35 eight. 45 eight. 17 7. 99 7. 72 Lease (together with fitout hire) (1,zero70. 1) (900. 2) (904. 9) (809. eight) (758. 7) (705. zero) EBITDA 2,244. four 1,718. 1 1,744. zero 1,472. 7 1,344. zero 1,183. 7 EBITDA margin (%) 5. 95 5. 48 5. 56 5. 27 5. 11 four. 84 Depreciation (522. 2) (416. zero) (419. 2) (379. 6) (370. 9) (327. 7) Amortisation of goodwill - - (41. eight) (28. zero) (27. four) (23. three) EBIT 1,722. 2 1,302. 1 1,283. zero 1,065. 1 945. 7 832. 7 EBIT margin (%) four. 56 four. 16 four. 09 three. 81 three. 59 three. 40 Curiosity (201. eight) (104. 9) (108. 5) (47. three) (39. 7) (50. 5) WINs and Woolworths Notes curiosity (47. 9) (45. 2) (45. 2) (42. 9) (41. 1) (39. eight) Revenue earlier than tax and irregular objects 1,472. 5 1,152. zero 1,129. three 974. 9 864. 9 742. four Taxation (445. eight) (334. eight) (337. 7) (286. 7) (255. zero) (218. 5) Revenue after tax and earlier than irregular objects 1,zero26. 7 817. 2 791. 6 688. 2 609. 9 523. 9 Minority curiosity (12. 1) (1. zero) (1. 1) (zero. four) (zero. four) (zero. 7) Revenue attributable to members of Woolworths Restricted after tax and servicing earnings notes 1,zero14. 6 816. 2 790. 5 687. eight 609. 5 523. 2 BALANCE SHEET AIFRS AIFRS AGAAP AGAAP AGAAP AGAAP 2006 2005 2005 2004 2003 2002 Weeks 52 52 52 52 52 53 Funds employed ($m) Stock 2,316. 1 1,969. 6 1,977. three 1,847. zero 1,843. 1 1,838. four Accounts payable (2,778. 5) (2,339. eight) (2,335. 6) (2,176. three) (2,078. 9) (2,000. 6) Internet funding in stock (462. four) (370. 2) (358. three) (329. three) (235. eight) (162.2). Fastened belongings and investments four,172. 1 three,425. eight three,581. 9 2,758. eight 2,485. zero 2,366. eight Intangibles four,759. four 2,zero46. four 2,011. four 572. three 555. three 545. zero Receivables 1,174. four 611. 9 689. 9 423. zero 543. 1 496. 6 Different collectors (1,838. 7) (1,483. eight) (1,457. eight) (1,267. 1) (1,186. 1) (989. 6) Complete funds employed (three) 7,804. eight four,230. 1 four,467. 1 2,157. 7 2,161. 5 2,256. 6 Internet tax balances 252. three 182. 2 147. 2 58. 7 21. three (7. 9) Provision for dividend (four) - - - - - (188. 9) Internet belongings employed eight,zero57. 1 four,412. three four,614. three 2,216. four 2,182. eight 2,zero59. eight Internet repayable debt (5) (three,799. 5) (2,412. 1) (2,417. 2) (163. 9) (359. 6) (237. three) Internet belongings four,257. 6 2,000. 2 2,197. 1 2,zero52. 5 1,823. 2 1,822. 5 Noteholders' fairness (WINs) (6) - - - 583. zero 583. zero 583. zero Minority curiosity 229. eight 26. zero 33. three 5. 2 four. eight four. four Shareholders' fairness four,zero27. eight 1,974. 2 2,163. eight 1,464. three 1,235. four 1,235. 1 Complete fairness four,257. 6 2,000. 2 2,197. 1 2,zero52. 5 1,823. 2 1,822. 5 CASH FLOW ($M) AIFRS AIFRS AGAAP AGAAP AGAAP AGAAP 2006 2005 2005 2004 2003 2002 Weeks 52 52 52 52 52 53 EBITDA 2,244. four 1,718. 1 1,744. zero 1,472. 7 1,344. zero 1,183. 7 Motion in web funding in stock 61. four (44. three) (44. zero) 97. three 76. 1 247. eight Different working money flows 127. eight 100. four 80. eight 69. 2 155. 5 38. 7 Internet curiosity paid (together with price of earnings notes) (253. 2) (161. 5) (161. 5) (95. 7) (82. three) (97. four) Tax paid (475. three) (398. three) (398. three) (324. 1) (283. eight) (238. 1) Working money move 1,705. 1 1,214. four 1,221. zero 1,219. four 1,209. 5 1,134. 7 Funds for property, plant and gear (1,411. 7) (1,180. 5) (1,180. 5) (718. 7) (593. four) (596. 7) Proceeds on disposal of property, plant and gear 328. 7 97. 7 97. 7 138. 1 114. 5 203. eight Main acquisitions - debt funded (1,464.7) (1,208. eight) (1,208. eight) - - (257. zero) Different investing money flows (178. 1) (76. 7) (76. 6) 1. four (65. three) (93. 9) Free money move (1,zero20. 7) (1,153. 9) (1,147. 2) 640. 2 665. three 390. 9 Motion in gross debt 1,078. 6 1,312. 7 1,312. 5 (133. 7) 118. three (114. four) Dividends paid - (201. 9) (201. 9) (346. 9) (307. three) (251. 5) Purchase-back of shares - - - (140. 9) (534. 1) - New shares issued 40. 9 128. zero 120. zero 42. 9 50. 1 14. zero Results of trade price modifications on steadiness of money held in foreign exchange (6. 7) - - - - - Internet money move 92. 1 84. 9 83. four 61. 6 (7. 7) 39. zero.