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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 6: Non-Financial Assets

2012
2011
$’000
$’000
Note 6A: Land and Buildings
Land:
Land at fair value1
921,466
867,840
Total land
921,466
867,840
Buildings:
Fair value1
696,486
651,136
Accumulated depreciation
(521)
(15)
Work in progress2
15,657
19,192
Total buildings
711,622
670,313
Leasehold improvements:
Fair value
289,995
265,581
Accumulated depreciation
(121,876)
(95,811)
Work in progress
15,674
42,802
Total leasehold improvements
183,793
212,572
Total land and buildings
1,816,881
1,750,725
1 This includes assets held for sale as follows:
2011-12: One property (Former Chancery in Phnom Penh, Cambodia) has been classified as an Asset Held for Sale. Total value is $1,599,307.
2010-11: One property (a residence in Noumea) was classified as Asset Held for Sale. The total value was $760,056.
2 This is a qualifying asset and includes foreign exchange gains and losses that have been capitalised.
Isolated indicators of impairment worth $1,034,000 (2011: nil) were found for land and buildings.
Note 6B: Infrastructure, Plant and Equipment
Infrastructure, Plant and Equipment:
Fair value
181,737
182,316
Accumulated depreciation
(59,680)
(55,555)
Work in progress
29,502
14,672
Total infrastructure, plant and equipment
151,559
141,433
No plant and equipment was held by the Department under finance leases.
Isolated indicators of impairment worth $4,040 (2011: $9,628) were found for Infrastructure, plant and equipment.
Infrastructure, plant or equipment expected to be sold or disposed of within the next 12 months has a net book value of $270,733 (2010-11: Nil).
Revaluations of non-financial assets
All revaluations are conducted in accordance with the revaluation policy stated at Note 1. Land and buildings have been independently valued by Savills as at 30 June 2012. Infrastructure, plant and equipment have been independently valued by RHAS as at 31 March 2012.
Revaluation increments of $54,412,000 for land (2011: decrements of $42,638,000) and increments of $2,946,000 for buildings (2011: decrements of $48,891,000), impairment decrements of nil of leasehold improvements (2011: decrements of nil) and revaluation increments of $5,642,652 for infrastructure, plant and equipment (2011: increments of $1,199,000) were made to the asset revaluation reserve.

Revaluation increments of $16,691,000 for buildings (2011: decrements of $16,691,000) and revaluation increments of $nil for infrastructure, plant and equipment (2011: increments of $29,000) were recognised in the profit and loss.
Restrictions on title
Due to the diplomatic nature of the overseas property portfolio, some properties have restriction on title. Restrictions on title vary depending on local government rules and regulations, such as one long term title that prohibits the Commonwealth of Australia from profiting from sale of the land.

 

Note 6C: Reconciliation of the Opening and Closing Balances of Infrastructure, Plant and Equipment 2012
Land
Buildings
Total land and buildings
Infrastructure, plant & equipment
Total
$’000
$’000
$’000
$’000
$’000
As at 1 July 2011
Gross book value
867,840
916,717
1,784,557
182,316
1,966,873
Accumulated depreciation and impairment
-
(95,826)
(95,826)
(55,555)
(151,381)
Work in progress
-
61,994
61,994
14,672
76,666
Net book value 1 July 2011
867,840
882,885
1,750,725
141,433
1,892,158
Additions:
By purchase
156
39,246
39,402
21,550
60,952
By finance lease
-
-
-
-
-
By donation/gift
-
-
-
-
-
From acquisition of entities or operations (including restructuring)
-
-
-
-
-
Revaluations and impairments recognised in other comprehensive income
54,412
2,946
57,358
5,643
63,001
Revaluations recognised in the operating result
-
16,691
16,691
-
16,691
Impairments recognised in the operating result
(229)
(805)
(1,034)
(4)
(1,038)
Reversal of impairments recognised in the operating result
-
-
-
-
-
Assets held for sale or in a disposal group held for sale
1,494
105
1,599
-
1,599
Depreciation expense
-
(50,064)
(50,064)
(36,278)
(86,342)
Other movements
-
Asset transfers
-
35,425
35,425
7,577
43,002
Movement in work in progress
Reclassification of opening balance in work in progress
-
-
-
-
-
Net movement in work in progress
-
(30,663)
(30,663)
14,830
(15,833)
Disposals:
From disposal of entities or operations (including restructuring)
-
-
-
-
-
Other
(2,207)
(351)
(2,558)
(3,192)
(5,750)
Net book value 30 June 2012
921,466
895,415
1,816,881
151,559
1,968,440
Net book value as of 30 June 2012 represented by:
Gross book value
921,466
986,481
1,907,947
181,737
2,089,684
Accumulated depreciation and impairment
-
(122,397)
(122,397)
(59,680)
(182,077)
Work in progress
-
31,331
31,331
29,502
60,833
921,466
895,415
1,816,881
151,559
1,968,440

 

Note 6C (Cont'd): Reconciliation of the Opening and Closing Balances of Infrastructure, Plant and Equipment 2011
Land
Buildings
Total land and buildings
Infrastructure, plant & equipment
Total
$’000
$’000
$’000
$’000
$’000
As at 1 July 2010
Gross book value
916,330
972,135
1,888,465
174,574
2,063,039
Accumulated depreciation and impairment
-
(67,243)
(67,243)
(44,218)
(111,461)
Work in progress
-
39,762
39,762
12,410
52,172
Net book value 1 July 2010
916,330
944,654
1,860,984
142,766
2,003,750
Additions:
By purchase or internally developed
86
29,865
29,951
21,847
51,798
By finance lease
-
-
-
-
-
By donation/gift
-
-
-
-
-
From acquisition of entities or operations (including restructuring)
-
-
-
-
-
Revaluations and impairments recognised in other comprehensive income
(42,638)
(48,890)
(91,528)
1,199
(90,329)
Revaluations recognised in the operating result
-
(16,691)
(16,691)
29
(16,662)
Impairments recognised in the operating result
-
-
-
(10)
(10)
Reversal of impairments recognised in the operating result
-
-
-
-
-
Assets held for sale or in a disposal group held for sale
713
47
760
-
760
Depreciation expense
-
(53,005)
(53,005)
(35,232)
(88,237)
Other movements
Asset transfers
-
9,635
9,635
10,042
19,677
Movements in work in progress
Reclassification of opening balance in work in progress
-
548
548
(3,460)
(2,912)
Net movement in work in progress
-
21,684
21,684
5,722
27,406
Disposals:
From disposal of entities or operations (including restructuring)
-
-
-
-
-
Other
(6,651)
(4,962)
(11,613)
(1,470)
(13,083)
Net book value 30 June 2011
867,840
882,885
1,750,725
141,433
1,892,158
Net book value as of 30 June 2011 represented by:
Gross book value
867,840
916,717
1,784,557
182,316
1,966,873
Accumulated depreciation and impairment
-
(95,826)
(95,826)
(55,555)
(151,381)
Work in progress
-
61,994
61,994
14,672
76,666
867,840
882,885
1,750,725
141,433
1,892,158

 

2012
2011
$’000
$’000
Note 6D: Intangibles
Computer software:
Internally developed – in progress
5,259
6,561
Internally developed – in use
32,518
32,518
Purchased
60,396
32,855
Accumulated amortisation
(40,479)
(35,706)
Total computer software
57,694
36,228
Total intangibles
57,694
36,228
No indicators of impairment were found for intangible assets.
No intangibles are expected to be sold or disposed of within the next 12 months.

 

Note 6E: Reconciliation of the Opening and Closing Balances of Intangibles 2012
Computer software internally developed
Computer software purchased
Total
$’000
$’000
$’000
As at 1 July 2011
Gross book value
32,518
22,713
55,231
Accumulated amortisation and impairment
(23,963)
(11,743)
(35,706)
Work in Progress
6,561
10,142
16,703
Net book value 1 July 2011
15,116
21,112
36,228
Additions:
By purchase or internally developed
-
4,034
4,034
By finance lease
-
-
-
By donation/gift
-
-
-
From acquisition of entities or operations (including restructuring)
-
-
-
Revaluations and impairments recognised in other comprehensive income
-
-
-
Revaluations and impairments recognised in the operating result
-
-
-
Reversal of impairments recognised in the operating result
-
-
-
Amortisation
(1,119)
(4,126)
(5,245)
Other movements
Asset transfers
-
5,984
5,984
Movements in work in progress
Reclassification of opening balance in work in progress
-
-
-
Net movement in work in progress
(1,302)
21,403
20,101
Disposals:
From disposal of entities or operations (including restructuring)
-
-
-
Other
-
(3,408)
(3,408)
Net book value 30 June 2012
12,695
44,999
57,694
Net book value as of 30 June 2012 represented by:
Gross book value
32,518
28,851
61,369
Accumulated amortisation and impairment
(25,082)
(15,397)
(40,479)
Work in progress
5,259
31,545
36,804
12,695
44,999
57,694

 

Note 6E (Cont'd): Reconciliation of the Opening and Closing Balances of Intangibles 2011
Computer software internally developed
Computer software purchased
Total
$’000
$’000
$’000
As at 1 July 2010
Gross book value
28,769
16,048
44,817
Accumulated amortisation and impairment
(21,620)
(9,673)
(31,293)
Work in progress
4,178
3,445
7,623
Net book value 1 July 2010
11,327
9,820
21,147
Additions:
By purchase or internally developed
1,716
3,031
4,747
By finance lease
-
-
-
By donation/gift
-
-
-
From acquisition of entities or operations (including restructuring)
-
-
-
Revaluations and impairments recognised in other comprehensive income
-
-
-
Revaluations and impairments recognised in the operating result
-
-
-
Reversal of impairments recognised in the operating result
-
-
-
Amortisation
(2,343)
(2,411)
(4,754)
Other movements [give details below]
Asset transfers
2,033
4,099
6,132
Movements in work in progress
Reclassification of opening balance in work in progress
559
2,353
2,912
Net movement in work in progress
1,824
4,344
6,168
Disposals:
From disposal of entities or operations (including restructuring)
-
-
-
Other
-
(124)
(124)
Net book value 30 June 2011
15,116
21,112
36,228
Net book value as of 30 June 2011 represented by:
Gross book value
32,518
22,713
55,231
Accumulated amortisation and impairment
(23,963)
(11,743)
(35,706)
Work in progress
6,561
10,142
16,703
15,116
21,112
36,228

 

2012
2011
$’000
$’000
Note 6F: Inventories
Inventories held for sale:
Finished goods
41,843
40,174
Total inventories held for sale
41,843
40,174
Inventories held for distribution
133
64
Total inventories
41,976
40,238
No items of inventory were recognised at fair value less cost to sell.
All inventories are expected to be sold or distributed in the next 12 months.
Note 6G: Other Non-Financial Assets
Property leases
15,571
16,425
Other
11,475
11,107
Total other non-financial assets
27,046
27,532
Total other non-financial assets:
No more than 12 months
22,705
21,701
More than 12 months
4,341
5,831
Total other non-financial assets
27,046
27,532
No indicators of impairment were found for other non-financial assets.

Department of Foreign Affairs and Trade