Statements
Statement of comprehensive income
For the period ended 30 June 2019
Consolidated |
CSIRO |
||||
---|---|---|---|---|---|
2019 |
2018 |
2019 |
2018 |
||
NET COST OF SERVICES |
Notes |
$'000 |
$'000 |
$'000 |
$'000 |
Expenses |
|||||
Employee benefits |
763,169 |
699,295 |
760,029 |
697,888 |
|
Suppliers |
482,954 |
443,153 |
483,718 |
447,790 |
|
Depreciation and amortisation |
148,019 |
181,609 |
147,861 |
181,455 |
|
Finance leases |
1,430 |
1,562 |
1,403 |
1,547 |
|
Impairment allowance on financial instruments |
536 |
1,093 |
536 |
684 |
|
Write-down and impairment of other assets |
13 |
5,910 |
13 |
5,910 |
|
Losses from asset sales |
2,847 |
15,087 |
2,847 |
15,087 |
|
Total expenses |
1,398,968 |
1,347,709 |
1,396,407 |
1,350,361 |
|
Own-Source Income |
|||||
Own-source revenue |
|||||
Sale of goods and rendering of services |
410,432 |
384,554 |
435,475 |
405,190 |
|
Bank and term deposits interest |
13,501 |
10,572 |
10,536 |
7,944 |
|
Rental income |
10,546 |
11,001 |
10,546 |
11,001 |
|
Royalties and licence fees |
34,427 |
43,175 |
34,427 |
43,175 |
|
Other revenues |
28,961 |
35,864 |
25,453 |
31,832 |
|
Sale of investments and intellectual property |
12,094 |
1,943 |
11,498 |
- |
|
Total own-source revenue |
509,961 |
487,109 |
527,935 |
499,142 |
|
Gains |
|||||
Gain on recognition of assets |
- |
66 |
- |
66 |
|
Gain/(loss) on foreign exchange- non-speculative |
117 |
(828) |
238 |
(746) |
|
Gain/(loss) on revaluation of investment properties |
2,375 |
(1,413) |
2,375 |
(1,413) |
|
Gain/(loss) on valuation of equity investments |
14,660 |
- |
(1,497) |
- |
|
Total gains |
17,152 |
(2,175) |
1,116 |
(2,093) |
|
Total own-source income |
527,113 |
484,934 |
529,051 |
497,049 |
|
Net cost of services |
(871,855) |
(862,775) |
(867,356) |
(853,312) |
|
Revenue from Government |
834,561 |
793,549 |
834,561 |
793,549 |
|
Surplus/(deficit) |
(37,294) |
(69,226) |
(32,795) |
(59,763) |
|
OTHER COMPREHENSIVE INCOME |
|||||
Items not subject to subsequent reclassification to net cost of services - change in asset revaluation reserves |
30,943 |
110,554 |
30,943 |
110,554 |
|
Items subject to subsequent reclassification to net cost of services - change in other reserves |
(15,256) |
9,853 |
(5,982) |
5,617 |
|
Total other comprehensive income |
15,687 |
120,407 |
24,961 |
116,171 |
|
Total comprehensive income/(loss) |
(21,607) |
51,181 |
(7,834) |
56,408 |
|
Profit for the year is attributable to: |
|||||
Non-controlling interest |
4,316 |
- |
- |
- |
|
CSIRO |
(41,610) |
(69,226) |
(32,795) |
(59,763) |
|
Total surplus/(deficit) |
(37,294) |
(69,226) |
(32,795) |
(59,763) |
|
Total comprehensive income for the year is attributable to: |
|||||
Non-controlling interest |
4,316 |
- |
- |
- |
|
CSIRO |
(25,923) |
51,181 |
(7,834) |
56,408 |
|
Total comprehensive income/(loss) |
(21,607) |
51,181 |
(7,834) |
56,408 |
The above Statement should be read in conjunction with the accompanying notes.
Statement of financial position
As at 30 June 2019
Consolidated |
CSIRO |
||||
---|---|---|---|---|---|
2019 |
2018 |
2019 |
2018 |
||
Notes |
$'000 |
$'000 |
$'000 |
$'000 |
|
ASSETS |
|||||
Financial Assets |
|||||
Cash and cash equivalents |
320,075 |
321,647 |
198,829 |
183,974 |
|
Trade and other receivables |
76,295 |
84,165 |
72,486 |
80,801 |
|
Other investments |
145,805 |
77,516 |
125,335 |
98,714 |
|
Total financial assets |
542,175 |
483,328 |
396,650 |
363,489 |
|
Non-Financial Assets |
|||||
Land and buildings |
1,564,162 |
1,625,607 |
1,564,162 |
1,625,607 |
|
Heritage and cultural |
4,463 |
4,463 |
4,463 |
4,463 |
|
Plant and equipment |
563,342 |
548,632 |
563,143 |
548,296 |
|
Intangibles |
16,740 |
16,573 |
16,740 |
16,573 |
|
Investment properties |
52,072 |
49,697 |
52,072 |
49,697 |
|
Inventories |
1,265 |
1,440 |
1,265 |
1,440 |
|
Other non-financial assets |
50,060 |
44,295 |
50,152 |
44,271 |
|
Total non-financial assets |
2,252,104 |
2,290,707 |
2,251,997 |
2,290,347 |
|
Properties held for sale |
59,200 |
5,200 |
59,200 |
5,200 |
|
Total assets |
2,853,479 |
2,779,235 |
2,707,847 |
2,659,036 |
|
LIABILITIES |
|||||
Payables |
|||||
Suppliers |
72,519 |
83,844 |
72,695 |
82,112 |
|
Other payables |
151,602 |
142,332 |
145,239 |
136,361 |
|
Total payables |
224,121 |
226,176 |
217,934 |
218,473 |
|
Interest Bearing Liabilities |
|||||
Finance leases |
27,337 |
31,968 |
27,337 |
31,968 |
|
Deposits |
23,310 |
12,315 |
27,364 |
12,336 |
|
Total Interest bearing liabilities |
50,647 |
44,283 |
54,701 |
44,304 |
|
Provisions |
|||||
Employee provisions |
238,498 |
218,956 |
238,374 |
218,774 |
|
Provision for remediation |
41,020 |
29,815 |
41,020 |
29,815 |
|
Total provisions |
279,518 |
248,771 |
279,394 |
248,589 |
|
Total liabilities |
554,286 |
519,230 |
552,029 |
511,366 |
|
Net assets |
2,299,193 |
2,260,005 |
2,155,818 |
2,147,670 |
|
EQUITY |
|||||
Contributed equity |
300,954 |
290,954 |
300,646 |
290,646 |
|
Asset revaluation reserves |
1,523,229 |
1,492,286 |
1,523,229 |
1,492,286 |
|
Other reserves |
(27) |
15,229 |
- |
5,982 |
|
Retained surplus |
435,198 |
461,536 |
331,943 |
358,756 |
|
Non-controlling interest |
39,839 |
- |
- |
- |
|
Total equity |
2,299,193 |
2,260,005 |
2,155,818 |
2,147,670 |
The above Statement should be read in conjunction with the accompanying notes.
Statement of changes in equity – consolidated
For the period ended 30 June 2019
Retained earnings |
Asset revaluation reserve |
Other reserves |
Contributed equity/capital |
Non-controlling interest |
Total equity |
|||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
Opening balance |
461,536 |
530,762 |
1,492,286 |
1,381,732 |
15,229 |
5,376 |
290,954 |
280,954 |
- |
- |
2,260,005 |
2,198,824 |
Comprehensive income |
||||||||||||
15,272 |
- |
30,943 |
110,554 |
(15,256) |
9,853 |
- |
- |
- |
- |
30,959 |
120,407 |
|
Surplus/(deficit) for the period |
(41,610) |
(69,226) |
- |
- |
- |
- |
- |
- |
4,316 |
- |
(37,294) |
(69,226) |
Total comprehensive income/(loss) |
(26,338) |
(69,226) |
30,943 |
110,554 |
(15,256) |
9,853 |
- |
- |
4,316 |
- |
(6,335) |
51,181 |
Other movements |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Contributions by owners |
||||||||||||
Equity injection |
- |
- |
- |
- |
- |
- |
10,000 |
10,000 |
35,523 |
- |
45,523 |
10,000 |
Contributions by owners – other |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Closing balance |
435,198 |
461,536 |
1,523,229 |
1,492,286 |
(27) |
15,229 |
300,954 |
290,954 |
39,839 |
- |
2,299,193 |
2,260,005 |
The above Statement should be read in conjunction with the accompanying notes.
1. Refer to Note 1.3.
Accounting Policy
Equity Injections
Amounts that are designated as equity injections for a year are recognised directly in contributed equity in that year.
Non-controlling interests
Non-controlling interests refer to equity in a subsidiary that is not attributable (directly or indirectly) to CSIRO as parent. CSIRO holds a non-controlling interest in the CSIRO Innovation Fund.
Statement of changes in equity – CSIRO
For the period ended 30 June 2019
Retained earnings |
Asset revaluation reserve |
Other reserves |
Contributed equity/capital |
Non-controlling interest |
Total equity |
|||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
Opening balance |
358,756 |
418,519 |
1,492,286 |
1,381,732 |
5,982 |
365 |
290,646 |
280,646 |
- |
- |
2,147,670 |
2,081,262 |
Comprehensive income |
||||||||||||
5,982 |
- |
30,943 |
110,554 |
(5,982) |
5,617 |
- |
- |
- |
- |
30,943 |
116,171 |
|
Surplus/(deficit) for the period |
(32,795) |
(59,763) |
- |
- |
- |
- |
- |
- |
- |
- |
(32,795) |
(59,763) |
Total comprehensive income/(loss) |
(26,813) |
(59,763) |
30,943 |
110,554 |
(5,982) |
5,617 |
- |
- |
- |
- |
(1,852) |
56,408 |
Contributions by owners |
||||||||||||
Equity injection |
- |
- |
- |
- |
- |
- |
10,000 |
10,000 |
- |
- |
10,000 |
10,000 |
Contributions by owners – other |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Closing balance |
331,943 |
358,756 |
1,523,229 |
1,492,286 |
- |
5,982 |
300,646 |
290,646 |
- |
- |
2,155,818 |
2,147,670 |
The above Statement should be read in conjunction with the accompanying notes.
1. Refer to Note 1.3
Cash flow statement
For the period ended 30 June 2019
Consolidated |
CSIRO |
|||
---|---|---|---|---|
2019 |
2018 |
2019 |
2018 |
|
$'000 |
$'000 |
$'000 |
$'000 |
|
OPERATING ACTIVITIES |
||||
Cash received |
||||
Receipts from Government |
832,641 |
793,549 |
832,641 |
793,549 |
Sale of goods and rendering of services |
545,055 |
502,153 |
557,414 |
524,053 |
Interest |
13,841 |
9,833 |
10,967 |
7,468 |
Net GST received |
17,900 |
14,947 |
19,031 |
17,073 |
Deposits |
9,329 |
7,138 |
13,362 |
3,992 |
Total cash received |
1,418,766 |
1,327,620 |
1,433,415 |
1,346,135 |
Cash used |
||||
Employees |
742,886 |
697,537 |
739,716 |
696,223 |
Suppliers |
552,049 |
486,039 |
552,034 |
497,370 |
Finance costs |
1,430 |
1,562 |
1,403 |
1,547 |
Total cash used |
1,296,365 |
1,185,138 |
1,293,153 |
1,195,140 |
Net cash from operating activities |
122,401 |
142,482 |
140,262 |
150,995 |
INVESTING ACTIVITIES |
||||
Cash received |
||||
Proceeds from sales of property, plant and equipment |
967 |
5,090 |
988 |
5,074 |
Proceeds from sales of equity investments and intellectual property |
6,147 |
5,391 |
425 |
- |
Total cash received |
7,114 |
10,481 |
1,413 |
5,074 |
Cash used |
||||
Purchase of property, plant and equipment |
119,647 |
116,631 |
119,647 |
116,510 |
Equity investments |
52,250 |
18,696 |
12,492 |
10,800 |
Other selling costs |
82 |
69 |
50 |
69 |
Total cash used |
171,979 |
135,396 |
132,189 |
127,379 |
Net cash used in investing activities |
(164,865) |
(124,915) |
(130,776) |
(122,305) |
FINANCING ACTIVITIES |
||||
Cash received |
||||
Contributed equity |
45,523 |
10,000 |
10,000 |
10,000 |
Total cash received |
45,523 |
10,000 |
10,000 |
10,000 |
Cash used |
||||
Finance leases |
4,631 |
5,787 |
4,631 |
5,787 |
Total cash used |
4,631 |
5,787 |
4,631 |
5,787 |
Net cash from financing activities |
40,892 |
4,213 |
5,369 |
4,213 |
Net increase (decrease) in cash held |
(1,572) |
21,780 |
14,855 |
32,903 |
Cash and cash equivalents at the beginning of the reporting period |
321,647 |
299,867 |
183,974 |
151,071 |
Cash and cash equivalents at the end of the reporting period |
320,075 |
321,647 |
198,829 |
183,974 |
The above Statement should be read in conjunction with the accompanying notes.
Visit
https://www.transparency.gov.au/annual-reports/commonwealth-scientific-and-industrial-research-organisation/reporting-year/2018-2019-43