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Statements

CSIRO signed financial statements

Statement of comprehensive income

Consolidated

CSIRO

2020

2019

2020

2019

NET COST OF SERVICES

Notes

$'000

$'000

$'000

$'000

Expenses

Employee benefits

1.1A

794,602

763,169

792,351

760,029

Suppliers

1.1B

433,420

482,954

427,919

483,718

Depreciation and amortisation

2.2A

182,830

148,019

182,233

147,861

Finance costs

1.1C

2,707

1,430

2,666

1,403

Impairment loss on financial instruments

1.1D

1,304

536

895

536

Write-down and impairment of other assets

1.1E

12,188

13

12,188

13

Loss on revaluation of investment properties

2,700

(2,375)

2,700

(2,375)

Total expenses

1,429,751

1,393,746

1,420,952

1,391,185

Own-Source Income

Own-source revenue

Revenue from contracts with customers

1.2A

449,419

-

462,735

-

Sale of goods and rendering of services

1.2A

410,432

435,475

Royalties and licence fees

1.2A

-

34,427

-

34,427

Bank and term deposits interest

1.2B

5,772

13,501

4,251

10,536

Rental income

1.2C

9,200

10,546

9,200

10,546

Other revenues

1.2D

34,708

28,961

25,167

25,453

Total own-source revenue

499,099

497,867

501,353

516,437

Gains

Gain/(loss) on foreign exchange- non-speculative

1.2E

383

117

(394)

238

Gain/(loss) from equity investments and intellectual property

2,032

12,094

1,580

11,498

Gain/(loss) from asset sales

1.2F

29,662

(2,847)

29,662

(2,847)

Gain/(loss) on valuation of equity investments

4.2B

101,503

14,660

43,915

(1,497)

Total gains

133,580

24,024

74,763

7,392

Total own-source income

632,679

521,891

576,116

523,829

Net cost of services

(797,072)

(871,855)

(844,836)

(867,356)

Revenue from Government

1.2G

837,873

834,561

837,873

834,561

Surplus/(deficit)

40,801

(37,294)

(6,963)

(32,795)

OTHER COMPREHENSIVE INCOME

Items not subject to subsequent reclassification to net cost of services - change in asset revaluation reserves

1.3A

-

30,943

-

30,943

Items subject to subsequent reclassification to net cost of services - change in other reserves

1.3B

(176)

(15,256)

-

(5,982)

Total other comprehensive income

(176)

15,687

-

24,961

Total comprehensive income/(loss)

40,625

(21,607)

(6,963)

(7,834)

Profit for the year is attributable to:

Non-controlling interest

18,994

4,316

-

-

CSIRO

21,807

(41,610)

(6,963)

(32,795)

Total surplus/(deficit)

40,801

(37,294)

(6,963)

(32,795)

Total comprehensive income for the year is attributable to:

Non-controlling interest

18,994

4,316

-

-

CSIRO

21,631

(25,923)

(6,963)

(7,834)

Total comprehensive income/(loss)

40,625

(21,607)

(6,963)

(7,834)

The above Statement should be read in conjunction with the accompanying notes.

Statement of financial position

Consolidated

CSIRO

2020

2019

2020

2019

Notes

$'000

$'000

$'000

$'000

ASSETS

Financial Assets

Cash and cash equivalents

2.1A

403,496

320,075

302,619

198,829

Trade and other receivables

2.1B

88,945

76,295

89,936

72,486

Other investments

2.1C

304,490

145,805

177,467

125,335

Total financial assets

796,931

542,175

570,022

396,650

Non-Financial Assets1

Land and buildings

2.2A

1,608,249

1,564,162

1,606,931

1,564,162

Heritage and cultural

2.2A

4,463

4,463

4,463

4,463

Plant and equipment

2.2A

559,183

563,342

559,009

563,143

Intangibles

2.2A

13,650

16,740

13,650

16,740

Investment properties

2.2B

49,373

52,072

49,373

52,072

Inventories

1,420

1,265

1,420

1,265

Other non-financial assets

2.2C

18,748

50,060

18,803

50,152

Total non-financial assets

2,255,086

2,252,104

2,253,649

2,251,997

Properties held for sale

5,200

59,200

5,200

59,200

Total assets

3,057,217

2,853,479

2,828,871

2,707,847

LIABILITIES

Payables

Suppliers

2.3A

215,021

72,519

210,200

72,695

Other payables

2.3B

17,796

151,602

18,601

145,239

Total payables

232,817

224,121

228,801

217,934

Interest Bearing Liabilities

Lease liabilities

2.4A

116,740

27,337

115,371

27,337

Deposits

2.4B

22,508

23,310

25,588

27,364

Total Interest bearing liabilities

139,248

50,647

140,959

54,701

Provisions

Employee provisions

3.1A

262,913

238,498

262,729

238,374

Provision for remediation

40,457

41,020

40,457

41,020

Total provisions

303,370

279,518

303,186

279,394

Total liabilities

675,435

554,286

672,946

552,029

Net assets

2,381,782

2,299,193

2,155,925

2,155,818

EQUITY

Contributed equity

310,954

300,954

310,646

300,646

Asset revaluation reserves

1,523,229

1,523,229

1,523,229

1,523,229

Other reserves

(203)

(27)

-

-

Retained surplus

455,993

435,198

322,050

331,943

Non-controlling interest

91,809

39,839

-

-

Total equity

2,381,782

2,299,193

2,155,925

2,155,818

The above Statement should be read in conjunction with the accompanying notes.

1Right-of-use assets are included in Land and buildings and Plant and equipment.

Statement of changes in equity – consolidated

Retained earnings

Asset revaluation reserve

Other reserves

Contributed equity/capital

Non-controlling interest

Total equity

2020

2019

2020

2019

2020

2019

2020

2019

2020

2019

2020

2019

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

Opening 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

Adjustment on initial application of AASB 15/AASB 1058

(1,012)

-

-

-

-

-

-

-

-

-

(1,012)

-

Adjustment on initial application of AASB 16

-

-

-

-

-

-

-

-

-

-

-

-

Adjusted opening balance

434,186

461,536

1,523,229

1,492,286

(27)

15,229

300,954

290,954

39,839

-

2,298,181

2,260,005

Comprehensive income

Other comprehensive income1

-

15,272

-

30,943

(176)

(15,256)

-

-

-

-

(176)

30,959

Surplus/(deficit) for the period

21,807

(41,610)

-

-

-

-

-

-

18,994

4,316

40,801

(37,294)

Total comprehensive income/(loss)

21,807

(26,338)

-

30,943

(176)

(15,256)

-

-

18,994

4,316

40,625

(6,335)

Other movements

-

-

-

-

-

-

-

-

-

-

-

-

Contributions by owners

Equity injection

-

-

-

-

-

-

10,000

10,000

32,976

35,523

42,976

45,523

Contributions by owners – other

-

-

-

-

-

-

-

-

-

-

-

-

Closing balance

455,993

435,198

1,523,229

1,523,229

(203)

(27)

310,954

300,954

91,809

39,839

2,381,782

2,299,193

The above Statement should be read in conjunction with the accompanying notes.

1Refer 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 recognises non-controlling interests in the CSIRO Innovation Fund subsidiary entities.

Statement of changes in equity – CSIRO

Retained earnings

Asset revaluation reserve

Other reserves

Contributed equity/capital

Non-controlling interest

Total equity

2020

2019

2020

2019

2020

2019

2020

2019

2020

2019

2020

2019

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

Opening balance

331,943

358,756

1,523,229

1,492,286

-

5,982

300,646

290,646

-

-

2,155,818

2,147,670

Adjustment on initial application of AASB 15/AASB 1058

(2,930)

-

-

-

-

-

-

-

-

-

(2,930)

-

Adjustment on initial application of AASB 16

-

-

-

-

-

-

-

-

-

-

-

-

Adjusted opening balance

329,013

358,756

1,523,229

1,492,286

-

5,982

300,646

290,646

-

-

2,284,709

2,147,670

Comprehensive income

Other comprehensive income1

-

5,982

-

30,943

-

(5,982)

-

-

-

-

-

30,943

Surplus/(deficit) for the period

(6,963)

(32,795)

-

-

-

-

-

-

-

-

(6,963)

(32,795)

Total comprehensive income/(loss)

(6,963)

(26,813)

-

30,943

-

(5,982)

-

-

-

-

(6,963)

(1,852)

Other movements

-

-

-

-

-

-

-

-

-

-

-

-

Contributions by owners

Equity injection

-

-

-

-

-

-

10,000

10,000

-

-

10,000

10,000

Contributions by owners – other

-

-

-

-

-

-

-

-

-

-

-

-

Closing balance

322,050

331,943

1,523,229

1,523,229

-

-

310,646

300,646

-

-

2,155,925

2,155,818

The above Statement should be read in conjunction with the accompanying notes.

1Refer 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 recognises non-controlling interests in the CSIRO Innovation Fund subsidiary entities.

Cash flow statement

Consolidated

CSIRO

2020

2019

2020

2019

$'000

$'000

$'000

$'000

OPERATING ACTIVITIES

Cash received

Receipts from Government

837,873

832,641

837,873

832,641

Sale of goods and rendering of services

573,857

545,055

571,706

557,414

Interest

6,563

13,841

4,676

10,967

Net GST received

21,203

17,900

21,235

19,031

Deposits

-

9,329

-

13,362

Total cash received

1,439,496

1,418,766

1,435,490

1,433,415

Cash used

Employees

765,251

742,886

763,146

739,716

Suppliers

520,701

552,049

513,555

552,034

Interest payments on lease liabilities

2,585

-

2,573

-

Finance costs

122

1,430

93

1,403

Deposits

799

-

1,773

-

Total cash used

1,289,458

1,296,365

1,281,140

1,293,153

Net cash from operating activities

150,038

122,401

154,350

140,262

INVESTING ACTIVITIES

Cash received

Proceeds from sales of property, plant and equipment

90,547

967

90,547

988

Proceeds from sales of equity investments and intellectual property

6,842

6,147

6,390

425

Total cash received

97,389

7,114

96,937

1,413

Cash used

Purchase of property, plant and equipment

103,765

119,647

103,634

119,647

Equity investments

61,907

52,250

12,942

12,492

Other selling costs

1,397

82

1,397

50

Total cash used

167,069

171,979

117,973

132,189

Net cash used in investing activities

(69,680)

(164,865)

(21,036)

(130,776)

FINANCING ACTIVITIES

Cash received

Contributed equity

42,976

45,523

10,000

10,000

Total cash received

42,976

45,523

10,000

10,000

Cash used

Finance leases

-

4,631

-

4,631

Principal payments of lease liabilities

39,913

-

39,524

-

Total cash used

39,913

4,631

39,524

4,631

Net cash from financing activities

3,063

40,892

(29,524)

5,369

Net increase (decrease) in cash held

83,421

(1,572)

103,790

14,855

Cash and cash equivalents at the beginning of the reporting period

320,075

321,647

198,829

183,974

Cash and cash equivalents at the end of the reporting period

403,496

320,075

302,619

198,829

The above Statement should be read in conjunction with the accompanying notes.