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IP Australia Annual Report 2020-21

Statement of Comprehensive Income

		2021	2020	Original Budget¹
		$'000	$'000	$'000
NET COST OF SERVICES
Expenses
Employee benefits	1.1A	130,659	134,996	130,079
Suppliers	1.1B	42,581	42,159	44,081
Depreciation and amortisation	2.2A	31,908	32,347	33,637
Finance costs	1.1C	1,847	1,976	1,851
Write-down and impairment of assets	2.2A	1,155	19	0
Losses from non-financial assets revaluation	2.2A	388	0	0
Losses from asset sales		0	3	0
Total expenses		208,538	211,500	209,648
Own-Source Income
Own-source revenue
Revenue from contracts with customers	1.2A	231,197	201,566	203,378
Resources received free of charge	1.2B	178	158	160
Rental income	1.2C	749	68	752
Total own-source revenue		232,124	201,792	204,290
Gains
Gains from sale of assets - Plant and equipment		23	0	0
Total gains		23	0	0
Total own-source income		232,147	201,792	204,290
Net (cost of)/contribution by services		23,609	(9,708)	(5,358)
Revenue from Government		358	362	358
Surplus/(Deficit) attributable to the Australian Government		23,967	(9,346)	(5,000)
OTHER COMPREHENSIVE INCOME
Items not subject to subsequent reclassification to net cost of services
Changes in asset revaluation reserve		1,003	0	0
Total other comprehensive income		1,003	0	0
Total comprehensive income/(loss) attributable to the Australian Government		24,970	(9,346)	(5,000)

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

¹ Budget reported in the 2020-21 Portfolio Budget Statements published in October 2020.

Explanations of major variances are provided in Note 1.

https://www.transparency.gov.au/annual-reports/ip-australia/reporting-year/2020-21-41