Qantas 2014 Annual Report Download - page 88

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86
QANTAS ANNUAL REPORT 2014
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 30 JUNE 2014
16. INTANGIBLE ASSETS
Qantas Group
$M
2014 2013
At Cost
Accumulated
Depreciation
and Impairment
Net Book
Value At Cost
Accumulated
Depreciation
and Impairment Net Book Value
Goodwill 195 –195 197 –197
Airport landing slots 35 –35 35 –35
Software 1,048 573 475 950 512 438
Brand names and trademarks 22 –22 22 –22
Customer contracts/relationships 27 13 14 27 522
Total intangible assets 1,327 586 741 1,231 517 714
Qantas Group
2014
$M
Opening Net
Book Value Additions
Acquisition
of Controlled
Entity Transfers1Amortisation Other2
Closing Net
Book Value
Reconciliations
Goodwill 197 – – – – (2) 195
Airport landing slots 35 – – – – – 35
Software 438 99 –11 (63) (10) 475
Brand names and trademarks 22 – – – – – 22
Customer contracts/relationships 22 – – – (8) –14
Total intangible assets 714 99 –11 (71) (12) 741
2013
$M
Reconciliations
Goodwill 146 –49 – – 2 197
Airport landing slots 35 – – – – – 35
Software 405 112 8 – (63) (24) 438
Brand names and trademarks 20 – – – – 2 22
Customer contracts/relationships 4 – 22 –(4) –22
Total intangible assets 610 112 79 –(67) (20) 714
1 Includes transfers between categories of intangible assets and transfers to other balance sheet accounts.
2 Other includes foreign exchange movements and impairment of intangible assets of $9million (2013: $24million).
17. DEFERRED TAX ASSETS/(LIABILITIES) Qantas Group
2014
$M
2013
Restated1
$M
Deferred tax assets/(liabilities) 548 (625)
Total deferred tax assets/(liabilities) 548 (625)
1 Restatement for the impact of revised AASB 119 relating to defined benefit superannuation plans. Refer to Note 38.
Qantas Group
2014
$M
Opening
Balance
Recognised in
the Consolidated
Income Statement
Recognised
in Other
Comprehensive
Income
Acquisition
of Controlled
Entity
Closing
Balance
Reconciliations
Inventories (16) 1 – – (15)
Property, plant and equipment and intangible assets (1,856) 708 – – (1,148)
Payables 38 (13) – – 25
Revenue received in advance 639 35 – – 674
Interest-bearing liabilities (83) (2) – – (85)
Other financial assets/liabilities (99) (32) 86 – (45)
Provisions 335 14 – – 349
Other items (138) 5(46) –(179)
Tax value of recognised tax losses1555 417 – – 972
Total deferred tax assets/(liabilities) (625) 1,133 40 –548
1 A deferred tax asset of $548million has been recognised for income tax losses. Based on management forecast of taxable profit and the reversal of taxable temporary differences the
Group considers it probable this deferred tax asset will be recovered.