Telstra 2011 Annual Report Download - page 138

Telstra Corporation Limited and controlled entities
123
Notes to the Financial Statements (continued)
At 30 June 2011 we were committed to dispose of our 64.4%
shareholding in Adstream (Aust) Pty Ltd (Adstream). The disposal
was subsequently completed on 21 July 2011. Refer to note 31 for
further details. In accordance with AASB 5: “Non-current Assets
Held for Sale and Discontinued Operations” the carrying value of
assets and liabilities of Adstream have been classified as held for
sale as at 30 June 2011.
On 1 December 2009, the shareholders of SouFun decided to
commence a process to prepare SouFun for an offer of the shares
in that company to the public. At that time, we announced that we
intended to sell down our shareholding as part of the process. As
at 30 June 2010, the carrying value of assets and liabilities of
SouFun were classified as held for sale. On 17 September 2010,
we sold our shareholding in SouFun and therefore disposed of the
carrying value of assets and liabilities of SouFun, which were
classified as held for sale up to the date of disposal. Refer to note
20 for further details on this disposal.
Adstream is included in the Sensis reportable segment and SouFun
is included in the All Other segment category in our segment
information disclosures in note 5.
12. Non current assets held for sale
Telstra Group
As at 30 June
2011 2010
Note $m $m
Current assets
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 7169
Trade and other receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 345
Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -8
Current tax receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -1
Prepayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -2
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 225
Non current assets
Property, plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 17
Intangible assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 29 347
Deferred tax assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-
Total non current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 354
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 579
Current liabilities
Trade and other payables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 238
Provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Current tax liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112
Revenue received in advance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -33
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 484
Non current liabilities
Deferred tax liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Total non current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 589
Net assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 490