Qantas 2009 Annual Report Download - page 129

Download and view the complete annual report

Please find page 129 of the 2009 Qantas annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 164

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164

127 Qantas Annual Report 2009
Notes to the Financial Statements
for the year ended 30 June 2009
27. Acquisitions and Disposals of Controlled Entities continued
(D) ACQUISITIONS – FINANCIAL SUMMARY
ThetablebelowsummarisestheimpactofmaterialacquisitionsontheQantasGroup’snancialstatementsattherespectivedatesofacquisition:
Qantas
Jetset Travelworld Group Jetstar Asia Group Group
Fair Fair
2009 Carrying value Fair Carrying value Fair Fair
$M values adjust value values adjust value value
Considerationpaid,includingtransactioncosts – – 7 – – 61 68
Less:cashacquired (29) – (29) (49) – (49) (78)
Payments for controlled entities,
net of cash acquired (22) 12 (10)
Net assets acquired
Receivables 21 – 21 16 – 16 37
Investmentsaccountedforusingtheequitymethod – – – (19) – (19) (19)
Goodwill – 66 66 – 46 46 112
Intangibleassets – 74 74 – 24 24 98
Othercurrentandnon-currentassets 3 – 3 17 – 17 20
Payables (27) – (27) (32) – (32) (59)
Provisions (11) – (11) (14) – (14) (25)
Revenuereceivedinadvance – – – (26) – (26) (26)
Deferredtaxliabilities (1) (22) (23) – – – (23)
Minorityinterest – (39) (39) – – – (39)
Net assets acquired (15) 79 64 (58) 70 12 76
Gainondisposalof42percentofQantasHolidays  (86) – (86)
(22) 12 (10)
(E) DISPOSAL – LTQ ENGINEERING PTY LIMITED
On1July2008,theQantasGroupdisposedof50percentofitsinterestinLTQEngineeringPtyLimited(formerlyJetTurbineServicesPtyLimited)which
ceasedtobeacontrolledentityonthatdateandbecameajointlycontrolledentity.TherewerenomaterialeffectsofthistransactionontheQantas
Group’snancialposition.
28. Commitments
Qantas Group Qantas
2009 2008 2009 2008
$M $M $M $M
IncludedintheFinancialStatementsasnanceleaseandhire
purchaseliabilitiesarethepresentvaluesoffuturerentalsofthefollowing:   
Aircraft and engines 633 606 3,584 1,985
Payable
Not later than one year 171 84 545 337
Laterthanoneyearbutnotlaterthanveyears 346 272 2,031 1,346
Later than five years 180 354 1,818 693
697 710 4,394 2,376
Less: future lease and hire purchase finance charges 64 104 810 391
633 606 3,584 1,985
Finance lease and hire purchase liabilities provided
for in the Financial Statements
Currentliability(referNote21)   
–controlledentities – – 266 177
–otherparties 164 67 164 67
Non-currentliability(referNote21)   
–controlledentities – – 2,685 1,202
–otherparties 469 539 469 539
633 606 3,584 1,985
TheQantasGroupleasesaircraftandplantandequipmentundernanceleaseswithexpirydatesbetweenoneand12years.Mostnanceleasescontain
purchaseoptionsexercisableattheendoftheleaseterm.TheQantasGrouphastherighttonegotiateextensionsonmostleases.
(A) FINANCE LEASE AND HIRE PURCHASE COMMITMENTS