Caltex Australia Limited

Statements of Movements in Equity

31st December
Thousands of dollars
Balance at 1st January
Total comprehensive income for the year
(Loss)/profit for the period
Total other comprehensive (expense)/income
Total Comprehensive (expense)/income for the year
Foreign currency translation differences for foreign operations
Own shares acquired
Shares vested to employees
Expense on equity settled transactions
Dividends to shareholders
Balance at 31 December

2014

2013

2012

2011

$'000

$'000

$'000

$'000

2,597,032

2,159,579

2,218,075

3,082,596

22,670
14,710
37,380
(8,971)
0
7,050
(99,900)
2,532,591

528,757
31,589
560,346
(240)
(21,434)
0
8,181
(109,400)
2,597,032

57,601
2,190
59,791
0
(4,353)
0
8,566
(122,500)
2,159,579

(713,221)
(27,013)
(740,234)
0
(3,629)
0
6,242
(126,900)
2,218,075

2014

2013

2012

2011

$'000

$'000

$'000

$'000

53,122
837,672
1,118,084
56,704
33,754
2,099,336

199,922
988,533
2,027,857
35,416
3,251,728

209,929
1,047,434
1,651,509
39,802
2,948,674

1,818
1,001,490
1,717,732
35,862
2,756,902

3,246
24,181
3

3,048
23,863
3

2,207
24,157
3

1,566
23,573
3

Caltex Australia Limited

Balance Sheets
31st December

Current assets
Cash and cash equivilents
Receivables
Inventories
Current tax assets
Other
Total current assets
Non-current assets
Receivables
Investments accounted for using the equity method
Other investments

Intangibles
Property, plant and equipment
Deferred tax assets
Employee benefits
Other
Total non-current assets
Total assets

188,188
2,363,672
442,183
6,719
1,006

144,247
2,125,617
469,890
2,474

108,064
1,769,915
528,136
4,480

95,008
1,535,448
446,758
1,801

3,029,198

2,769,142

2,436,962

2,104,157

5,128,534

6,020,870

5,385,636

4,861,059

1,175,515
110
163,200
165,075
1,503,900

1,716,399
71,404
55,361
228,993
2,072,157

1,497,147
1,188
9,862
124,200
1,632,397

1,674,017
153,979
13,798
139,969
1,981,763

7,642
692,169
59,253
332,979
1,092,043
2,595,943

5,657
870,921
475,103
1,351,681
3,423,838

6,595
948,744
638,321
1,593,660
3,226,057

6,726
464,685
189,810
661,221
2,642,984

Net assets
Equity
Issued Capital
Treasury stock
Reserves
Retained earnings
Total parent entity interest
Non-controlling interest

2,532,591

2,597,032

2,159,579

2,218,075

543,415
(607)
(3,498)
1,981,319
2,520,629
11,962

543,415
(610)
(10,258)
2,055,262
2,587,809
9,223

543,415
20
(7,655)
1,611,905
2,147,684
11,894

543,415
(430)
(8,337)
1,671,357
2,206,005
12,070

Total equity

2,532,591

2,597,032

2,159,579

2,218,075

Current liabilities
Payables
Interest bearing liabilities
Current tax liabilities
Employee benefits
Provisions
Total current liabilities
Non-current liabilities
Payables
Interest bearing liabilities
Employee benefits
Provisions
Total non-current liabilities
Total liabilities

Caltex Australia Limited

Income Statements
31st December
2014

2013

2012

2011

$'000

$'000

$'000

$'000

24,231,200

24,676,383

23,261,885

22,105,204

(16,951,754)
(5,262,166)
(515,694)
(22,729,614)
1,501,586

(17,912,406)
(5,126,439)
246,445
(22,792,400)
1,883,983

(16,800,492)
(5,027,201)
(131,805)
(21,959,498)
1,302,387

(16,054,534)
(5,046,904)
197,449
(20,903,989)
1,201,215

Other income
Net foreign exchange losses
Impairment of non-current assets
Supply chain expenses
Marketing expenses
Other expenses

726
(21,730)
(328,265)
(779,759)
(231,771)

44,881
(77,876)
(242,632)
(731,302)
(52,880)

304,973
(8,439)
(667,598)
(665,758)
(80,876)

296,517
(10,004)
(1,552,780)
(194,971)
(621,334)
(72,788)

Results from operating activities

140,787

824,174

184,689

(954,145)

(119,604)
8,234
(111,370)

(97,675)
8,884
(88,791)

(99,459)
(99,549)

(69,240)
(69,240)

Share of net profit of entities accounted for using the equity method
Profit before income tax expense
Income tax expense

917
30,334
(7,664)

158
735,541
(206,784)

1,634
86,864
(29,263)

1,618
(1,021,767)
308,546

Net Profit

22,670

528,757

57,601

(713,221)

19,931
2,739

530,028
(1,271)

56,777
824

(713,514)
293

22,670

528,757

57,601

(713,221)

Thousands of dollars
Revenue
Replacement cost of goods sold (excluding product duties and taxes and inventory
(losses)/gains)
Product Duties and Taxes
Inventory (losses)/gains
Cost of goods sold - historical cost
Gross profit

Finance costs
Finance income
Net finance costs

Profit/(loss) attributable to:

Equity holders of the parent entity
Non-controlling interest
Net profit
Basic and diluted earnings per share
Historical cost - cents per share

7.4

196.3

21.0

(264.3)

Receivables
Income Statements
Other investments
2014

2013

2012

2011

$'000

$'000

$'000

$'000

22,670

528,757

57,601

(713,221)

8,608
(2,582)
6,026

30,470
(9,141)
21,329

6,887

(31,128)

6,887

(31,128)

1,446
18,640
(8,299)
(3,103)
8,684
14,710

88,206
(73,549)
(4,397)
10,260
31,589

(29,731)
25,330
(296)
(4,697)
2,190

(21,434)
14,614
10,935
4,115
(27,013)

Total comprehensive income for the period

Attributable to:
Equity holders of the parent entity
Non-controlling interest

37,380

560,346

59,791

(740,234)

34,641
2,739

561,617
(1,271)

58,967
824

(740,527)
293

Total comprehensive income for the period

37,380

560,346

59,791

(740,234)

Thousands of dollars
Profit for the period
Other comprehensive income
Items that wil not be reclassified to profit or loss:
Actuarial gain on defined benefit plans
Tax on items that will not be reclassified to profit or loss
Total items that will not be reclassified to profit or loss
Items that may be reclassified subsequently to profit or loss:
Foreign operations - foreign currency translation differences
Effective portion of changes in fair value of cash flow hedges
Net change in fair value of cash flow hedges reclassified to profit or loss
Tax on items that may be reclassified subsequently to profit or loss
Total items that may be reclassified subsequently to profit or loss
Other comprehensive income for the period, net of income tax

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Documentation
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on.

Caltex Australia Limited

Restated Statements of Movements in Equity
31st December

Balance at 1st January

(Loss)/profit for the period
Other operating comprehensive income:
Total other comprehensive (expense)/income
Other financial comprehensive income:
Foreign currency translation differences for foreign operations
Total Comprehensive (expense)/income for the year
Transactions with share holders:
Own shares acquired
Shares vested to employees
Expense on equity settled transactions
Dividends to shareholders
Balance at 31 December

Caltex Australia Limited

Restated Statements of Financial Position (balance sheet)
31st December

Operating assets:
Cash and cash equivilents
Receivables
Inventories
Current tax assets
Other
Investments accounted for using the equity method
Other investments
Intangibles
Property, plant and equipment
Deferred tax assets
Employee benefits
Total Operating Assets (OA)

Operating Liabilities:
Payables
Employee Benefits
Provisions
Total Operating Liabilities (OL)
Net Operating Assets (NOA)
Financial assets:
Total Financial Assets (FA)
Financial liabilities:
Interest bearing liabilities
Total Financial Liabilities (FO)
Net Financial Obligations (NFO)
Equity
Issued capital
Treasury stock
Reserves
Retained earnings
Total parent entity interest
Non-controlling interest
Total equity
Total NFO + Equity

Caltex Australia Limited

Restated Statements of Financial Performance (Income Statement)
31st December

Operating Revenue:
Revenue
Inventory (losses)/gains
Other income
Total Operating Revenue
Profit/loss attributable to:
Equity holders of the parent entity
Non-controlling interest
Total Operating Income
Operating Expenses:
Cost of goods sold - historical cost1
Net foreign exchange losses

Replacement cost of goods sold (excluding product duties and taxes and inventories (losses)/gains)
Product Duties and Taxes
Impairment of non-current assets
Supply chain expenses
Marketing expenses
Other expenses
Total Operating Expenses
Operating Profit before income tax
Tax expense:
Tax reported
Tax benefit
Tax expense
Other operating comprehensive income
Share of net profit of entities accounted for using the equity method
Actual gain on defined befefit plans
Tax on items that will not be reclassified to profit or loss
Total Other operating comprehensive income
Comprehensive operating income after tax (OI)
Net financial expense (NFE)
Finance costs
Finance income
Net financial expense before tax
Tax benefit

Other financial comprehensive income

Foreign operations - foreign currency translation differences
Effective portion of changes in fair value of cash flow hedges
Net financial expense after tax (NFE)
Comprehensive income

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Note 1

The cost of goods sold - historical cost has been included as it was on the Income statement. The value
however is not included as I believe this may have been purely just for reference, I cannot see where
the figures were applied in the Income Statement
Note 2
Tax benefit = Net interest expense x tax rate of the firm
Net interest expense
Tax rate of the firm 2011-2014 = 30%
Tax benefit =

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2014

2013

$'000

2012

$'000

2011

$'000

$'000

2,597,032
22,670

2,159,579
528,757

2,218,075
57,601

3,082,596
(713,221)

14,710.0

31,589.0

2,190.0

(27,013.0)

(240)

37,380

560,106

59,791

(740,234)

(8,971)
0
7,050
(99,900)
2,532,591

(21,434)
0
8,181
(109,400)
2,597,032

(4,353)
0
8,566
(122,500)
2,159,579

(3,629)
0
6,242
(126,900)
2,218,075

2014

2013

2012

2011

$'000

$'000

$'000

$'000

53,122
840,918
1,118,084
56,704
34,760
24,181
3
188,188
2,363,672
442,183
6,719
5,128,534

199,922
991,581
2,027,857
37,890
23,863
3
144,247
2,125,617
469,890
6,020,870

209,929
1,049,641
1,651,509
44,282
24,157
3
108,064
1,769,915
528,136
5,385,636

1,818
1,003,056
1,717,732
37,663
23,573
3
95,008
1,535,448
446,758
4,861,059

1,183,157
222,453
498,054
1,903,664

1,716,399
228,993
1,945,392

1,497,147
124,200
1,621,347

1,674,017
139,969
1,813,986

3,224,870

4,075,478

3,764,289

3,047,073

692,279
692,279

942,325
942,325

949,932
949,932

618,664
618,664

692,279

942,325

949,932

618,664

543,415
(607)
(3,498)
1,981,319
2,520,629
11,962
2,532,591

543,415
(610)
(10,258)
2,055,262
2,587,809
9,223
2,597,032

543,415
20
(7,655)
1,611,905
2,147,685
11,894
2,159,579

543,415
(430)
(8,337)
1,671,357
2,206,005
12,070
2,218,075

3,224,870

3,539,357

3,109,511

2,836,739

ement)
2014

2013

2012

2011

$'000

$'000

$'000

$'000

24,231,200
(515,694)
726
23,716,232

24,676,383
246,445
44,881
24,967,709

23,261,885
(131,805)
304,973
23,435,053

22,105,204
197,449
296,517
22,599,170

19,931
2,739
23,738,902

530,028
(1,271)
25,496,466

56,777
824
23,492,654

(713,514)
293
21,885,949

(22,729,614)
(21,730)

(22,792,400)
(77,876)

(21,959,498)
(8,439)

(20,903,989)
(10,004)

(16,951,754)
(5,262,166)
0
(328,265)
(779,759)
(231,771)
(23,575,445)

(17,912,406)
(5,126,439)
1
(242,632)
(731,302)
(52,880)
(24,143,534)

(16,800,492)
(5,027,201)
2
(667,598)
(665,758)
(80,876)
(23,250,362)

(16,054,534)
(5,046,904)
3
(194,971)
(621,334)
(72,788)
(22,000,532)

163,457

1,352,932

242,292

(114,583)

(7,664)
25,747
(33,411)

(206,784)
(180,147)
(26,637)

(29,263)
575
(29,838)

308,546
329,318
(20,772)

917
8,608
(2,582)
6,943

158
30,470
(9,141)
21,487

1,634
6,887
0
8,521

1,618
(31,128)
0
(29,510)

203,811

1,401,056

280,651

(123,321)

(119,604)
8,234
(111,370)

(97,675)
8,884
(88,791)

(99,459)
0
(99,459)

(69,240)
0
(69,240)

33,411

26,637

29,838

20,772

1,446
18,640

0
88,206

0
(29,731)

0
(21,434)

53,497

114,843

107

(662)

257,308

1,515,900

280,757

(123,983)

(111,370)
0.30
(33,411)

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Caltex Australia Limited

RATIOS
31st December
2014
Profitability Ratios
Net Profit Margin
Return on Assets

Net profit after tax/sales

Net profit after tax/total assets

Efficiency (or Asset Management) Ratios

Total Asset Turnover Ratio

Sales/total assets

2013

2012

Liquidity Ratios
Current Ratio

Current assets/current liabilities

Financial Structure Ratios

Debt/Equity Ratio
Equity Ratio

Debt/equity
Equity/total assets

Market Ratios
Earnings per Share (EPS)
Dividends per Share (DPS)
Price Earnings Ratio

Net profit after tax/nos of issued ordinary shares

Dividends/number of issued ordinary shares
Market price per share/earnings per share

Ratios Based on Reformulated Financial Statements

Return on Equity (ROE)
Comprehensive Income/shareholders' equity
Return on Net Operating Assets (RNOA)
Operating income after tax (OI)/net operating assets (NOA)
Net Borrowing Cost (NBC)
Net fin. expenses after tax/net financial obligations
Profit Margin (PM)
Operating income after tax (OI)/sales
Asset Turnover (ATO)
Sales/net operating assets (NOA)
Economic profit
(RNOA - cost of capital) x net operating assets (NOA)

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2011

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Notes Area

NPV

IRR

Yr 0
(10,000)
$3,456.05

Yr 1
3,000

Yr 2
6,800

Yr 3
6,800

Yr 0
(70,000)
14%

Yr 1
15,000

Yr 2
18,000

Yr 3
21,000

Yr 4
26,000

Yr 5
26,000