IFRS PRACTICAL IMPLEMENTATION GUIDE AND WORKBOOK

Chapter 23 t lnterests ill Ioint Ventures (lAS 31)

219

12. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS BARLOWORLD Notes to the Consolidated Annual Financial Statements for the Year Ended September 30 5. Investment in Associates and Joint Ventures ' 2006 Rm 2005 Rm 2004 Rm 2006 Rm 2005 Rm 2004 Rm

Income 25 28 53

Investment 191 327 ill

19 53 T1.

314 435 1:l2

65 34 22

95 224 ill

Associates Joint ventures

Per business segment: Continuing operations Equipment Industrial distribution Motor Cement

331 o 48 o 88 o ~ 509 ----.2 ill

553 o 84 o 83 o .zs 749 ---.2 ill

133 o 27 8 78 o ..M 307 -.ll ill

8 o

3 ( 1)

27

o o o

27

23 2 20 o ....Q 53 -5. .s..8

59 11 27

18

Coatings Scientific Corporate and other Total continuing operations Discontinued operation-Steel tube Total group

o

-..ll 99 --.8. l.Q1

....Q 72 ~ 7.fJ.

Joim Ventures 134 122 75 64 26 38 26 38 13

Associates

23 29 (30) (18) 43 (109) 222 191 97 ---.2 314 191 139 144 83 47 47 145

616 145 130

Cost of investment Share of associates and joint ventures reserves Beginning of year

Valuation of shares Directors' valuation of unlisted associate companies and joi nt venture s Directors valuation of unlisted associate companies– discontinued operation Less: Discontinued operation-Steel tube Ca r rying value including amounts owing Carryin g value by category Unlisted associates and joint ventures-share at carryi ng value Unlisted associates of discontinued operation- shares at carryi ng value Aggregate of group associate companies and joint ventures' net assets Revenue and profit Property, plant, and equipment and other noncurrent assets Current assets Long-term liabilities Current liabilities Revenue Profit after taxation Cash flow from operations Increase in retained earnings for the year Normal and exceptional profit for the year Dividends received Disposals and other reserve movements Avis associate now a subsidiary Carrying value excluding amounts owing Loans and advances to/(from) associates and joint venture s

73 (29) (29) (653) 108 (13)

53 (17) 2

148 179 28 (27) (13)

34

(8) (I )

198 237

113 111

95

435

327

224

222

148

198

191

108

11 3

---.2 221 306

330

199

232

440

247

---.2 311

199

440

247

330

232

656 445 80 155 950 23 21

26

24 197 2 127 744 73 11

297 920 294 460 1,485 53 (139)

155 398 157 120 1,572 28 55

51 364 172 179 1,363

167 12 80 640

29 l.Q

34 46

I Ref er note 38 and 39 for a detailed list of associate and joint venture companies. Energyst has in the current year been reclassified from an unlisted investment to an associate. In 2005 Valspar SA Corporation and International Paints were reclassified from joint ventures to associates. Comparative numbers have been restated on a similar basis.