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Whitehaven Coal Limited : Annual Report 2012
Whitehaven Coal Limited -- Annual Report 2012 103 NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2012 7. SIGNIFICANT ITEMS Consolidated In thousands of AUD 2012 2011 Net profit for the year 62,539 9,946 Add back significant items: Gain on sale of joint venture interest1 (116,175) -- Loss on coal trading for legacy contracts2 29,416 65,405 Share based compensation3 7,568 2,102 Due diligence costs and project costs4 41,377 5 ,778 Claim settlement5 1,514 -- Impairment of goodwill from acquisition of Boardwalk Resources6 119,791 -- Financial income on EDF receivable7 (23,867) (8,602) Finance costs on retranslation of EDF receivable7 21,525 24,922 Significant items before tax 81,149 89,605 Applicable income tax expense/(benefit) 15,593 (26,251) Initial recognition of MRRT starting base temporary differences8 (101,500) -- Significant items after tax (4,758) 63,354 Net profit before significant items 57,781 73,300 Reconciliation of significant items to face of statement of comprehensive income: Operating expenses: Loss on coal trading for legacy contracts2 -- purchased coal (7,494) (25,563) Other income: Gain on sale of joint venture interest1 116,175 -- Other expenses: Loss on coal trading for legacy contracts2 -- contract settlements (21,922) (39,842) Share-based payment expense3 (7,568) (2,102) (29,490) (41,944) Administrative expenses: CSN settlement5 (1,514) -- Impairment of goodwill from acquisition of Boardwalk Resources6 (119,791) -- Due diligence costs and project costs4 (41,377) (5,778) (162,682) (5,778) Financial income Unwinding of discount on EDF receivable7 -- 6,052 Net unrealised foreign exchange gain on translation of EDF receivable7 23,867 2,550 23,867 8,602 Financial expenses Net realised foreign exchange losses on EDF receipts7 (21,525) (24,922) Significant items before tax (81,149) (89,605) Significant items are amounts considered by the company not to be in the normal course of operations and are generally one-off or non-recurring.
Annual Report 2011
Annual Report 2013