Spark Infrastructure - Notes to the Financial Statements

Annual Report

CONSOLIDATED COMPANY
2008 2007 2008 2007
$’000 $’000 $’000 $’000
21. Commitments for Expenditure
(a) Capital Expenditure commitments
Share of associates’ capital expenditure commitments
— Not longer than 1 year 2,095 954 – –
— Longer than 1 year and not longer than 5 years – – – –
— Longer than 5 years – – – –
2,095 954 – –
(b) Other Expenditure Commitments
Share of associates’ other expenditure commitments
— Not longer than 1 year 2,485 2,341 – –
— Longer than 1 year and not longer than 5 years 9,865 8,779 – –
— Longer than 5 years 17,818 19,144 – –
30,168 30,264 – –
There are no capital expenditure or other expenditure commitments in Spark Infrastructure.
22. Contingent Liabilities and Contingent Assets
Contingent Liabilities
Share of associates’ contingent liabilities 12,557 11,257 – –
The contingent liabilities relate to guarantees provided to various parties. There are no contingent liabilities or contingent assets in any of the
Stapled Entities.
23. Segment Information
Spark Trust, SIH No. 1 and SIH No. 2 operate in Australia. Spark International was incorporated in the Bahamas with the intention of holding
Spark Infrastructure’s offshore assets. However, Spark International has been dormant. It does not hold any asset nor does it generate any revenue.
SIH No. 1, along with its subsidiaries, holds a 49% interest in electricity distribution businesses in Victoria and SIH No. 2, along with its
subsidiaries, holds a 49% interest in an electricity distribution business in South Australia. Spark Trust provides loans to related parties.
Each Stapled Entity is regarded as a separate segment.
SIH No. 1 SIH No. 2 Spark Trust Elimination Total
2008 2007 2008 2007 2008 2007 2008 2007 2008 2007
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
Segment Revenue
Share of equity
accounted profits 38,935 21,636 96,887 109,603 – – – – 135,822 131,239
Interest income –
associates 88,839 93,578 – – – – – – 88,839 93,578
Other interest income 3,840 3,526 2 – 103 73 – – 3,945 3,599
Inter-segment revenue 89,136 81,340 – – 145,916 145,553 (235,052) (226,893) – –
Segment Revenue 220,750 200,080 96,889 109,603 146,019 145,626 (235,052) (226,893) 228,606 228,416
Segment Results
Profit/(loss) for the
year (from continuing
operations) 16,858 12,283 (14,802) 37,251 7,397 7,398 – – 9,453 56,932

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