Basic HTML Version
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APN
annual report
2011
notes to the financial statements
APN News & Media Limited and Controlled Entities
4. SEGMENT INFORMATION (continued)
2010
Australian
Regional
Media
$’000
NZ
Media
$’000
Australian
Radio
$’000
NZ
Radio
$’000
Outdoor
$’000
Digital
Ventures
$’000
Unallocated
$’000
Total
$’000
Revenue from external customers
288,036 320,077 127,307
85,682 237,983
–
–
1,059,085
Segment result
60,005
71,304 42,942
12,847
28,901
–
(10,555)
205,444
Share of profits of associates
–
(182)
–
–
3,184
–
–
3,002
Segment assets
268,909 845,349 322,023 235,608 380,748
–
110,285
2,162,922
Segment liabilities
17,504 168,780 49,882
18,569 131,709
– 588,273
974,717
Reconciliation of segment result to operating profit before income tax
Segment result
205,444
Net finance costs
(49,802)
Gain on disposal of properties
1,051
Redundancies and associated costs
(3,301)
New Zealand music royalties
(1,847)
Corporate, legal and other costs
(3,174)
Multimedia restructure costs
(1,724)
Reversal of impairment of investment in associate
3,000
Profit before tax from continuing operations
149,647
Redundancies and associated costs include redundancy payments, payments in lieu of notice together with salary costs of redundant roles
from the date that the redundancy programme is initiated and other costs related to the Group’s restructuring programme.
New Zealand music royalties represent backdated payments since 2007 following the conclusion of the music royalty rate litigation between
the New Zealand radio industry and the governing body.
Corporate legal and other costs reflects adjustments relating to prior years for one of the Group’s associates as well as certain contractual
break costs and asset disposals.
Multimedia restructure costs include costs of developing new product offerings as well as the cost of now discontinued strategies.
(c) Other segment information
Segment revenues and expenses comprise amounts that are directly attributable to a segment and the relevant portion that can be allocated
on a reasonable basis. Corporate overheads including centralised finance, legal and administrative costs are not allocated against operating
segments but rather are included above as unallocated amounts.
Segment assets include all assets used by a segment and consist primarily of operating cash, receivables, inventories, property, plant and
equipment, goodwill and other intangible assets, net of related provisions. Segment liabilities consist primarily of trade and other payables,
employee benefits and provision for restructuring. Tax balances and external borrowing are not allocated to operating assets or liabilities.
Segment revenues and results exclude transfers between segments. Such transfers are priced on an arm’s length basis and are eliminated
on consolidation.
The entity is domiciled in Australia and operates predominantly in Australia, New Zealand and Asia. The amount of its revenue from
external customers in Australia is $604,730,000 (2010: $589,136,000), in New Zealand is $411,542,000 (2010: $416,832,000) and
in Asia is $56,122,000 (2010: $53,117,000). Segment revenues are allocated based on the country in which the customer is located.
The total of non-current assets located in Australia is $819,775,000 (2010: $803,034,000) and in other countries is $947,725,000
(2010: $1,088,080,000). Segment assets are allocated to countries based on where the assets are located.