222
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PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 562
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of
m
S Dollars, unless otherwise stated
35. TRANSACTIONS AND BALANCES WITH RELATED PARTIES continued
b. Transaction details continued
On 25 April 2012, ATA entered into another loan agreement “Agreement II” with SMS and SI. Based on Agreement II, it is acknowledged and agreed that i ATA provides an additional loan facility of Rp 166 billion; ii on the date of
Agreement II, the outstanding balance under Agreement I comprises a US16,220, which on the date of Agreement II was converted into Rupiah currency in the amount of Rp 148.8 billion, and b Rp 51.3 billion including
accrued interest on Agreement I, therefore, the total outstanding balance under Agreement I was Rp 200.1 billion, which total amount has been acknowledged and agreed as part of the total debt under Agreement II; and iii
Agreement I was terminated. Agreement II bears an annual fixed interest, with interest payable every month. On 21 September 2012, ATA entered into Amendment I to Agreement II with SMS and SI, under which ATA agreed to
provide an additional loan to SMS amounting to Rp 30 billion. The loan is secured by the pledge of 35 of shares in SMS owned by SI.
ATA has received full repayment in February 2014.
c. Key management compensation
The Board of Commissioners and Directors of the Company and its subsidiaries are considered as key management personnel.
Remuneration for the Board of Commissioners and Directors of the Company and its subsidiaries for the years ended 31 December 2013 and 2012, was as follows:
2013 2012
Remuneration 19,145
16,748 Post employment benefit
2,941 1,134
22,086 17,882
The Boards of Commissioners and Directors do not receive any other benefits such as management stock options.
36. EARNINGS PER SHARE
2013 2012
Profit for the year attributable to the owners of the parent 231,231
385,347 Weighted average number of ordinary shares outstanding
in thousands of shares 31,985,962
31,985,962 Basic earnings per share full amount
0.00723 0.01205
Weighted average number of ordinary shares used as the denominator in calculating basic earnings per share in thousands of shares
31,985,962 31,985,962
Adjustments for calculation of diluted earnings per share in thousands of shares:
- Share options 2,381,730
1,389,342 Weighted average number of ordinary shares used as the denominator in
calculating diluted earnings per share in thousands of shares 34,367,692
33,375,304 Diluted earnings per share full amount
0.00673 0.01155
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PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 563
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of
p
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37. NET MONETARY ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES
As at 31 December 2013 and 2012, the Group had monetary assets and liabilities denominated in currencies other than US Dollars as follows:
2013 Foreign currency
full amount Equivalent US
Monetary assets Cash and cash equivalents
Rp 1,185,314,954,642
97,245 S
1,146,340 905
€ 276,571
382 Trade receivables
Rp 1,079,678,287,899
88,575 Prepaid taxes
Rp 518,118,643,168
42,507 Loan to a related party
Rp 490,397,746,859
40,233 Total monetary assets
269,847
Monetary liabilities Trade payables
Rp 531,221,141,553
43,582 S
64,243 51
€ 391,794
541 ¥
365,721 3
A 678,503
605 £
18,210 30
Accrued expenses Rp
61,108,587,521 5,013
€ 4,655,472
6,425 A
42,264 38
Taxes payable Rp
118,928,821,158 9,757
Retirement benefits obligation Rp
470,520,147,349 38,602
Provision for mine reclamation and closure Rp
491,885,087,740 40,355
Total monetary liabilities 145,002
Net foreign currency monetary assets 124,845
2012 Foreign currency
full amount Equivalent US
Monetary assets Cash and cash equivalents
Rp 1,293,006,517,056
133,714 S
1,091,335 892
€ 286,896
371 Trade receivables
Rp 1,532,902,723,886
158,525 Prepaid taxes
Rp 312,104,859,212
32,276 Loan to a related party
Rp 430,915,756,100
44,562 Total monetary assets
370,340
224
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IABlE, STrong, EFFICIEnT
PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 564
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of
t
S Dollars, unless otherwise stated
37. NET MONETARY ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES continued
2012 Foreign currency
full amount Equivalent US
Monetary liabilities Trade payables
Rp 451,208,720,384
46,661 S
817,320 668
€ 2,164,886
2,868 ¥
2,260,034 26
A 4,486,254
4,651 £
142,984 230
Accrued expenses Rp
30,991,685,195 3,205
S 748
1 €
2,597,079 3,440
Taxes payable Rp
83,802,579,304 8,666
Retirement benefits obligation Rp
297,255,616,270 30,740
Provision for mine reclamation and closure Rp
156,764,895,181 16,211
Total monetary liabilities 117,367
Net foreign currency monetary assets 252,973
Monetary assets and liabilities mentioned above are translated using the Bank Indonesia closing rate as at 31 December 2013 and 2012.
If assets and liabilities in currencies other than US Dollars as at 31 December 2013 are translated using the exchange rate as at the date of consolidated statement of financial position, the total net monetary assets will increase by approximately
US5,829.
38. NON-CASH TRANSACTIONS
2013 2012
Non-cash activities: Acquisition of assets under finance leases
20,345 55,776
Addition of investments in associates through conversion of advance for investments
5,413 13,462
Addition of fixed assets through capitalisation of depreciation expenses 435
- Addition of mining properties through capitalisation of depreciation expenses
355 -
39. OPERATING SEGMENTS
Management has determined the operating segments based on reports reviewed by the Board of Directors, which has been identified as the Group’s chief operating decision maker, which makes strategic decisions.
The Board of Directors considers the business operation by business type perspective which comprises sales of coal, mining services, logistics and others power plant, asset management, etc..
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PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 565
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of
w
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39. OPERATING SEGMENTS continued
The segment information provided to the Board of Directors for the reportable segments for the years ended 31 December 2013 and 2012, is as follows:
Coal mining Mining
and trading services
Logistics Others
Eliminations Consolidated
For the year ended 31 December 2013
External revenue 3,069,303
147,748 38,202
29,889 -
3,285,142 Inter-segment revenue
3,562 261,273
125,275 55,997
446,107 -
Revenue 3,072,865
409,021 163,477
85,886 446,107
3,285,142 Cost of revenue
2,425,998 361,331
93,550 32,458
367,381 2,545,956
Selling and marketing expense
42,267 -
- -
- 42,267
General and administration expense
50,180 36,886
8,380 39,887
4,511 130,822
Finance costs 113,479
15,605 7,607
24,224 44,333
116,582 Finance income
31,984 975
743 14,315
31,878 16,139
Income tax expense 194,693
4,884 5,115
8,230 13,133
190,021 Profit for the year
246,266 17,029
47,127 25,267
21,834 229,263
Depreciation and amortisation 110,238
85,918 16,347
6,354 74,205
293,063 Segment assets
3,173,278 794,379
384,178 500,023
1,881,929 6,733,787
Segment liabilities 2,589,448
408,511 183,904
1,426,002 1,069,081
3,538,784
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PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 566
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of
{
S Dollars, unless otherwise stated
39. OPERATING SEGMENTS continued
Coal mining Mining
and trading services
Logistics Others
Eliminations Consolidated
For the year ended 31 December 2012
External revenue 3,438,627
210,317 40,023
33,522 -
3,722,489 Inter-segment revenue
- 286,840
135,662 63,519
486,021 -
Revenue 3,438,627
497,157 175,685
97,041 486,021
3,722,489 Cost of revenue
2,486,866 436,987
114,071 58,298
416,355 2,679,867
Selling and marketing expense
50,782 -
- -
- 50,782
General and administration expense
38,185 30,839
9,040 45,952
1,731 122,285
Finance costs 115,224
17,508 7,264
20,041 41,690
118,347 Finance income
28,440 562
564 10,453
28,900 11,119
Income tax expense 330,782
1,182 2,436
9,329 10,948
330,417 Profit for the year
413,759 14,776
41,922 24,980
62,170 383,307
Depreciation and amortisation
95,868 87,402
15,385 2,571
66,122 267,348
Segment assets 3,142,385
866,321 366,329
393,870 1,923,351
6,692,256 Segment liabilities
2,672,187 491,869
229,999 1,280,760
977,613 3,697,202
Sales by destination is as follows:
2013 2012
Domestic 831,710
1,147,825 Export
- India 519,657
477,089 - Japan
384,682 386,885
- Korea 350,078
402,250 - Others
1,199,015 1,308,440
3,285,142 3,722,489
Sales between segments are carried out at contracted prices. The revenue from external parties reported to the Board of Directors is measured in a manner consistent with that in profit or loss.
The amounts provided to the Board of Directors with respect to total assets and liabilities are measured in a manner consistent with that of the consolidated statements of financial position.
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of
~
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40. SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES
a. Coal mining, transportation, barging, transhipment and other related agreements
