Annual Report 2004 73
Consolidated Santos Ltd
2004 2003 2004 2003
23. Interests in Joint Ventures (continued) $million $million $million $million
(c) Santos Ltd and its controlled entities’ share of assets and liabilities employed in the 
joint ventures are included in the statements of financial position under the 
following classifications:
Current assets
Cash 89.3 72.1 32.2 36.3
Receivables 63.8 26.8 29.3 9.1
Inventories 20.0 27.3 13.5 17.8
Total current assets 173.1 126.2 75.0 63.2
Non-current assets
Exploration and development expenditure 2,916.9 2,738.9 858.4 866.6
Land and buildings, plant and equipment 1,971.9 1,684.0 645.9 640.9
Other 1.2 1.2 – –
Total non-current assets 4,890.0 4,424.1 1,504.3 1,507.5
Total assets 5,063.1 4,550.3 1,579.3 1,570.7
Current liabilities
Payables 237.6 190.5 76.0 60.2
Provisions 3.9 7.6 0.9 1.6
Total current liabilities 241.5 198.1 76.9 61.8
Non-current liabilities
Provisions 129.4 113.7 43.8 36.0
Total liabilities 370.9 311.8 120.7 97.8
Net investments in joint ventures 4,692.2 4,238.5 1,458.6 1,472.9
(d) The amount of capital expenditure commitments, minimum exploration commitments 
and contingent liabilities in respect of unincorporated joint ventures are:
Capital expenditure commitments 266.9 270.9 102.1 84.5
Minimum exploration commitments 172.5 347.3 71.5 107.4
Contingent liabilities 13.4 15.1 6.1 4.8
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