Annual Report 2004 59
Consolidated Santos Ltd
2004 2003 2004 2003
11. Land and Buildings, Plant and Equipment $million $million $million $million
Land and buildings
At cost 97.2 94.7 55.5 52.3
Less accumulated depreciation (49.7) (47.7) (34.0) (33.0)
47.5 47.0 21.5 19.3
Plant and equipment
At cost 3,938.1 3,576.1 1,711.7 1,642.1
Less accumulated depreciation (1,926.9) (1,782.3) (1,067.8) (988.3)
2,011.2 1,793.8 643.9 653.8
Total land and buildings, plant and equipment 2,058.7 1,840.8 665.4 673.1
Movements during the year
Land and buildings
Balance at the beginning of the year 47.0 45.2 19.3 18.5
Additions 2.5 5.1 3.2 2.6
Depreciation expense (2.0) (3.3) (1.0) (1.8)
Balance at the end of the year 47.5 47.0 21.5 19.3
Plant and equipment
Balance at the beginning of the year 1,793.8 1,627.5 653.8 621.0
Additions 461.7 358.1 188.0 102.2
Acquisitions 12.6 13.5 – –
Disposals (26.6) (32.2) (94.5) (0.3)
Depreciation expense (169.1) (168.7) (85.8) (69.1)
Foreign currency translation (0.5) (4.4) – –
Expenditure transferred to exploration and development (60.7) – (17.6) –
Balance at the end of the year 2,011.2 1,793.8 643.9 653.8
12. Other Financial Assets
Investments in controlled entities – – 2,530.2 2,284.9
Investments in other entities:
Listed shares at cost 1.2 1.2 0.5 0.5
Listed shares at recoverable amount – 10.5 – 10.5
1.2 11.7 2,530.7 2,295.9
Market value of investments in listed shares 2.7 16.2 0.5 11.7
13. Intangibles
Goodwill, at cost 160.2 160.2 – –
Less accumulated amortisation (156.2) (151.7) – –
4.0 8.5 – –
14. Payables
Trade creditors 278.9 242.6 109.5 95.3
Sundry creditors and accruals 92.7 48.7 28.4 18.4
Amounts owing to controlled entities – – 298.4 541.3
371.6 291.3 436.3 655.0
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