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              [html]<thead><tr><tdrowspan="2">5. Profit from Ordinary Activities</td><tdcolspan="2">Cost 2004 $ million</td><tdcolspan="2">2003 $ million</td></tr><tr><td>S2004 $ million</td><td>Ltd2003 $ million</td><td>( a ) Profit from ordinary activities before tax includes the following itemsDepreciation, depletion and amortisation :</td><td>Depletion of explaration and development expenditure</td></tr></thead><tbody><tr><tdcolspan="5">344.3</td></tr><tr><td>333.8</td><td>116.5</td><td>119.7</td><td>Depreciation of plant and equipment</td><td>169.1</td></tr><tr><td>168.7</td><td>85.8</td><td>69.1</td><td>Depreciation of buildings</td><td>2.0</td></tr><tr><td>3.3</td><td>1.0</td><td>1.8</td><td>Future restoration costs</td><td>19.8</td></tr><tr><td>16.8</td><td>7.6</td><td>5.2</td><td>Amortisation of goodwill</td><td>4.5</td></tr><tr><td>9.0</td><td>–</td><td>–</td><td>539.7</td><td>531.6</td></tr><tr><td>210.9</td><td>195.8</td><td>Charges to provisions :</td><td>Doubtful debts</td><td>( 0.6 )</td></tr><tr><tdcolspan="5">0.2</td></tr><tr><td>( 0.2 )</td><td>0.1</td><td>Stock obsolescence</td><td>6.4</td><td>1.0</td></tr><tr><td>3.1</td><td>0.2</td><td>Employee entitlements and non - executive Directors ’ retirement benefits</td><td>( 0.3 )</td><td>6.7</td></tr><tr><td>( 0.3</td><td>6.2</td><td>Operating lease rentals</td><td>42.2</td><td>45.6</td></tr><tr><td>21.4</td><td>22.5</td><td>Profit on disposal of non - current assets</td><td>( 52.4 )</td><td>( 55.1 )</td></tr><tr><td>( 297.7 )</td><td>( 45.8 )</td><td>( Profit )/ loss on disposal of controlled entities</td><td>–</td><td>( 4.5 )</td></tr><tr><td>–</td><td>1.0</td><td>( b ) Individually significant expenses /( gains ) Included in profit from</td><td>ordinary activities before income tax</td><td>Insurance recovery</td></tr><tr><tdcolspan="5">( 116.6 )</td></tr><tr><td>–</td><td>( 73.8 )</td><td>–</td><td>Casts associated with Moomba liquids recovery plant fire included in cost of sales</td><td>17.5</td></tr><tr><td>–</td><td>11.9</td><td>–</td><td>Profit on sale of oil and gas assets</td><td>( 43.9 )</td></tr><tr><td>–</td><td>( 298.4 )</td><td>–</td><td>Write - down of exploration and development expenditure</td><td>22.1</td></tr><tr><td>59.7</td><td>4.6</td><td>6.1</td><td>Organisation restructure cests included in selling, general and administrative expenses</td><td>21.6</td></tr><tr><td>–</td><td>21.6</td><td>–</td><td>Accelerated depreciation – Heytesbury plant</td><td>−</td></tr><tr><td>20.2</td><td>–</td><td>–</td><td>Profit on sale of investment in listed shares</td><td>−</td></tr><tr><td>( 45.8 )</td><td>–</td><td>( 45.8 )</td><td>6. Taxation</td><td>Income tax attributable to profit from ordinary activitiesThe prima facie income tax attributable to profit from ordinary activities income tax expense and is calculated as follows :</td></tr><tr><tdcolspan="5">Prima facie income tax at 30 % ( 2003 : 30 %)</td></tr><tr><td>162.2</td><td>129.3</td><td>210.1</td><td>58.1</td><td>Tax effect of permanent and other differences which increase /( decrease ) income tax expense :</td></tr><tr><td>Non - deductible depletion, depreciation and amortisation</td><td>17.9</td><td>18.9</td><td>2.4</td><td>2.5</td></tr><tr><td>Write - down of investment in controlled entities</td><td>−</td><td>.</td><td>–</td><td>. 2.2</td></tr><tr><td>Other</td><td>0.8</td><td>10.7</td><td>6.2</td><td>( 14.5 )</td></tr><tr><td>Impact of the tax consolidation system</td><td>Income tax expense allocated to wholly - owned controlled entities under</td><td>tax funding agreement</td><td>−</td><td>–</td></tr><tr><td>( 64.0 )</td><td>( 131.1 )</td><td>Income tax expense relating to transactions, events and balances of</td><td>wholly - owned controlled entities in the tax - consolidated group</td><td>-</td></tr><tr><td>–</td><td>60.5</td><td>138.5</td><td>Transactions within the tax - consolidated group :</td><td>Dividends from controlled entities</td></tr><tr><td>–</td><td>–</td><td>( 75.5 )</td><td>–</td><td>Non - deductible interest</td></tr><tr><td>−</td><td>–</td><td>14.2</td><td>–</td><td>Profit on sale of oil and gas assets</td></tr><tr><td>−</td><td>–</td><td>( 76.8 )</td><td>–</td><td>Tax benefit arising from reduced deferred tax balances upon entering into</td></tr><tr><td>Australian tax consolidation regime</td><td>( 20.0 )</td><td>( 55.0 )</td><td>( 20.0 )</td><td>( 55.0 )</td></tr><tr><td>160.9</td><td>103.9</td><td>57.1</td><td>10.7</td><td>Income tax comprises amounts set aside to :</td></tr><tr><td>Provision for current income tax</td><td>143.1</td><td>144.7</td><td>120.9</td><td>126.1</td></tr><tr><td>Deferred tax liability</td><td>24.6</td><td>( 16.5 )</td><td>0.2</td><td>15.7</td></tr><tr><td>Deferred tax asset</td><td>( 1.6 )</td><td>12.8</td><td>–</td><td>–</td></tr><tr><td>Foreign currency translation reserve</td><td>( 5.2 )</td><td>( 37.1 )</td><td>−</td><td>–</td></tr><tr><td>Tax related receivable from wholly - owned controlled entities</td><td>−</td><td>___</td><td>( 64.0 )</td><td>( 131.1 )</td></tr><tr><td>160.9</td><td>103.9</td><td>57.1</td><td>10.7</td></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr></tbody>
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