132 Woodside Petroleum Ltd|Annual Report 2018
E.9 Subsidiaries (cont.)
(b) Subsidiaries with material non-controlling interests
The Group has two Australian subsidiaries with material
non-controlling interests (NCI).
Nameofentity
Principalplaceof
business
held
byNCI
Burrup Facilities Company Pty Ltd Australia
Burrup Train 1 Pty Ltd Australia
The NCI in both subsidiaries is 10% held by the same parties (refer
to Note E.9(a) footnote 5 for details).
The summarised financial information (including consolidation
adjustments but before intercompany eliminations) of subsidiaries
with material NCI is as follows:
USm USm
Burrup Facilities Company Pty Ltd
Current assets
Non-current assets
Current liabilities () ()
Non-current liabilities () ()
Net assets
Accumulated balance of NCI
Revenue
Profit
Profit allocated to NCI
Dividends paid to NCI () ()
Operating
Investing () ()
Financing () ()
Net increase/(decrease) in cash and cash equivalents - -
Burrup Train 1 Pty Ltd
Current assets
Non-current assets
Current liabilities () ()
Non-current liabilities () ()
Net assets
Accumulated balance of NCI
Revenue
Profit
Profit allocated to NCI
Dividends paid to NCI () ()
Operating
Investing () ()
Financing () ()
Net increase/(decrease) in cash and cash equivalents - -
(c) Deed of Cross Guarantee and Closed Group
Woodside Petroleum Ltd and Woodside Energy Ltd are parties to
a Deed of Cross Guarantee under which each company guarantees
the debts of the other. By entering into the Deed, the entities have
been granted relief from the Corporations Act 2001 requirements
for the preparation, audit and publication of accounts, pursuant
to ASIC Instrument 2016/785. The two entities represent a Closed
Group for the purposes of the Instrument.
The consolidated income statement and statement of financial
position of the members of the Closed Group are set out below:
Restated
USm USm
Closed Group Consolidated Income Statement and
Statement of Retained Earnings
Profit before tax
Taxes () ()
Profit after tax
Retained earnings at the beginning of the financial year
Dividends () ()
Retained earnings at the end of the financial year
Closed Group Consolidated Statement of Financial
Position
Current assets
Cash and cash equivalents
Receivables
Inventories
Tax receivable -
Other financial assets
Other assets -
Non-current assets held for sale -
Total current assets
Non-current assets
Receivables -
Other financial assets
Exploration and evaluation assets
Oil and gas properties
Other plant and equipment
Deferred tax assets
Total non-current assets
Total assets
Current liabilities
Payables
Other financial liabilities
Other liabilities
Provisions
Total current liabilities
Non-current liabilities
Payables
Deferred tax liabilities
Other financial liabilities
Other liabilities
Provisions
Total non-current liabilities
Total liabilities
Net assets
Equity
Issued and fully paid shares
Shares held for employee share plan () ()
Other reserves
Retained earnings
Total equity
NOTES TO THE FINANCIAL STATEMENTS E. OTHER ITEMS
for the year ended 31 December 2018