Our Year in Review Strategy
Our Leadership
Divisions
Business Sustainability
Financials and Governance
BACK HOME
Financial statements
Trend statement
Independent auditor's report
Remuneration report
Governance Statutory disclosures
Corporate directory
Notes to the Financial Statements 2018
Working Capital Management This section provides details of the key elements of working capital which includes cash, receivables, inventories and short term liabilities
8. Cash and deposits
Cash and deposits comprise cash and demand deposits with banks or other financial institutions and highly liquid investments that are readily convertible to cash.
Cash and deposits include the Group's share of amounts held by joint operations of $31 million (2017: $28 million). At 30 June 2018, approximately $70 million (2017: $72 million) of total cash and deposits were held in subsidiaries that operate in countries where exchange controls and other legal restrictions apply and are not immediately available for general use by the Group.
June 2018 NZ$M
June 2017 NZ$M
Fletcher Building Group Cash and bank balances
227
201
13
Contract retention bank balances
5
425 665
Short-term deposits
13
219
9. Debtors Debtors are recognised initially at their fair value which is represented by their face value and subsequently valued at its estimated net realisable value to adjust for impairment losses. Estimates are used in determining the level of receivables that may not be collected. A provision for impairment is established when there is evidence that the Group will not be able to collect all amounts due. All known losses are written off to earnings in the period in which it becomes apparent that the debts are not collectable. Trade debtors normally have 30 to 90 day terms.
June 2018 NZ$M
June 2017 NZ$M
Fletcher Building Group
1,158
Trade debtors
1,100
208
Contract debtors Contract retentions
221
31
25
(21)
Less provision for doubtful debts Trade and contract debtors
(19)
1,376
1,327
253
Other receivables
198
1,629
1,525
1,166
Current
1,107
155
0 – 30 days over standard terms 31 – 60 days over standard terms 61+ days over standard terms
165
23 53
26 48
(21)
Provision
(19)
1,376
Trade and contract debtors
1,327
70 Fletcher Building Limited Annual Report 2018
Made with FlippingBook - professional solution for displaying marketing and sales documents online