Question

Refer to the consolidated financial statements and notes in the 2017 financial report of Wesfarmers on its website, http://www.wesfarmers.com.au/docs/default-source/reports/j000901-ar17_interactive_final.pdf?sfvrsn=4 and answer the following questions

1.How much cash has been raised by interest-bearing loans in the most recent financial year? How much of such loans has been repaid? How do these amounts compare with the previous year?

2. Determine whether any of the non-current liabilities are secured.

3. Are there any non-current provisions? If so, what, in very general terms, do these represent?

Answer 1

1.Cash raised by interest-bearing loans in the most recent financial year
Fig. in $ m
		Comparison with Previous Year
	6/30/2017	6/30/2016
i.Proceeds from borrowings	220	2,360
ii.Such loans has been repaid
Repayment of borrowings	-1,994	-1,424
Amount raised in currrent year($ 220 m ) is less than the previous year($ 2360 m)
Amount repaid in current year ($ 1994 m) is more than the previous year($ 1424 m)

2. Determine whether any of the non-current liabilities are secured.
Schedule 14. Interest-bearing loans and borrowings
	Consolidated
	6/30/2017	6/30/2016
	$ m	$ m
Unsecured
Current
Bank Debt	378	1132
Capital Market Debt	969	500
	1347	1632
Non-Current
Unsecured
Bank Debt	863	1450
Capital Market Debt	3203	4221
	4066	5671
Total Interest -bearing loans & borrowings	5413	7303
So, as per Schedule 14 of Notes to the financial statements ,there are no secured non-current liabilities.

3….	Consolidated
	6/30/2017	6/30/2016
	$ m	$ m
Non-current liabilities:
Provisions	1,511	1,554
Yes. There are provisions in non-current liabilities --- they represent employee benefits,wages& salaries,lesae provisions,off-market contracts ,self-insured risks.