The National Shipping Company of Saudi Arabia
50/51
Consolidated Balance Sheet As of December 31, 2011 (In Thousands Saudi Riyals)
LIABILITIES AND EQUITY
Current liabilities:
Notes
2011
2010
Accounts payable and other credit balances
13
288,907
254,357
Current portion of Murabaha financing and long-term finance
14
456,045
324,648
Short term finance
64,000
-
Unclaimed dividends
15
30,720
26,896
Provision for zakat and tax
16
104,576
129,429
Incomplete voyages
-
700
Total current liabilities
944,248
736,030
Non-current liabilities:
Murabaha financing and long-term finance
14
4,294,968
3,818,540
Obligation from fluctuations in swap fair market value for finance commission rates
17
-
1,734
Employees end of service benefits provision
28,058
31,592
Total non-current liabilities
4,323,026
3,851,866
Total liabilities
5,267,274
4,587,896
Equity:
Shareholders’ equity
Paid-up share capital
3,150,000
3,150,000
Statutory reserve
18
872,435
843,658
Retained earnings
1,039,654
1,095,663
Hedging reserve for finance commission
17
-
(1,734)
Unrealized gain from available for sale investments
534
2,104
Total shareholders’ equity
5,062,623
5,089,691
Minority interest
293,314
288,692
Total equity
5,355,937
5,378,383
Total liabilities and equity
10,623,211 9,966,279
* The accompanying notes from (1) to (26) form an integral part of these consolidated financial statements.
Powered by FlippingBook