JB Hi-Fi Executive Summary
2.4 Main Controlled Entities (as at June 2012)
The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in note 1(c):
Name of entity Country of incorporation Class of shares Equity holding
2012 2011
% %
Parent entity
JB Hi-Fi Limited (i)
Subsidiaries
JB Hi-Fi Group Pty Ltd (ii) Australia Ordinary 100 100
JB Hi-Fi (A) Pty Ltd (ii) Australia Ordinary 100 100
Clive Anthonys Pty Ltd (ii) Australia Ordinary 100 100
Rocket Replacements Pty Ltd (ii) Australia Ordinary 100 100
JB Hi-Fi Group (NZ) Limited New Zealand Ordinary 100 100
JB Hi-Fi NZ Limited New Zealand Ordinary 100 100
(i) JB Hi-Fi Limited is the head entity within the tax-consolidated group.
(ii) These wholly-owned subsidiaries are members of the tax-consolidated group.
In addition, JB Hi-Fi Limited has effective control over the JB Hi-Fi Limited Employee …show more content…
That is, transactions and balances related to the Australian operations are denominated in Australian dollars and transactions and balances related to the New Zealand operations are denominated in New Zealand dollars.
(ii) Cash flow and fair value interest rate risk
The Group is exposed to interest rate risk as it borrows funds at both fixed and floating interest rates. The risk is managed by the Group by maintaining an appropriate mix between fixed and floating rate borrowings and by the use of interest rate swap contracts. Hedging activities are evaluated regularly to align with interest rate views and defined risk appetite, ensuring optimal hedging strategies are applied, by either positioning the balance sheet or protecting interest expense through different interest rate cycles. Interest rate swap
The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in note 1(c):
Name of entity Country of incorporation Class of shares Equity holding
2012 2011
% %
Parent entity
JB Hi-Fi Limited (i)
Subsidiaries
JB Hi-Fi Group Pty Ltd (ii) Australia Ordinary 100 100
JB Hi-Fi (A) Pty Ltd (ii) Australia Ordinary 100 100
Clive Anthonys Pty Ltd (ii) Australia Ordinary 100 100
Rocket Replacements Pty Ltd (ii) Australia Ordinary 100 100
JB Hi-Fi Group (NZ) Limited New Zealand Ordinary 100 100
JB Hi-Fi NZ Limited New Zealand Ordinary 100 100
(i) JB Hi-Fi Limited is the head entity within the tax-consolidated group.
(ii) These wholly-owned subsidiaries are members of the tax-consolidated group.
In addition, JB Hi-Fi Limited has effective control over the JB Hi-Fi Limited Employee …show more content…
That is, transactions and balances related to the Australian operations are denominated in Australian dollars and transactions and balances related to the New Zealand operations are denominated in New Zealand dollars.
(ii) Cash flow and fair value interest rate risk
The Group is exposed to interest rate risk as it borrows funds at both fixed and floating interest rates. The risk is managed by the Group by maintaining an appropriate mix between fixed and floating rate borrowings and by the use of interest rate swap contracts. Hedging activities are evaluated regularly to align with interest rate views and defined risk appetite, ensuring optimal hedging strategies are applied, by either positioning the balance sheet or protecting interest expense through different interest rate cycles. Interest rate swap