IGO Interactive Annual Report 2018

Notes to the consolidated financial statements 30 June 2018 (continued) 1 Segment information (continued) (f) Segment liabilities A reconciliation of reportable segment liabilities to total liabilities is as follows: 2018 $'000 2017 $'000 Total liabilities for reportable segments 848,603 960,837 Intersegment eliminations (733,072) (828,456) Unallocated liabilities: Deferred tax liabilities 131,638 139,903 Creditors and accruals of the parent entity 5,103 3,854 Provision for employee entitlements of the parent entity 3,014 2,520 Bank loans 140,815 197,041 Total liabilities as per the balance sheet 396,101 475,699 2 Revenue 2018 $'000 2017 $'000 Sales revenue Sale of goods 765,687 419,169 765,687 419,169 Other revenue Interest revenue 731 2,217 Other revenue 11,528 540 12,259 2,757 Total revenue 777,946 421,926 (a) Recognition and measurement Revenue is measured at the fair value of the consideration received or receivable to the extent that it is probable that the economic benefits will flow to the Group and revenue can be reliably measured. The following specific recognition criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when there is persuasive evidence indicating that there has been a transfer of risks and rewards to the customer. Sales revenue comprises gross revenue earned, net of treatment and refining charges where applicable, from the provision of products to customers, and includes hedging gains and losses. Sales are initially recognised at estimated sales value when the product is sold. Adjustments are made for variations in metals price, assay, weight and currency between the time of sale and the time of final settlement of sales proceeds. Interest revenue Interest revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset. Independence Group NL 12 76 — IGO ANNUAL REPORT 2018 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 30 JUNE 2018