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Notes to the Financial Statements
Washington H. Soul Pattinson and Company Limited
Annual Report 2016
60
Parent Company Information
1
NOTE 1
PARENT COMPANY FINANCIAL INFORMATION (continued)
a) Interest bearing liabilities
The Parent company accepts deposits from its Directors and Director-related parties under normal
commercial terms and conditions. As at 31 July 2016, the balance of these deposits was $49.860 million
(2015: $47.326 million) refer note 23.
At 31 July 2016, the Parent company has no external borrowings from financial institutions and is not subject
to any externally imposed capital requirements.
b) Guarantees entered into by the Parent company
The Parent company provides cash backed guarantees for environmental bonds that are required by
CopperChem Limited. As at 31 July 2016 these guarantees totalled $5.013 million (2015: $5.013 million).
c) Contingent liabilities of the Parent company
Washington H. Soul Pattinson and Company Limited is in litigation with Perpetual Investment Management
Limited which is proceeding with cross-claims in seeking to have the cross-shareholding between
Washington H. Soul Pattinson and Company Limited and Brickworks Limited unwound.
Washington H. Soul Pattinson and Company Limited continue to vigorously defend cross-claim.
d) Contractual commitments for the acquisition of property, plant or equipment
The Parent company did not have any contractual commitments as at 31 July 2016 or 31 July 2015.