IAG Annual Report 2004 - Consolidated Statement of Financial Position

	Notes	CONSOLIDATED 2004 $m	CONSOLIDATED 2003 $m
Current assets
Cash assets		424	626
Receivables		2,716	2,597
Investments		2,474	2,585
Current tax assets		-	40
Other		924	811
Total current assets		6,538	6,659
Non-current assets
Receivables		547	435
Investments		7,285	7,246
Plant and equipment		165	139
Deferred tax assets		296	333
Intangible assets		1,473	1,626
Other		31	32
Total non-current assets		9,797	9,811
Total assets		16,335	16,470
Current liabilities
Payables		981	890
Interest-bearing liabilities		-	136
Current tax liabilities		222	106
Provisions		180	174
Outstanding claims		2,202	2,153
Unearned premium		3,386	3,223
Total current liabilities		6,971	6,682
Non-current liabilities
Interest-bearing liabilities		793	789
Deferred tax liabilities		99	66
Provisions		37	43
Gross life insurance policy liabilities		-	910
Outstanding claims		4,125	3,849
Unearned premium		86	78
Total non-current liabilities		5,140	5,735
Total liabilities		12,111	12,417
Net assets		4,224	4,053
Equity
Contributed equity		3,802	3,973
Foreign currency translation reserve		(5)	(2)
Accumulated losses	7	(259)	(396)
Equity attributable to shareholders of Insurance Australia Group Limited		3,538	3,575
Outside equity interests in controlled entities:
– Contributed equity		124	180
– Retained profits		39	20
– Unitholders' funds		523	278
Total equity	8	4,224	4,053

The above consolidated statement of financial position is to be read in conjunction with the notes to the financial statements and the discussion and analysis.

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