113 AGL Energy Limited Annual Report 2012 Closed Group 2012  $m 2011  $m Statement of financial position Current assets Cash and cash equivalents 1,407.4  752.9  Trade and other receivables 1,392.5  1,182.4  Inventories 134.6  112.7  Other financial assets 153.1  195.1  Other assets 45.5  25.9  Total current assets 3,133.1  2,269.0  Non-current assets Trade and other receivables –  0.5  Investments accounted for using the equity method 31.6  240.7  Exploration and evaluation assets 651.8  655.1  Oil and gas assets 483.8  461.4  Property, plant and equipment 1,974.7  1,543.8  Intangible assets 2,334.8  2,300.0  Deferred tax assets 53.4  –  Other financial assets 2,496.4  1,709.3  Other assets 0.4  0.4  Total non-current assets 8,026.9  6,911.2  Total assets 11,160.0  9,180.2  Current liabilities Trade and other payables 1,047.5  769.2  Borrowings –  886.7  Provisions 80.7  94.3  Current tax liabilities 11.0  167.2  Other financial liabilities 483.0  466.5  Other liabilities 8.6  15.1  Total current liabilities 1,630.8  2,399.0  Non-current liabilities Borrowings 1,865.0  272.9  Provisions 163.4  161.6  Deferred tax liabilities 349.0  302.7  Other financial liabilities 282.7  92.2  Other liabilities 124.5  54.2  Total non-current liabilities 2,784.6  883.6  Total liabilities 4,415.4  3,282.6  Net assets 6,744.6  5,897.6  Equity Issued capital 5,227.3  4,244.6  Reserves 32.0  (37.4) Retained earnings 1,485.3  1,690.4  Total equity 6,744.6  5,897.6  Summary of movements in retained earnings Retained earnings at beginning of financial year 1,690.4  1,452.3  Adjustment on correction of unbilled distribution liability, net of income tax (79.9) –  Restated balance at beginning of financial year 1,610.5  1,452.3  Profit for the year 220.2  495.4  Dividends paid or provided (278.2) (268.4) Actuarial (loss)/gain on defined benefit plans, net of tax (49.0) 2.5  Share of actuarial (loss)/gain on defined benefit plans attributable to associates (18.2) 8.6  Retained earnings at end of financial year 1,485.3  1,690.4