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## NOTEs TO THE FINANCIAL sTATEMENTs 

FAIRFAx MEDIA LIMITED AND CONTROLLED ENTITIES FOR THE PERIOD ENDED 30 JUNE 2013 

## 9. INVENTORIEs 

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During the year, newsprint and paper expense (excluding cartage) of $164.0 million (2012: $208.6 million) was recognised in the income statement. 

During the year, a $6.1 million (2012: nil) write down to net realisable value on raw materials and stores was recognised within other expenses in the income statement. 

## 10. AssETs AND LIABILITIEs HELD FOR sALE 

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## FReeHold lAnd And BuildinGS 

Assets held for sale comprise properties in Australia and New Zealand that are being actively marketed and for which the sale is highly probable. During the current year, three of these properties were sold. 

Prior to being transferred to held for sale, the properties are remeasured at the lower of carrying amount and fair value less costs to sell. An impairment charge of $0.5 million (2012: nil) was recognised in the income statement against the assets. 

## FAiRFAx CoMMuniTy neTWoRk lTd diSPoSAl GRouP 

On 13 July 2012, the sale of Fairfax Community Network Ltd was completed. 

