Variable interest entities (Tables)

12 Months Ended

Dec. 31, 2013

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The carrying amount of consolidated assets and liabilities of Charleston Center LLC included within OEH’s consolidated balance sheets as of December 31, 2013 and 2012 are summarized as follows:



	2013	2012
December 31,	$’000	$’000

Current assets	10,517	18,511
Property, plant and equipment	187,856	183,793
Goodwill	40,395	40,395
Other assets	1,893	2,114

Total assets	240,661	244,813

Current liabilities	6,722	6,382
Third-party debt, including $1,805 and $1,795 current portion	96,150	97,945
Long-term accrued interest on subordinated debt	15,340	14,740
Deferred income taxes	60,892	60,326

Total liabilities	179,104	179,393

Net assets (before amounts payable to OEH of $92,692 and $90,807)	61,557	65,420

The carrying amounts and maximum exposures to loss as a result of OEH's involvement with its Peru rail joint venture are as follows:



	Carrying amounts		Maximum exposure
	2013	2012	2013	2012
December 31,	$’000	$’000	$’000	$’000

Investment	38,095	32,973	38,095	32,973
Due from unconsolidated company	4,957	4,803	4,957	4,803
Guarantees	—	—	5,920	7,558
Contingent guarantees	—	—	14,731	17,149

Total	43,052	37,776	63,703	62,483

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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