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Section B: Notes to the Group financial statements for the year ended 30 June 2026
B11 Reserves
Foreign currency translation
Transactions with NCI―other
Cash flow hedges
Cost of hedging
Share based payments
Common control
Total
$M (94)
$M (39) (16)
$M
$M (81)
$M
$M
$M
Balance at 1 July 2025
2
(501)
(297)
(1,010)
Revaluation―gross
226
— —
58
— —
— —
268
Deferred tax
(68)
5
(10)
(73)
Gains reclassified on disposal of equity accounted investment Employee performance awards issued Share of other comprehensive loss of equity accounted investments, net of tax Transactions between members of the stapled group
—
—
—
(25)
—
—
(25)
—
—
3
—
—
—
3
14
—
—
—
—
—
14
— 78
—
—
—
(1,032) (1,533)
—
(1,032) (1,855)
Balance at 30 June 2026
(50)
5
(58)
(297)
Balance at 1 July 2024
(59) (27)
(21) (26)
2
(71) (15)
— — —
(297)
(446)
Revaluation―gross
— —
— —
(68)
Deferred tax
8
8
5
21
Share of other comprehensive loss of equity accounted investments, net of tax Transactions between members of the stapled group
(16)
—
—
—
—
—
(16)
—
—
—
—
(501) (501)
—
(501)
Balance at 30 June 2025
(94)
(39)
2
(81)
(297)
(1,010)
Nature of reserves Purpose of reserves Cash flow hedges
Used to record gains and losses on cash flow hedging instruments (to the extent these are part of an effective hedge relationship), which are used by the Group to mitigate the risk of movements in exchange rates and interest rates, as outlined in Note B14. Used to record changes in the fair value of the Group's hedging instruments attributable to movements in currency basis spread (where this element is excluded from the designated hedge relationship) as outlined in Note B14. Used to recognise the grant date fair value of securities issued to employees and deferred securities granted to employees but not yet vested. Used to record exchange differences, including gains or losses relating to the effective component of net investment hedges, arising on translation of the United States and Canadian operations of the Group, as outlined in Note B14. Used to record the interest-free component of intercompany loans, measured at initial recognition (or other relevant measurement date), which remains in reserves until maturity, when it is reclassified to retained earnings. Used to record differences which may arise as a result of transactions with non-controlling interests that do not result in a loss of control.
Cost of hedging
Share based payments
Foreign currency translation Common control
Transactions with NCI―other
141
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