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Section B: Notes to the Group financial statements for the year ended 30 June 2026
B20 Equity accounted investments (continued) Set out below is the reconciliation of the carrying amount of equity accounted investments:
STP JV NWRG Total $M $M $M $M $M TC A25
Carrying amount at 1 July 2025
5,526
68 97 14
3,218
345
9,157
Group's share of (loss)/profit, inclusive of impairment 1,2 Group’s share of other comprehensive income
(259)
82
(9)
(89)
61
2
—
77
Distributions received Capital contributions
(138)
(65)
(82)
(22)
(307)
— — —
— — —
99 —
—
99
Disposal
(285)
(285) (186)
Foreign exchange movements
(157)
(29)
Carrying amount at 30 June 2026
5,190
114
3,162
—
8,466
Carrying amount at 1 July 2024 Group's share of (loss)/profit 1
6,143
34
3,268
375
9,820
(241)
122
55
(17)
(81)
Group’s share of other comprehensive loss
(89)
(16) (72)
(2)
—
(107) (629)
Distributions received Capital contributions
(287)
(251)
(19)
— —
— — 68
102
—
102
Foreign exchange movements
46
6
52
Carrying amount at 30 June 2025 9,157 1. The Group’s share of STP JV losses includes losses from STP Project Trust of $105 million (2025: $83 million) and STP Asset Trust of $154 million (2025: $158 million). 2. In FY26, the Group recorded a pre-tax impairment of its A25 equity accounted investment of $13 million, comprising a $10 million impairment of the A25 equity accounted investment and $3 million of transaction costs accrued in connection with the disposal. 5,526 3,218 345
169
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