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Section D: Notes to the THT and TIL financial statements for the year ended 30 June 2026
Group structure D14 Equity accounted investments
Set out below is the summarised financial information for those joint ventures that are material to THT and TIL. The summarised financial information presented below is on a 100 per cent basis. Refer to Note B20 for the details of the STP JV, NWRG, TC and A25 equity accounted investments. Set out below is the reconciliation of the carrying amount of equity accounted investments.
THT NWRG Trust
THT STP JV
THT Total
TIL TC $M
TIL A25 $M 345
TIL Total
$M
$M
$M
$M
Carrying amount at 1 July 2025 Group's share of (loss)/profit, inclusive of impairment 1 Group’s share of other comprehensive income
3,963
—
3,963
3,218
3,563
(154)
64
(90)
82
(9)
73
61
7
68
2
—
2
Distributions received Capital contributions
(131)
(65)
(196)
(82)
(22)
(104)
— — —
— — —
— — —
99 —
—
99
Disposal
(285)
(285) (186)
Foreign exchange movements
(157)
(29)
Carrying amount at 30 June 2026
3,739
6
3,745
3,162
—
3,162
Carrying amount at 1 July 2024 Group’s share of (loss)/profit Group’s share of other comprehensive loss
4,426
— 54
4,426
3,268
375
3,643
(158)
(104)
55
(17)
38
(89)
(8)
(97)
(2)
—
(2)
Distributions received 2 Capital contributions
(216)
(46)
(262)
(251)
(19)
(270)
— —
— — —
— —
102
—
102
Foreign exchange movements
46
6
52
Carrying amount at 30 June 2025
3,963
3,963
3,218
345
3,563
1. In FY26, TIL 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. 2. In FY25, total distributions of $72 million paid by NWRG Trust exceeded the pre-distribution carrying amount of NWRG Trust equity accounted investment balance as at 30 June 2025 by $26 million. As a result, $26 million had been recorded as other revenue in the profit and loss.
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