Corporate Report for the year ended 30 June 2022
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Section A: Group financial statements for the year ended 30 June 2022
Section A: Group financial statements for the year ended 30 June 2022
Transurban Holdings Limited Consolidated statement of cash flows for the year ended 30 June 2022 (continued) (b)Reconciliation of liabilities arising from financing activities
Debt principal related
Other Loan Facilities (included in other liabilities)
derivatives (included in assets / liabilities) 1
Total debt related financial instruments
Borrowings current
Borrowings non-current
$M 750
$M
$M
$M
$M
Balance at 1 July 2021
17,081
(856)
81 — —
17,056
Proceeds from borrowings (net of costs)
68
743
— — — — —
811
Repayment of borrowings
(783)
(660)
(1,443)
Proceeds from other loan facilities Repayment of other loan facilities
— —
— — 83
281
281
(116)
(116) (467)
Total cash flows
(715)
165
Non-cash changes Foreign exchange movements
32
393
(552)
— — —
(127)
Transfer
996
(996)
— — —
— 19
Amortisation of borrowing costs
— —
19 —
West Gate Tunnel settlement adjustments 2
(39) (39)
(39)
Total non-cash changes Balance at 30 June 2022
1,028 1,063
(584)
(552)
(147)
16,580
(1,408)
207
16,442
1. Total derivatives balance as at 30 June 2022 is an asset of $808 million. The difference in carrying value to the table above relates to interest rate swap contracts, forward exchange contracts, the interest portion of cross-currency interest rate swap contracts and credit valuation and debit valuation adjustments which are excluded from the balances above as they do not relate to financing activities. 2. The net amount of $39 million predominantly relates to advance payments initially funded by the State of Victoria and paid by Transurban to the West Gate Tunnel Design & Construct (D&C) Subcontractor in the prior year which were offset against the State Loan during the current financial year, as part of the West Gate Tunnel settlement finalised on 23 March 2022 (refer to Note B8).
Debt principal related
Other Loan Facilities (included in other liabilities)
derivatives (included in assets / liabilities) 1
Total debt related financial instruments
Borrowings current
Borrowings non-current
$M
$M
$M
$M
$M
Balance at 1 July 2020
1,553
19,525
(1,436)
7
19,649
Proceeds from borrowings (net of costs)
400
2,403
61
— —
2,864
Repayment of borrowings
(1,993)
(490)
(113)
(2,596)
Proceeds from other loan facilities Repayment of other loan facilities
— —
— —
— —
120
120
(46)
(46)
Total cash flows
(1,593)
1,913
(52)
74
342
Non-cash changes Disposals through loss of control of subsidiary 2
— 40
(2,598) (1,047)
—
— — — — — — — 81
(2,598)
Foreign exchange movements
632
(375)
Transfer
750
(750)
— — — —
— 21 26
Capitalised interest
— — —
21 26
Amortisation of borrowing costs Non substantial modification gain
(9)
(9)
Total non-cash changes Balance at 30 June 2021
790 750
(4,357) 17,081
632
(2,935) 17,056
(856)
1. Total derivatives balance as at 30 June 2021 is a liability of $554 million. The difference in carrying value to the table above relates to interest rate swap contracts, forward exchange contracts, the interest portion of cross-currency interest rate swap contracts and credit valuation and debit valuation adjustments which are excluded from the balances above as they do not relate to financing activities. 2. Relates to the deconsolidation of the Group's ownership interest in TC upon divestment of 50% ownership interest (refer to Note B24).
The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.
127 127
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