Corporate Report for the year ended 30 June 2022
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Section B: Notes to the Group financial statements for the year ended 30 June 2022
Section B: Notes to the Group financial statements for the year ended 30 June 2022
Concession summary The table below summarises the key balance sheet items of the Group’s concession assets by geographical region:
2022
North America
Carrying amount
$M Equity accounted investment carrying amount Service concession intangible assets carrying amount Concession financial asset (current and non-current)
Melbourne
Sydney Brisbane
—
7,487 5,426
—
3,037 1,224
10,524 16,632
2,663
7,319
—
— — —
— — —
369
369
Assets under construction 1
4,009
— — —
4,009
Other intangibles 2
52
52
Goodwill
1
260
205
466
Maintenance provision (current and non-current) Construction obligation liability (current and non-current)
(170) (796)
(265)
(658)
(35)
(1,128)
—
—
—
(796)
2021
North America
Carrying amount
$M Equity accounted investment carrying amount Service concession intangible assets carrying amount Concession financial asset (current and non-current)
Melbourne
Sydney Brisbane
—
3,037 5,867
—
2,714 1,223
5,751
2,780
7,557
17,427
—
— —
— —
358
358
Assets under construction 1
3,672
2
3,674
Goodwill
1
260
205
—
466
Maintenance provision (current and non-current) Construction obligation liability (current and non-current)
(171)
(256)
(620)
(31)
(1,078) (1,225)
(1,225)
—
—
—
1. Assets under construction are included within other intangible assets in the consolidated balance sheet. 2. Relates to rights associated with the agreement with the High-Quality Bulla spoil disposal site entered in June 2021. Funding has been provided to complete the site activation works on a rights reserved basis to enable the site to be available for the receipt and storage of project spoil in relation to the West Gate Tunnel Project. The amount capitalised represents the Group's share of funding the site activation works. KEY ESTIMATE AND JUDGEMENT The Group makes certain assumptions in calculating the recoverable amount of its goodwill (Note B16), other intangible assets (Note B17) and equity accounted investments (Note B25). These include assumptions around expected traffic flows (including COVID-19 impacts) and forecast operational costs. In performing the recoverable amount calculations for goodwill, the Group has applied the assumptions noted in Note B16. Management do not consider that any reasonably possible change in the assumptions will result in the carrying amount of a cash generating unit to which goodwill has been allocated exceeding its recoverable amount. Except for the A25 (refer to Note B17) and TC (refer to Note B25), management does not consider that reasonably possible changes in key assumptions would result in the recoverable amount being lower than the carrying amount of a service concession intangible asset or an equity accounted investment.
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