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
B24 Business combinations and changes in ownership interests (continued) Changes in ownership interests in controlled subsidiaries (continued) Year ended 30 June 2021 changes in ownership interests (continued) Sale of 50% interest in Transurban Chesapeake (continued) Discontinued operations The contribution of discontinued operations included within the Group’s consolidated statement of comprehensive income and consolidated statement of cash flows for the nine months ended 31 March 2021 is detailed below: Income statement—Discontinued operations 2021 $M Toll revenue 77 Construction revenue 87 Total revenue 164 Total expenses 1 (158) Earnings before depreciation, amortisation, net finance costs and income taxes 6 Total amortisation and depreciation (21) Net finance costs (178) Loss before gain on disposal and income tax (193) Gain on disposal 2 5,126 Profit before income tax 4,933 Income tax benefit from discontinued operations 26 Income tax expense on gain on disposal (1,400) Profit for the period 3 3,559
Profit/(loss) attributable to: Ordinary security holders of the stapled group – Attributable to THL
42
– Attributable to THT/TIL
3,517 3,559
Profit attributable to ordinary security holders of the stapled group
Other comprehensive income Changes in the fair value of cash flow hedges, net of tax Exchange differences on translation of operations, net of tax Gains reclassified on disposal of subsidiary, net of tax 4 Other comprehensive loss for the period, net of tax
13
(91)
(198) (276)
Total comprehensive income for the period
3,283
Total comprehensive income/(loss) for the period is attributable to: Ordinary security holders of the stapled group – Attributable to THL
—
– Attributable to THT/TIL
3,283 3,283
Total comprehensive income attributable to ordinary security holders of the stapled group
1. Includes construction costs of $87 million. 2. Includes fair value gains of $6 million recognised in association with forward foreign exchange contracts to fix the Australian dollar value of the majority of the net U.S. dollar proceeds from the divestment of 50% of the Group's interest in TC. 3. Profit/(loss) of TIL for the year ended 30 June 2021 includes finance costs of $150 million (tax-effected: $146 million) relating to related party payables and loans that were settled on receipt of the proceeds of the transaction. Profit/(loss) of TIL for the year ended 30 June 2021 excludes fair value losses of $6 million (tax-effected: $4 million), which is recorded within a wholly owned subsidiary of THL. 4. Includes $13 million reversed against deferred tax assets. In addition to net finance costs included in the profit and loss from discontinued operations, $12 million of financing costs for the nine months ended 31 March 2021 were capitalised by TC and included in the carrying amount of assets under construction.
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