Corporate Report for the year ended 30 June 2022
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Section D: Notes to the THT and TIL financial statements for the year ended 30 June 2022
Section D: Notes to the THT and TIL financial statements for the year ended 30 June 2022
D11 Derivatives and financial risk management (continued) Market risk (continued) Foreign exchange risk (continued) Effectiveness of hedging relationships designated are as follows: THT
Hedge ineffectiveness (gains)/losses recognised in profit and loss
Amount reclassified from other comprehensive income to profit and loss
Hedge (gains)/losses recognised in other comprehensive income
Line item in profit and loss that includes hedge ineffectiveness Net finance costs
Line item in profit and loss for reclassification Net finance costs
2022 $M
Foreign currency risk
(543)
(20)
—
2021 $M Foreign currency risk
371
48
Net finance costs
—
Net finance costs
Exposure to foreign currency risk at the reporting date, denominated in the currency in which the risk arises, was as follows:
THT 2021 USD
THT 2021 CHF
TIL
2022 USD
2022 CHF
2022 AUD
2021 AUD
$M 588
$M 812
$M
$M
$M 449
$M
Receivables
— —
— —
1
Payables
(553)
(715)
(28)
(9)
Borrowings
(2,143)
(2,143)
(765)
(765)
— —
— —
Cross-currency interest rate swaps
2,143
2,143
765
765
Net exposure
35
97
—
—
421
(8)
Sensitivity to exchange rate movements based on the translation of financial instruments held at the end of the period is as follows:
Movement in post-tax profit
Increase/(decrease) in equity
THT
2022
2021
2022
2021
$M
$M
$M
$M
AUD/USD + 10 cents – 10 cents AUD/CHF + 10 cents – 10 cents
(5)
(11)
(18)
(51)
6
14
25
67
— —
— —
(9)
(7)
12
9
Movement in post-tax profit
Increase/(decrease) in equity
TIL
2022
2021
2022
2021
$M
$M
$M
$M
USD/AUD + 10 cents – 10 cents
13
— —
— —
— —
(15)
206 206
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