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) Interest rate risk (continued) Sensitivity to interest rate movements based on variable rate obligations is as follows:
THT 2021
TIL
2022
2022
2021
$M
$M
$M
$M
Interest rates +100bps Interest rates –100bps
1
1
3
6
(1)
(1)
(3)
(6)
Liquidity risk Contractual maturities of financial liabilities
The amounts disclosed in the following table are the contractual undiscounted cash flows of THT and TIL’s financial liabilities. For interest rate swaps, the cash flows have been estimated using forward interest rates applicable at the end of the reporting period. For further information refer to Note B15. THT
Total contractual cash flows
2022
1 year or less
Over 1 to 2 years
Over 2 to 3 years
Over 3 to 4 years
Over 4 to 5 years
Over 5 years
Carrying amount
$M Trade payables
74
—
—
—
—
—
74
74
Borrowings
588 134
542 134
842
1,089 1,675
761 164
5,690 1,400
9,512 4,551
7,667 4,110
Related party payables Interest rate swaps 1
1,044
(20)
(53)
(42)
(37)
(33)
(133)
(318)
(262) (448)
Cross-currency interest rate swaps 1
47 —
36 —
36 —
29 —
19 —
49
216 254
Concession notes
254
80
Total
823
659
1,880
2,756
911
7,260
14,289
11,221
Total contractual cash flows
2021
1 year or less
Over 1 to 2 years
Over 2 to 3 years
Over 3 to 4 years
Over 4 to 5 years
Over 5 years
Carrying amount
$M Trade payables
64
—
—
—
—
—
64
64
Borrowings
587 350
533 127
758 127
835
980
5,919 1,373
9,612 4,686
7,607 4,183
Related party payables Interest rate swaps 1
1,077
1,632
39 59 —
28 58 —
17 48 —
7
— 40 —
(38)
53
51
Cross-currency interest rate swaps 1
48 —
103 241
356 241
115
Concession notes
77
Total
1,099
746
950
1,967
2,652
7,598
15,012
12,097
1. The carrying value of the interest rate and cross-currency swaps are presented on a net basis. The gross position is disclosed in the first table of Note D11. TIL
Total contractual cash flows
2022
1 year or less
Over 1 to 2 years
Over 2 to 3 years
Over 3 to 4 years
Over 4 to 5 years
Over 5 years
Carrying amount
$M Trade payables
27
— — 29
— — 29
— — 29
— — 29
— —
27
27
Borrowings
634
634
614 472
Related party payables Interest rate swaps
36
890
1,042
5 1
6 1
6 1
6 1
5 1
30 —
58
49
Lease liabilities
5
6
Total
703
36
36
36
35
920
1,766
1,168
Total contractual cash flows
2021
1 year or less
Over 1 to 2 years
Over 2 to 3 years
Over 3 to 4 years
Over 4 to 5 years
Over 5 years
Carrying amount
$M Trade payables
22 21 34 16
—
— — 27 11
— — 27 10
— — 27
— —
22
22
Borrowings
609
630 960 123
598 440 113
Related party payables Interest rate swaps
27 13
818
9 1
64
Lease liabilities
1
1
1
1
1
6
6
Total
94
650
39
38
37
883
1,741
1,179
208 208
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