Corporate Report for the year ended 30 June 2022
Introduction and overview
Business performance
Governance and risk
Directors’ report
Remuneration report
Financial statements
Sustainability supplement
Security holder information
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
Other D18 Related party transactions
THL 1 2021 $'000
THT
Joint ventures
2022 $'000
2022 $'000
2021 $'000
Transactions with related parties Rental income
902,420 42,951 423,520
734,259 41,375 439,341
— — —
— — —
Concession fees Interest income
Finance income/(cost) on financial assets at amortised cost
—
—
51,683
(15,750)
Interest and finance charges paid/payable
(183,481)
(203,237)
— —
— —
Other expenses
(4,538)
(4,669)
Outstanding balances with related parties Current receivables
709,286 135,540
960,758
— — —
— — —
Current concession notes Non-current receivables
—
8,513,097
9,064,377
Non-current financial assets at amortised cost
—
—
665,200
627,450
Non-current concession notes
1,005,550 (315,405) (3,794,727)
854,768 (490,299) (3,693,005)
— — —
— — —
Current liabilities
Non-current liabilities
1. Transactions and outstanding balances between THT and THL.
Expected credit loss As at 30 June 2022, having considered the impacts from the economic uncertainty relating to COVID-19, near-term interest rates and inflation, management do not consider there to be evidence of a significant increase in credit risk since the initial recognition of the financial assets at amortised cost by THT. This is mainly due to there being no significant change in the nature of or the collectability of these balances. The loss allowance for these financial assets at amortised cost continues to be limited to 12 months of expected losses. These balances continue to have low credit risk as they have a low risk of default and the counterparties have a strong capacity to meet their contractual cash flow obligations in the near-term. As at 30 June 2022 the loss allowance was $27 million (2021: $27 million), reflecting management’s updated estimate of the collectability of these balances.
THL 1 2021 $'000
TIL
Joint ventures
2022 $'000
2022 $'000
2021 $'000
Transactions with related parties Revenue from services
—
— —
24,798
7,989
Interest income Interest expense Other expenses
14,256 (27,758) (13,244)
— — —
— — —
(36,145) (11,700)
Outstanding balances with related parties Current receivables
9,384
5,328
36,995
66,693
Non-current receivables
439,668
— —
—
—
Non-current financial assets at amortised cost
—
1,889
1,728
Current liabilities
(14,207) (451,131)
(12,068) (420,929)
(7,074)
(6,556)
Non-current liabilities
—
—
1. Transactions and outstanding balances between TIL and THL.
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