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
D19 Parent entity disclosures Summary financial information The individual financial statements for the parent entities (THT and TIL) show the following aggregate amounts:
THT¹ 2021
TIL
2022
2022
2021
$M
$M
$M
$M
Balance sheet Current assets
718
1,075
350
316 928
Total assets
19,680
16,758
1,493
Current liabilities Total liabilities
1,836 3,683
1,665 3,411
— —
— —
Net assets
15,997
13,347
1,493
928
Shareholder's equity
19,354
16,527
1,030
599
Reserves
3
4
172 291
63
(Accumulated losses)/retained earnings
(3,360)
(3,184)
266 928
Total equity
15,997
13,347
1,493
Profit for the year
1,022
670
25
292
Exchange differences on translation of USD balances, net of tax
—
—
109 134
(54)
Total comprehensive income
1,022
670
238
1. Comparatives have been restated to disclose distributions received and recognised in FY21.
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 in each respective parent entity. 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 $5 million for THT (2021: $8 million) and $2 million for TIL (2021: $1 million), reflecting management’s updated estimate of the collectability of these balances. Guarantees entered into by the parent entity There are cross guarantees given by Transurban International Limited, Transurban International Holdings Pty Ltd, Transurban Maple Holdings Pty Ltd, Transurban Maple Investments Pty Ltd, Transurban Technology Investments Holdings Pty Ltd and Transurban Technology Investments Pty Ltd as described in Note D17.
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