Financial statements
Section B: Notes to the Group financial statements for the year ended 30 June 2024
Section B: Notes to the Group financial statements for the year ended 30 June 2024
Concession summary The table below summarises the key balance sheet items of the Group’s concession assets by geographical region: 2024 Melbourne Sydney Brisbane
North America
Carrying amount
$M Equity accounted investments Concession intangible assets Assets under construction 1,2
—
6,177 4,542
—
3,643
9,820
2,452 5,173
6,851
— — — — —
13,845
—
3
5,176
Goodwill
1
260
205
466
Maintenance provision (current and non-current) Construction obligation liability (current and non-current)
(157) (152)
(307)
(704)
(1,168)
—
—
(152)
2023
North America
Carrying amount
$M Equity accounted investment Concession intangible assets Assets under construction 1,2
Melbourne Sydney Brisbane
—
7,049 4,984
—
3,628
10,677 14,644
2,571 4,641
7,089
— — — — —
—
—
4,641
Goodwill
1
260
205
466
Maintenance provision (current and non-current) Construction obligation liability (current and non-current)
(165) (446)
(264)
(685)
(1,114)
—
—
(446)
1. Assets under construction are included within other intangible assets in the consolidated balance sheet. 2. Includes the component of the West Gate Tunnel Project attributable to CityLink funding contributions, for which funding sources began to be received and amortised from 1 July 2019 (refer to Note B18 for further details). KEY ACCOUNTING ESTIMATE AND JUDGEMENT The Group makes certain assumptions in calculating the recoverable amount of its goodwill (Note B15), other intangible assets (Note B16) and equity accounted investments (Note B22). These include assumptions around expected traffic performance and forecast operational costs. In performing the recoverable amount calculations for goodwill, the Group has applied the assumptions noted in Note B15. Management do not consider that any reasonably possible change in the assumptions will result in the carrying amount of a cash generating unit to which goodwill has been allocated exceeding its recoverable amount. The Group does not consider that reasonably possible changes in key assumptions would result in the recoverable amount being lower than the carrying amount of a concession intangible asset or an equity accounted investment, except for the A25 equity accounted investment (EAI). After the pre-tax impairment loss of $22 million recognised in FY24 for the A25 EAI, the carrying amount and recoverable amount are equal as at 30 June 2024 (refer to Note B22).
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