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
B16
Other intangible assets
2024
Other intangibles 3
Concession intangible assets
Assets under construction 1,2
$M Cost
Total 29,759 (10,653) 19,106
23,729 (9,884) 13,845
5,801
229
Accumulated amortisation Net carrying amount
(625)
(144)
5,176
85
2023
Other intangibles 3
Concession intangible assets
Assets under construction 1,2
$M Cost
Total 29,073
23,729 (9,085) 14,644
5,141
203
Accumulated amortisation Net carrying amount
(500)
(137)
(9,722)
4,641
66
19,351
Movement in other intangible assets
Other intangibles 3
Concession intangible assets
Assets under construction 1,2
Total
$M
$M
$M
$M
Net carrying amount at 1 July 2023
14,644
4,641
66 26
19,351
Additions
—
660
686
Amortisation charge
(799)
(125)
(7)
(931)
Net carrying amount at 30 June 2024
13,845
5,176
85
19,106
Net carrying amount at 1 July 2022
16,632
4,009
112
20,753
Additions
—
726
22 —
748
Disposals through loss of control of subsidiary 4
(1,154)
— 31 —
(1,154)
Transfers
35
(66)
—
Foreign exchange movements and other adjustments
(34)
—
(34)
Amortisation charge
(835)
(125)
(2)
(962)
Net carrying amount at 30 June 2023
14,644
4,641
66
19,351
1. Assets under construction are included within other intangible assets in the consolidated balance sheet. 2. Includes amortisation for 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). 3. Includes customer bases and software intangible assets. 4. Relates to the sale of the Group’s controlling interest in A25 in FY23 (refer to Note B21). Concession assets represent the Group's rights to operate roads under Service Concession Arrangements. Service Concession Arrangements are accounted for in accordance with AASB Interpretation 12, which establishes a framework for classification of the assets based on an intangible asset model and a financial asset model (bifurcated arrangements can also exist). The Group classifies assets under construction based on whether the consideration provides rights to an intangible asset or a financial asset. As at 30 June 2024, the Group does not have any concession financial assets, as the Group's only concession financial asset related to A25 which was disposed of as part of the sale of the Group’s controlling interest in A25 on 28 February 2023 (refer to Note B21).
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