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
B22 Equity accounted investments (continued) Summarised financial information of equity accounted investments (continued) Financing arrangements and credit facilities During the reporting period, equity accounted investments executed a number of financing activities including: October 2023 • WestConnex (STP JV) reached financial close on $550 million of senior secured notes under its AMTN Programme with a tenor of 7 years. December 2023 • WestConnex (STP JV) reached financial close on USD369 million ($583 million) and CAD200 million ($229 million) of US Private Placement (USPP) debt with a tenor of 10 years. May 2024 • NorthConnex reached financial close on a $205 million syndicated bank borrowing facility with a tenor of 12 years.
B23
Non-controlling interests
Non-controlling interests accounting policy Non-controlling interests are shown separately in the consolidated statement of comprehensive income, consolidated balance sheet and consolidated statement of changes in equity, and under the stapled structure of the Group consist of two components: • Non-controlling interest—other: external non-controlling interests relating to the results and equity of Transurban Queensland and Eastern Distributor subsidiaries; and • Non-controlling interests that relate to THT and TIL which relate to equity holders of the stapled group. Non-controlling interest – other Set out below is the summarised financial information for each material subsidiary (refer to Note B20) that has non-controlling interests (NCI) that are material and external to the Group and the total external NCI. The amounts disclosed are before intercompany eliminations.
Transurban Queensland Airport Motorway
Total NCI
37.50%
37.50%
24.90%
24.90%
2024 2023 $M $M $M $M $M $M 2023 2024 2023 2024
Summarised balance sheet Current assets
134
168
12
14
146
182
Non-current assets Current liabilities Non-current liabilities
8,441
8,865 (418)
1,272
1,330 (219) (797)
9,713
10,195
(474)
(187) (723)
(661)
(637)
(6,637) 1,464
(6,944) 1,671
(7,360) 1,838
(7,741) 1,999
Net assets
374
328
Carrying amount of NCI
547
625
92
81
639
706
Summarised statement of comprehensive income Revenue
915
839
168
169
1,083
1,008
Expenses
(813)
(787)
(115)
(123)
(928)
(910)
Profit for the year
102
52
53
46
155
98
Other comprehensive loss
(10)
(79) (27)
(6)
—
(16)
(79)
Total comprehensive income/(loss)
92 37
47 13
46 10 —
139
19 28
Profit allocated to NCI
18
50
Other comprehensive loss allocated to NCI
(3)
(30)
(2)
(5)
(30)
Summarised cash flows Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities
404
334 (28)
78 —
93 —
482
427
(12)
(12)
(28)
(418)
(308)
(82)
(110) (17)
(499)
(418)
Net decrease in cash and cash equivalents
(26)
(2)
(4)
(29)
(19)
176
175
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