Financial statements
Section D: Notes to the THT and TIL financial statements for the year ended 30 June 2024
Section D: Notes to the THT and TIL financial statements for the year ended 30 June 2024
D11
Financial risk management and derivatives (continued)
Liquidity risk Contractual maturities of financial liabilities The table below shows the maturity profile of THT’s and TIL’s financial liabilities and includes derivative financial liabilities as well as derivative financial assets as these are directly relevant for an understanding of the contractual cash flow commitments. The cash flows disclosed in the below table are the contractual undiscounted future cash flows including principal and interest payments and therefore will not reconcile to the amounts disclosed in the consolidated balance sheet. For further information refer to Note B14. THT
Total contractual cash flows
2024
1 year or less
Over 1 to 2 years
Over 2 to 3 years
Over 3 to 4 years
Over 4 to 5 years
Over 5 years
Carrying amount
$M Trade payables
76
—
—
—
—
—
76
76
Borrowings¹
584 594
1,211 1,755
755 128
1,616
817 128
4,673 2,701
9,656 5,434
7,874 4,765
Related party payables Interest rate swaps²
128
(51)
(41) (72)
(31) (70)
(30)
(28) (50)
(73)
(254) (444)
(207) (512)
Cross-currency interest rate swaps¹
31 —
(144)
(139)
Concession liabilities
—
—
—
—
282
282
92
Total
1,234
2,853
782
1,570
867
7,444
14,750
12,088
2023 $M Trade payables
68
—
—
—
—
—
68
68
Borrowings¹
845 330
939
1,053 1,769
802
1,566
4,266 1,546
9,471 4,904
7,837 4,225
Related party payables Interest rate swaps²
1,121
69
69
(66)
(53)
(37) (72)
(30) (71)
(31)
(102) (189)
(319) (415)
(259) (511)
Cross-currency interest rate swaps¹
31 —
31 —
(145)
Concession liabilities
—
—
—
268
268
87
Total
1,208
2,038
2,713
770
1,459
5,789
13,977
11,447
1. Cash flows have been estimated using spot translation rates at the end of the reporting period. 2. Cash flows have been estimated using forward interest rates at the end of the reporting period.
TIL
Total contractual cash flows
2024
1 year or less
Over 1 to 2 years
Over 2 to 3 years
Over 3 to 4 years
Over 4 to 5 years
Over 5 years
Carrying amount
$M Trade payables
13 48
—
—
—
—
—
13
13
Related party payables
7 1 8
7 1 8
7 1 8
7 1 8
199
275
148
Lease liabilities
1
8
13
11
Total
62
207
301
172
2023 $M Trade payables
16 48 — 64
—
—
—
—
—
16
16
Related party payables
8 1 9
8 1 9
8 1 9
8 1 9
231
311
161
Lease liabilities
9
13
11
Total
240
340
188
Fair value measurements Financial instruments are measured either at fair value or their carrying amount approximates fair value, except for borrowings, related party receivables and payables, and financial assets (including concession notes and shareholder loan notes) which are subsequently measured at amortised cost. Refer to Note B14 for details on fair value measurements.
206
205
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