Lendlease Annual Report 2022

108 Lendlease Annual Report 2022 Table of Contents Consolidated Financial Statements Income Statement 109 Statement of Comprehensive Income 110 Statement of Financial Position 111 Statement of Changes in Equity 112 Statement of Cash Flows 113 Notes to Consolidated Financial Statements Section A. Performance 1. Segment Reporting 115 2. Dividends/Distributions 122 3. Earnings Per Share/Stapled Security (EPS/EPSS) 123 4. Revenue from Contracts with Customers 124 5. Share of Profit of Equity Accounted Investments 126 6. Other Income 126 7. Other Expenses 127 8. Finance Revenue and Finance Costs 129 9. Taxation 130 10. Events Subsequent to Balance Date 133 Section B. Investment 11. Inventories 134 12. Equity Accounted Investments 135 13. Other Financial Assets 140 Section C. Liquidity and Working Capital 14. Cash and Cash Equivalents 141 15. Notes to Statement of Cash Flows 142 16. Borrowings and Financing Arrangements 142 17. Issued Capital 144 18. Capital Management 145 19. Liquidity Risk Exposure 145 20. Commitments 146 21. Loans and Receivables 147 22. Trade and Other Payables 148 23. Provisions 150 Section D. Risk Management 24. Financial Risk Management 151 25. Hedging 153 26. Fair Value Measurement 154 27. Contingent Liabilities 155 Section E. Basis of Consolidation 28. Consolidated Entities 156 29. Employee Benefit Vehicles 157 30. Parent Entity Disclosures 158 31. Related Party Information 158 Section F. Other Notes 32. Intangible Assets 160 33. Discontinued Operations 161 34. Defined Benefit Plans 164 35. Employee Benefits 166 36. Reserves 172 37. Impact of New and Revised Accounting Standards 172 38. Other Significant Accounting Policies 172 Directors’ Declaration Directors' Declaration 174 Independent Auditor’s Report 175 Lendlease Corporation Limited (the Company) is incorporated and domiciled in Australia. The consolidated financial report of the Company for the financial year ended 30 June 2022 comprises the Company and its controlled entities including Lendlease Trust (LLT) (together referred to as the consolidated entity or the Group). The Group is a for profit entity and is an international property and investments group. Further information about the Group’s primary activities is included in Note 1 ‘Segment Reporting’. Shares in the Company and units in LLT are traded as one security under the name of Lendlease Group on the Australian Securities Exchange (ASX). The Company is deemed to control LLT for accounting purposes and therefore LLT is consolidated into the Group’s financial report. The issued units of LLT, however, are not owned by the Company and are therefore presented separately in the consolidated entity Statement of Financial Position within equity, notwithstanding that the unitholders of LLT are also the shareholders of the Company. The consolidated financial report was authorised for issue by the Directors on 22 August 2022.