Lendlease Annual Report 2022

158 Lendlease Annual Report 2022 Notes to Consolidated Financial Statements continued 30. Parent Entity Disclosures The following summarises the financial information of the Group’s parent entity, Lendlease Corporation Limited (the Company), as at and for the financial year ended 30 June 2022. COMPANY June 2022 June 2021 $m $m Results Profit/(Loss) after tax 111 (273) Other comprehensive income after tax - 1 Total comprehensive income/(loss) after tax 111 (272) Financial Position Current assets 1,790 1,452 Non current assets 2,934 2,938 Total assets 4,724 4,390 Current liabilities 1,092 843 Non current liabilities - - Total liabilities 1,092 843 Net assets 3,632 3,547 Issued capital 1,891 1,888 Treasury securities (77) (79) Reserves 222 198 Retained earnings 1,596 1,540 Total equity 3,632 3,547 In respect of the contingent liabilities of the Group disclosed in Note 27 ‘Contingent Liabilities’ , the Company participates in the provision of guarantees to Group entities. 31. Related Party Information 31.a. Consolidated Entities Intragroup balances and transactions, and any unrealised gains or losses arising from intragroup transactions, are eliminated in preparing the consolidated financial statements. Investments in subsidiaries are carried at their cost of acquisition less impairments in the Company’s financial statements. Lendlease Corporation Limited provides financing and treasury services, which includes working capital facilities and long term financing to certain subsidiaries. Interest is earned or incurred only on long term loans provided to or drawn with subsidiaries based on project specific risks and returns. Outstanding balances arising from working capital facilities and long term financing are typically unsecured and repayable on demand. In addition, guarantees are provided to particular Group entities in respect of their obligations. These include bonding and bank guarantee facilities used primarily by the Construction business as well as performance guarantees for certain Development business commercial built form developments. Guarantee fees are charged under normal terms and conditions. The following represents the transactions that occurred during the financial year and the balances outstanding at year end between Lendlease Corporation Limited and its consolidated entities: COMPANY June 2022 June 2021 $000s $000s Transactions Guarantee fees 29,240 27,557 Dividend income 209,601 105,261 Interest income 7,938 18,666 Interest expense 42,969 62,435 Outstanding Balances (Net of Provisions Raised) Receivables 664,196 432,805 Payables 905,198 739,327 Section E. Basis of Consolidation continued