Lendlease Annual Report 2024

130 Lendlease Annual Report 2024 Notes to Consolidated Financial Statements continued 15. Notes to Statement of Cash Flows June 2024 June 2023 $m $m Reconciliation of Loss after Tax to Net Cash Used in Operating Activities Loss after tax (including external non controlling interests) (1,502) (232) Amortisation and depreciation 122 143 Net gain on sale of investments, plant and equipment - (232) Impairment of equity accounted investments - 2 Impairment of loan and receivables 22 20 Impairment of intangible assets 529 - Development Impairments 547 - Net foreign exchange loss and currency hedging costs 12 4 Net loss on fair value measurement of fair value through profit or loss assets 154 76 Share of profit of equity accounted investments (138) (28) Dividends/distributions from equity accounted investments 382 126 Fair value gain on investment properties - (13) Gain on repurchase of commercial notes (39) (63) Other (33) (24) Net cash from/(used) in operating activities before changes in assets and liabilities 56 (221) Changes in Assets and Liabilities Adjusted for Effects of Purchase and Disposal of Consolidated Entities and Operations During the Financial Year Decrease in receivables 597 199 Increase in inventories (343) (342) (Increase)/decrease in other assets (6) 7 (Increase)/decrease in net defined benefit plan asset (36) 12 (Decrease)/increase in payables (507) 118 (Decrease)/increase in operating derivatives assets/liabilities (5) 18 Increase/(decrease) in deferred tax items 4 (343) Increase/(decrease) in current tax 37 (42) Increase in other provisions 148 108 Net cash used in operating activities (55) (486) 16. Borrowings and Financing Arrangements Accounting Policies Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost using the effective interest rate method. Under the amortised cost method the difference between the amount initially recognised and the redemption value is recorded in the Income Statement over the period of the borrowing on an effective interest basis. Borrowings are referred to in this section using their redemption value when describing the terms and conditions. Section C. Liquidity and Working Capital continued