Telstra 2007 Annual Report Download - page 186

Telstra Corporation Limited and controlled entities
183
Notes to the Financial Statements (continued)
(d) Acquisitions (continued)
Other information relating to our acquisitions
During fiscal 2007, we have recognised goodwill of $345 million (2006:
$324 million) on acquisition of our controlled entities. The following
factors contributed to the recognition of goodwill:
• forecast revenues and profitability of the acquired entities;
• cost synergies expected by combining our current operations with
the acquired entities; and
• strategic benefits to the operations of the Telstra Group.
We have identified and measured any significant intangible assets
separately from goodwill on acquisition of our controlled entities.
If our acquisitions during fiscal 2007 had occurred on 1 July 2006, our
adjusted consolidated income and consolidated profit after minority
interests for the year ended 30 June 2007 for the Telst ra Group would
have been $23,970 million and $3,255 million respectively.
If our acquisitions during fiscal 2006 had occurred on 1 July 2005, our
adjusted consolidated income and consolidated profit after minority
interests for the year ended 30 June 2006 for the Telst ra Group would
have been $23,312 million and $3,172 million respectively.
(e) Disposals
Australian Administration Services Group Pty Ltd (AAS)
On 31 August 2006, our controlled entity KAZ Group Pt y Limited sold
its 100% shareholdings in controlled ent ities Australian
Administration Services Pty Ltd, AAS Superannuation Services Pty Ltd
and Atune Financial Solutions Pty Ltd for a total considerat ion of $235
million.
It also included AAS’s 50% shareholding in a jointly controlled entity
Money Solutions Pty Ltd.
Other fiscal 2007 disposals
On 28 November 2006, our controlled entity Sensis Pty Ltd sold its 61%
shareholding in controlled entity Platefood Limited for a total
consideration of $10 million.
24. Notes to the cash flow statement (continued)
AAS
Year ended 30
June 2007
$m
Consideration on disposal
Cash consideration for disposal . . . . . . . . . . . . 235
Cash and cash equivalent s disposed of . . . . . . . . (23)
Costs of disposal . . . . . . . . . . . . . . . . . . . . . . (4)
Inflow of cash on disposal . . . . . . . . . . . . . . . 208