Telstra 2012 Annual Report Download - page 130

Telstra Corporation Limited and controlled entities
100
Notes to the Financial Statements (continued)
Segment results (continued)
A reconciliation of underlying EBITDA contribution for reportable
segments to Telstra Group reported EBITDA, EBIT and profit before
income tax expense is provided below:
(b) On 27 March 2012, we sold our 67% shareholding in LMobile for
a total consideration of $3 million, resulting in a net loss of $17
million on disposal. Refer to note 20 for further details.
On 21 July 2011, we sold our 64.4% shareholding in Adstream
(Aust) Pty Ltd for a total consideration of $24 million, resulting in a
nil profit or loss on disposal. Refer to note 20 for further details.
On 17 September 2010, our controlled entity Telstra International
Holdings sold its 50.6% shareholding in SouFun, resulting in a net
gain of $69 million.
(c) We sold our 48.2% holding in Keycorp Limited on 8 December
2010 for a total consideration of $23 million, resulting in a gain on
sale of $8 million.
(d) On 21 October 2011, our controlled entity Octave Investments
Holdings Limited sold its ChinaM business for a total consideration
of $5 million resulting in a loss on disposal of $1 million. Refer to
note 20 for further details.
On 22 September 2010, our controlled entity Telstra Limited sold its
UK voice customer business for a total consideration of $14 million,
resulting in a loss on disposal of $16 million.
(e) The impairment of goodwill and intangibles of $189 million
mainly relates to the TelstraClear Group (impairment of goodwill of
$130 million) and LMobile Group (impairment of goodwill and other
intangible assets of $56 million). Refer to note 21 for further details.
The 2011 impairment of goodwill and intangibles relates to the
Octave Group (impairment of goodwill and customer base of $133
million) and the LMobile Group (impairment of goodwill of $27
million). Refer to note 21 for further details.
(f) The $33 million (2011: $30 million) gain from derecognition of
contingent consideration relates to the fiscal 2010 acquisition of the
LMobile Group. Refer to note 20 for further details.
(g) The $67 million (2011: nil) for the build of NBN related
infrastructure has been recognised as revenue in the income
statement, but excluded from reportable segment revenue.
(h) Revenue of $58 million and EBIT contribution of $6 million
related to SouFun, which was disposed of on 17 September 2010,
have been recorded in the income statement but excluded from
reportable segments results.
5. Segment information (continued)
Telstra Group
Year ended 30 June
2012 2011
Note $m $m
Underlying EBITDA contribution for reportable segments . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,872 11,560
All other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,544) (1,506)
Total all segments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,328 10,054
Amounts excluded from underlying results:
- net gain on disposal of non current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 12
- net (loss)/gain on disposal of controlled entities (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (17) 69
- net gain on disposal of associated entities (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -8
- net loss on the disposal of businesses (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1) (16)
- impairment in value of goodwill and intangibles (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 (189) (160)
- gain from derecognition of contingent consideration (f) . . . . . . . . . . . . . . . . . . . . . . . . . . 6 33 30
- revenue for the build of NBN related infrastructure (g). . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 -
- EBIT contribution from SouFun operations (h) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -6
- reversal of impairment in value of amount owed by joint ventures (i). . . . . . . . . . . . . . . . . . . .7 -147
- other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2) 1
Telstra Group EBITDA (reported) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,234 10,151
- Depreciation and amortisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 (4,412) (4,459)
Telstra Group EBIT (reported) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,822 5,692
- Net finance costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (888) (1,135)
Telstra Group profit before income tax expense (reported) 4,934 4,557