Telstra 2016 Annual Report Download - page 145
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143
Section Title | Telstra Annual Report 2016
Notes to the financial statements (continued) Telstra Financial Report 2016
Section 6. Our investments (continued)
Telstra Corporation Limited and controlled entities | 143
6.3 Investments in joint ventures and associated entities
The movements in the carrying amount of equity accounted
investments in our joint ventures and associated entities are
summarised in Table A.
We account for joint ventures and associated entities using the
equity method. Under this method we recognise the investment
at cost and subsequently adjust it for our share of profits or
losses, which are recognised in the income statement and our
share of other comprehensive income, which is recognised in
the statement of comprehensive income. Generally dividends
received reduce the carrying value of the investment.
Table A As at 30 June
Telstra Group Joint ventures Associated entities
2016 2015 2016 2015
$m $m $m $m
Carrying amount of investments at beginning of year 54196 192
Additional investments 2236 46
Disposal of investments --(29) -
Reclassification to other investment --(7) -
Impairment loss recognised in the income statement --(2) (2)
76194 236
Share of net profit/(loss) (1) (1) 16 20
Share of distributions --(29) (15)
Share of capital return --(16) (45)
Carrying amount of investments at end of year 65165 196