Notes to the Financial Statements For the Year Ended 30 June 2022 Contents About this Report 102 Notes to the financial statements: 102 Our Current Performance 104 Note 1: Segment Information 104 Note 2: Business Acquisition 105 Note 3: Revenue and Expenses 105 Note 4: Tax 107 Note 5: Inventories 109 Note 6: People Costs 110 Our Future 113 Note 7: Research and Development 113 Note 8: Intangible Assets 113 Note 9: Property, Plant and Equipment 116 Returns, Risk & Capital Management 118 Note 10: Shareholder Returns 118 Note 11: Financial Risk Management 119 Note 12: Equity and Reserves 125 Note 13: Commitments and Contingencies 127 Efficiency of Operation 128 Note 14: Cash and Cash Equivalents 128 Note 15: Receivables, Contract Assets and Payables 128 Note 16: Provisions 130 Other Notes 131 Note 17: Related Party Transactions 131 Note 18: Detailed Information – People Costs 132 Note 19: Detailed Information – Shareholder Returns 135 Note 20: Auditor Remuneration 136 Note 21: Deed of Cross Guarantee 137 Note 22: Parent Entity Information 139 Note 23: Subsequent Events 139 Note 24: Amendments to Accounting Standards and Interpretations 140 About this Report Notes to the financial statements: Corporate information CSL Limited (“CSL”) is a for-profit company incorporated and domiciled in Australia and limited by shares publicly traded on the Australian Securities Exchange. This financial report covers the financial statements for the consolidated entity consisting of CSL and its subsidiaries (together referred to as the Group). The financial report was authorised for issue in accordance with a resolution of directors on 16 August 2022. A description of the nature of the Group’s operations and its principal activities is included in the directors’ report. a. Basis of preparation This general purpose financial report has been prepared in accordance with Australian Accounting Standards, other authoritative pronouncements of the Australian Accounting Standards Board, International Financial Reporting Standards (IFRS) and the Corporations Act 2001. It presents information on a historical cost basis, except for certain financial instruments, which have been measured at fair value. Amounts have been rounded off to the nearest hundred thousand dollars. The report is presented in US dollars, because this currency is the pharmaceutical industry standard currency for reporting purposes. It is the predominant currency of the Group’s worldwide sales and operating expenses. b. Principles of consolidation The consolidated financial statements comprise the financial statements of CSL and its subsidiaries as at 30 June 2022. CSL has control of its subsidiaries when it is exposed to, and has the rights to, variable returns from its involvement with those entities and when it has the ability to affect those returns. A list of significant controlled entities (subsidiaries) at year end is contained in Note 17. The financial results of the subsidiaries are prepared using consistent accounting policies and for the same reporting period as the parent company. In preparing the consolidated financial statements, all intercompany balances and transactions have been eliminated in full. The Group has formed a trust to administer the Group’s employee share plan. This trust is consolidated as it is controlled by the Group. CSL Limited Annual Report 2021/22 102
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