Notes to the Financial Statements Our Current Performance 1 D uring the year ended 30 June 2022, the Group impaired certain intellectual property assets associated with the Calimmune acquisition ($112.6m). The Group also derecognised the related contingent consideration liabilities ($62.5m) for amounts payable to former shareholders of Calimmune as well as the reversal of the related deferred tax liabilities ($25.3m). The net impact to the profit or loss from all related adjustments was a loss of $24.8m. Note 1: Segment Information The Group’s segments represent strategic business units that offer different products and operate in different industries and markets. They are consistent with the way the CEO (who is the chief operating decision-maker) monitors and assesses business performance in order to make decisions about resource allocation. Performance assessment is based on EBIT (earnings before interest and tax) and EBITDA (earnings before interest, tax, depreciation, amortisation and impairment). These measures are different from the profit or loss reported in the consolidated financial statements which is shown after net interest and tax expense. This is because decisions that affect net interest expense and tax expense are made at the Group level. It is not considered appropriate to measure segment performance at the net profit after tax level. The Group’s operating segments are: • CSL Behring – manufactures, markets, and distributes plasma therapies (plasma products and recombinants), conducts early-stage research on plasma and non-plasma therapies, excluding influenza, receives licence and royalty income from the commercialisation of intellectual property and undertakes the administrative and corporate function required to support the Group. • CSL Seqirus – manufactures and distributes non-plasma biotherapeutic products and develops influenza related products. CSL Behring US$m CSL Seqirus US$m Consolidated Entity US$m 2022 2021 2022 2021 2022 2021 Sales and service revenue 8,359.6 8,427.8 1,776.7 1,551.7 10,136.3 9,979.5 Influenza pandemic facility reservation fees – – 162.2 160.1 162.2 160.1 Royalty and license revenue 194.6 125.7 – – 194.6 125.7 Other income 44.2 20.3 24.6 24.4 68.8 44.7 Total segment revenue 8,598.4 8,573.8 1,963.5 1,736.2 10,561.9 10,310.0 Segment gross profit 4,579.9 4,847.6 1,152.4 995.7 5,732.3 5,843.3 Segment gross profit % 53.3% 56.5% 58.7% 57.3% 54.3% 56.7% Segment EBIT 2,192.7 2,646.9 734.7 483.1 2,927.4 3,130.0 Consolidated operating profit 2,927.4 3,130.0 Finance costs (165.2) (170.8) Finance income 17.4 3.9 Consolidated profit before tax 2,779.6 2,963.1 Income tax expense (524.9) (588.1) Consolidated net profit after tax 2,254.7 2,375.0 Amortisation 67.4 66.6 29.4 29.3 96.8 95.9 Depreciation 375.9 343.4 69.8 56.0 445.7 399.4 Impairment1 125.8 93.3 – 1.0 125.8 94.3 Segment EBITDA 2,761.8 3,150.2 833.9 569.4 3,595.7 3,719.6 CSL Behring US$m CSL Seqirus US$m Intersegment Elimination US$m Consolidated Entity US$m 2022 2021 2022 2021 2022 2021 2022 2021 Segment assets 25,881.6 15,907.3 3,041.3 2,573.3 (576.9) (323.7) 28,346.0 18,156.9 Segment liabilities 12,665.1 8,881.2 1,618.1 1,156.3 (514.7) (261.9) 13,768.5 9,775.6 Other segment information – capital expenditure Payments for property, plant and equipment (“PPE”) 921.3 1,048.7 157.5 147.6 – – 1,078.8 1,196.3 Payments for intangibles 161.6 463.1 7.3 7.7 – – 168.9 470.8 Total capital expenditure 1,082.9 1,511.8 164.8 155.3 – – 1,247.7 1,667.1 CSL Limited Annual Report 2021/22 104
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