Contents About this Report 110 Notes to the financial statements: 110 Our Current Performance 112 Note 1: Segment Information 112 Note 2: Revenue and Expenses 115 Note 3: Tax 117 Note 4: Inventories 119 Note 5: People Costs 119 Our Future 122 Note 6: Research and Development 122 Note 7: Intangible Assets 122 Note 8: Property, Plant and Equipment 124 Returns, Risk & Capital Management 125 Note 9: Shareholder Returns 125 Note 10: Financial Risk Management 126 Note 11: Equity and Reserves 132 Note 12: Commitments and Contingencies 133 Efficiency of Operation 134 Note 13: Receivables, Contract Assets and Payables 134 Note 14: Provisions 135 Other Notes 136 Note 15: Related Party Transactions 136 Note 16: Detailed Information - People Costs 137 Note 17: Detailed Information - Shareholder Returns 141 Note 18: Auditor Remuneration 141 Note 19: Deed of Cross Guarantee 142 Note 20: Parent Entity Information 144 Note 21: Non-Controlling Interests 144 Note 22: Subsequent Events 145 Note 23: Amendments to Accounting Standards and Interpretations 145 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 12 August 2024. 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 million dollars. The report is presented in US dollars, because this currency is the pharmaceutical industry standard currency for reporting purposes. It is also 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 2024. 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 15. The consolidated financial statements also includes the results of entities held for sale. Further details are contained in Note 15. Where the Group's interest in a subsidiary is less than 100%, the interest attributable to outside shareholders is reflected in non-controlling interest. Non-controlling interests in the financial results and equity of subsidiaries are shown separately in the consolidated statement of comprehensive income, statement of changes in equity and balance sheet respectively. Further details about the Group's non-controlling interest is contained in Note 21. 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 scheme. This trust is consolidated as it is controlled by the Group. 110 Notes to the Financial Statements For the Year Ended 30 June 2024 Limited Annual Report 2023/24
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