Lendlease Annual Report 2022

132 Lendlease Annual Report 2022 Notes to Consolidated Financial Statements continued JUNE 2022 JUNE 2021 9.c. Deferred Tax Assets and Liabilities Assets Liabilities Assets Liabilities $m $m $m $m Recognised Deferred Tax Assets and Liabilities Deferred tax assets and liabilities are attributable to the following: Loans and receivables 6 (74) 1 (91) Inventories 66 (315) 89 (371) Other financial assets - (54) 9 (49) Other assets 68 (13) 112 (4) Equity accounted investments 23 (363) 12 (417) Investment properties - (9) - (17) Property, plant and equipment 54 (11) 40 (12) Intangible assets 4 (11) 1 (19) Net defined benefit plans 11 (68) 16 (67) Trade and other payables 159 (13) 180 (10) Provisions 151 - 117 - Borrowings and financing arrangements 94 (13) 62 (8) Other financial and non financial liabilities 41 - 20 - Unused revenue tax losses recognised 134 - 99 - Unused capital tax losses recognised - - 9 - Items with a tax base but no carrying value 41 (26) 38 (26) Total deferred tax assets/(liabilities) 852 (970) 805 (1,091) Deferred tax set off (708) 708 (690) 690 Net deferred tax assets/(liabilities) 144 (262) 115 (401) 1 July 2021 Recognised in Income Recognised in Equity Other/ Foreign Exchange 30 June 2022 $m $m $m $m $m June 2022 Movement in temporary differences during the financial year: Loans and receivables (90) 22 - - (68) Inventories (282) 9 - 24 (249) Other financial assets (40) (11) - (3) (54) Other assets 108 (53) - - 55 Equity accounted investments (405) 103 (39) 1 (340) Investment properties (17) (1) - 9 (9) Property, plant and equipment 28 15 - - 43 Intangible assets (18) 11 - - (7) Net defined benefit plans (51) - (9) 3 (57) Trade and other payables 170 (26) - 2 146 Provisions 117 42 - (8) 151 Borrowings and financing arrangements 54 31 (11) 7 81 Other financial and non financial liabilities 20 21 - - 41 Unused revenue tax losses recognised 99 36 3 (4) 134 Unused capital tax losses recognised 9 (9) - - - Items with a tax base but no carrying value 12 12 - (9) 15 Total deferred tax assets/(liabilities) (286) 202 (56) 22 (118) Section A. Performance continued 9. Taxation continued