CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2021 FINANCIALS 254 255 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 YEAR ENDED 31 DECEMBER 2021 42 OPERATING SEGMENTS (CONT’D) Information about reportable segments (cont’d) Property development Hotel operations Investment properties Total Others Total $’000 $’000 $’000 $’000 $’000 $’000 2021 Other material noncash items Negative goodwill on acquisition of subsidiaries 25,776 – 9,777 35,553 – 35,553 Impairment loss on other receivables (2,449) (272) (1,814) (4,535) (1,569) (6,104) Impairment losses reversed/ (recognised) on property, plant and equipment and investment properties – 95,742 3,437 99,179 (388) 98,791 Allowance made for foreseeable losses on development properties (5,641) – – (5,641) – (5,641) Investments in associates and joint ventures 702,285 410,195 316,654 1,429,134 424,891 1,854,025 Other segment assets 9,100,033 5,661,662 6,304,171 21,065,866 899,276 21,965,142 Reportable segment assets 9,802,318 6,071,857 6,620,825 22,495,000 1,324,167 23,819,167 Deferred tax assets 69,302 Tax recoverable 4,557 Total assets 23,893,026 Reportable segment liabilities 6,361,148 3,471,262 3,892,700 13,725,110 276,859 14,001,969 Deferred tax liabilities 196,068 Provision for taxation 362,960 Total liabilities 14,560,997 Additions to noncurrent assets* 11,138 121,016 638,016 770,170 97,762 867,932 * Non-current assets include property, plant and equipment, investment properties, investments in associates and joint ventures, and intangible assets. 42 OPERATING SEGMENTS (CONT’D) Information about reportable segments (cont’d) Property development Hotel operations Investment properties Total Others Total $’000 $’000 $’000 $’000 $’000 $’000 2020 Total revenue (including intersegment revenue) 965,940 658,669 422,065 2,046,674 183,779 2,230,453 Inter-segment revenue – (18,224) (60,647) (78,871) (43,156) (122,027) External revenue 965,940 640,445 361,418 1,967,803 140,623 2,108,426 (Loss)/Profit from operating activities (289,458) (437,083) (171,864) (898,405) 46,761 (851,644) Share of after-tax (loss)/profit of associates and joint ventures (404,913) (98,366) (367,629) (870,908) 25,132 (845,776) Finance income 76,681 10,060 47,947 134,688 33,930 168,618 Finance costs (122,154) (48,004) (83,456) (253,614) (8,395) (262,009) Net finance (costs)/ income (45,473) (37,944) (35,509) (118,926) 25,535 (93,391) Reportable segment (loss)/profit before tax (739,844) (573,393)* (575,002) (1,888,239) 97,428 (1,790,811) Depreciation and amortisation 2,684 140,366 123,875 266,925 20,204 287,129 * Hotel operations for 2020 comprise revenue and Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) attributable to hotel rooms owned by the Group amounting to $395.9 million and ($216.1) million respectively.
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