Babcock & Brown

Deferred Income & Fees
Unearned fees
Deferred gain on sale
Deferred Fees
Total
30 June 2006
$’m
59.4
51.9
153.0
264.3
31 Dec 2005
$’m
42.5
53.3
105.8
201.6
• The Group has substantial unrecognised income and profits deferred, as a consequence of
equity accounting for interests in unlisted associates and profits deferred from consolidated
subsidiaries. Deferred income and fees are recognised over time, as part of the sale of
investments by the associate, the sale of our interest in the associate, or the sell down of the
consolidated investment.
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