due to the reclassification of treasury shares. Initial application  has not affected basic and diluted earnings per share in these  periods.  The amount of the adjustment for each line item affected in the  Consolidated statement of cash flows is as follows:  Consolidated statement of cash flows (extract)  accordance with the transitional provisions, AASB 2012-2 has  been applied retrospectively. The application of AASB 2012 in  the current financial year has not had a material impact on the  financial position nor performance of the Consolidated Entity,  however has resulted in additional disclosures of certain netting  arrangements as provided in note 40.  AASB 2011-9  Amendments to Australian Accounting Standards  – Presentation of Items of Other Comprehensive Income AASB 2011-9  requires items included in other comprehensive  income (OCI) in the Statement of comprehensive income  (including prior period comparatives) to be grouped according  to whether they may be reclassified subsequently to profit or  loss. For the year ended 31 March 2014, all items have been  presented as “Items that may be reclassified subsequently to  profit or loss”.  AASB 2012-3  Amendments to Australian Accounting Standards  – Offsetting Financial Assets and Financial Liabilities AASB 2012-3 amends AASB 132  Financial Instruments:  Presentation  to clarify that to set off an asset with a liability:  Initial application of AASB 11, AASB 127 (Dec 2012) and AASB  128 (Dec 2012) has not resulted in any material impact in the  current or prior financial year.  AASB 12  sets out disclosures for interests in entities that are  subsidiaries, associates, joint ventures and unconsolidated  structured entities. The application of AASB 12 in the current  financial year has not affected any of the amounts recognised in  the financial statements, however has resulted in additional  disclosures of structured entities as provided in note 36. AASB  2012-10 provides relief from disclosing comparatives for  interests in unconsolidated structured entities when AASB 12 is  applied for the first time.  AASB 2012-3 is effective for annual reporting periods beginning  on or after 1 January 2014. The Consolidated Entity will first  apply AASB 2012-3 in the financial year beginning 1 April 2014.  The Consolidated Entity is continuing to assess the impact of  AASB 2012-3.  AASB 2011-4  Amendments to Australian Accounting Standards  to Remove Individual Key Management Personnel Disclosure  Requirements  AASB 2011-4 removes the individual Key Management  Personnel disclosure requirements from AASB 124  Related  Party Disclosures,  and is effective for annual reporting periods  beginning on or after 1 July 2013. The Consolidated Entity will  first apply the amendments in the financial year beginning 1  April 2014. Whilst the amendments may reduce the disclosures  provided, it will not affect any of the amounts recognised in the  financial statements.  AASB 9  Financial Instruments  and consequential amendments AASB 2012-2  requires additional disclosures of enforceable  master netting arrangements and their effect, even if assets and  liabilities are not offset on the statement of financial position. In  AASB 13  became effective in the current financial year. AASB  13 explains how to measure fair value and aims to enhance fair  value disclosures. In accordance with the transitional provisions,  AASB 13 has been applied prospectively from 1 April 2013. The  application of AASB 13 in the current financial year has not had  a material impact on the financial position nor performance of  the Consolidated Entity, however has resulted in additional fair  value disclosures as provided in note 39.  – the right of set-off must be available and legally enforceable  for all counterparties in the normal course of business, as  well as in the event of default, insolvency or bankruptcy  – certain gross settlement mechanisms (such as through a  clearing house) may be equivalent to net settlement  – master netting arrangements where the legal right of offset  is only enforceable on the occurrence of a future event  (such as default of the counterparty) continue to not meet  the requirements for netting.  AASB 2012-2  Amendments to Australian Accounting Standards  – Disclosures – Offsetting Financial Assets and Financial  Liabilities AASB 13  Fair value measurement New Accounting Standards and amendments to Accounting  Standards that are not yet effective  103  Consolidated  2013  $m  Amount of  adjustment  Cash flows from operating activities:  Life investment contract premiums received,  disposal of investment assets and other  unitholder contributions  (7,139)  Life investment contract payments, payments  for investment assets and other unitholder  maturities  7,139  Net cash flows used in operating activities  - 