Note 41
Parent Entity financial information (continued)
(b) Contingent liabilities of the
parent entity
The parent entity accounts for costs associated
with rectifying rail access related incidents
following their occurrence. Income from
subsequent insurance and other recoveries is
only recognised when there is a contractual
arrangement in place and the income is probable
of being received. As a result, certain potential
insurance and or other recoveries have not
been recognised at year end, as their ultimate
collection is not considered probable.
(c) Contractual commitments for
the acquisition of property, plant or
equipment
As at 30 June 2012, the parent entity had
contractual commitments for the acquisition
of property, plant or equipment totalling $0.1b
(30 June 2011 ‑ $0.4b). These commitments are
not recognised as liabilities as the relevant assets
have not yet been received.
112
