NOTE 08
NON-FINANCIAL ASSETS AND LIABILITIES (CONTINUED)
(f) Provisions
Consolidated
2014
2013
Notes
Current
$’000
Non-
current
$’000
Total
$’000
Current
$’000
Non-
current
$’000
Total
$’000
Employee benefits
8(f)(i)
33,262
7,186
40,448
29,739
6,032
35,771
Incident provision
8(f)(i)
11,551
-
11,551
21,917
-
21,917
Other provisions
3,028
-
3,028
3,379
-
3,379
47,841
7,186
55,027
55,035
6,032
61,067
(i)
Information about individual provisions and significant estimates
For information related to the Group’s accounting policies related to employee provisions refer to note 1(w) and for
changes to accounting policies note 2.
The incident provision recognises the Group’s estimate of the liability with respect to costs associated with damage
caused with incidents such as derailments, which occurred whilst using the Group’s rail infrastructure. Other provisions
is comprised of commercial disputes with customers that are in the process of being resolved.
(ii) Movements in provisions
Movements in each class of provision during the financial year are set out below:
2013
Employee
benefits
$’000
Incident
$’000
Other
$’000
Total
$’000
Carrying amount at 1 July
30,077
31,296
132
61,505
Additional provisions recognised
17,945
21,499
4,539
43,983
Provisions transferred in from
asset maintenance program
employees
3,279
-
-
3,279
Payments/other sacrifices of
economic benefits
(15,530)
(30,878)
(1,292)
(47,700)
Carrying amount at end of 30 June
35,771
21,917
3,379
61,067
2014
Employee
benefits
$’000
Incident
$’000
Other
$’000
Total
$’000
Carrying amount at 1 July
35,771
21,917
3,379
61,067
Additional provisions recognised
16,931
5,440
1,298
23,669
Amounts used during the year
(12,254)
(15,806)
(1,649)
(29,709)
Carrying amount at 30 June
40,448
11,551
3,028
55,027
69
