NOTE 08
NON-FINANCIAL ASSETS AND LIABILITIES (CONTINUED)
(g) Non-current liabilities - Defined benefit plans
(i)
Consolidated Balance Sheet amounts
The amounts recognised in the balance sheet and the movements in the net defined benefit obligation over the year as
follows (refer to note 2(c)):
Restated
Present value of
obligation
$’000
Restated
Fair value of
plan assets
$’000
Restated
Net amount
Restated
$’000
Balance sheet as at 1 July 2012
(35,228)
22,232
(12,996)
Included in consolidated income statement
Current service cost
(602)
-
(602)
Interest (expense)/income
(1,053)
667
(386)
(1,655)
667
(988)
Included in other comprehensive income
Remeasurements
Return on plan assets, excluding amounts included in
interest (expense)/income
-
2,904
2,904
(Loss)/gain from change in demographic assumptions
(1,260)
-
(1,260)
(Loss)/gain from change in financial assumptions
3,609
-
3,609
Experience gains/(losses)
(1,379)
-
(1,379)
970
2,904
3,874
Other
Contributions:
Employers
-
751
751
Plan participants
(240)
240
-
Payments from plan:
Benefit payments
1,653
(1,653)
-
1,413
(662)
751
Balance sheet as at 30 June 2013
(34,500)
25,141
(9,359)
Included in consolidated income statement
Current service cost
(536)
-
(536)
Interest (expense)/income
(1,280)
939
(341)
(1,816)
939
(877)
Included in other comprehensive income
Remeasurements
Return on plan assets, excluding amounts included in
interest (expense)/income
-
2,732
2,732
(Loss)/gain from change in financial assumptions
(2,445)
-
(2,445)
Experience gains/(losses)
(2,432)
-
(2,432)
(4,877)
2,732
(2,145)
Contributions:
Employers
-
751
751
Plan participants
(258)
258
-
Payments from plan:
Benefit payments
1,120
(1,120)
-
862
(111)
751
Balance sheet as at 30 June 2014
(40,331)
28,701
(11,630)
70
