NOTE 06
NON-FINANCIAL ASSETS AND LIABILITIES
(CONTINUED)
(f) Provisions
Consolidated
2015
2014
Current
$’000
Non-
current
$’000
Total
$’000
Current
$’000
Non-
current
$’000
Total
$’000
Employee benefits
37,320 3,756 41,076
33,262 7,186 40,448
Restructuring costs
227
-
227
-
-
-
Incident provision
19,060
- 19,060
11,551
-
11,551
Other provisions
2,704
-
2,704
3,028
-
3,028
59,311 3,756 63,067
47,841 7,186 55,027
(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(v).
Arising from the Group’s current transformation program the restructure obligation provision reflects
the redundancy costs that have been provided for and paid during the financial year. The remaining
provision of $0.227m is expected to be fully utilised over the next twelve months.
The incident provision recognises the Group’s estimate of the liability with respect to costs
associated with damage caused by incidents such as derailments, which occurred whilst using the
Group’s rail infrastructure.
Other provisions relate to commercial disputes that are in the process of being resolved for which
outcomes are reasonably able to be estimated.
(ii) Movements in provisions
Movements in each class of provision during the financial year are set out below:
2015
Employee
benefits
$’000
Re-
structure
obligation
$’000
Incident
$’000
Other
$’000
Total
$’000
Carrying amount at 1 July
40,448
-
11,551 3,028 55,027
Additional provisions recognised
22,894 3,178 23,542 1,370 50,984
Amounts used during the year
(22,266)
(2,951) (16,033)
(1,694) (42,944)
Carrying amount at 30 June
41,076
227 19,060 2,704 63,067
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