NOTE 06
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:
Present value
of obligation
$’000
Fair value of
plan assets
$’000
Net
amount
$’000
Balance as at 1 July 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
Re-measurements
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 as at 30 June 2014
(40,331)
28,701
(11,630)
Included in consolidated income statement
Current service cost
(589)
-
(589)
Interest (expense)/income
(1,405)
1,002
(403)
(1,994)
1,002
(992)
Included in other comprehensive income
Re-measurements
Return on plan assets, excluding amounts
included in interest (expense)/income
-
2,253
2,253
(Loss)/gain from change in financial assumptions
4,071
-
4,071
Experience gains/(losses)
(1,070)
-
(1,070)
3,001
2,253
5,254
Contributions:
Employers
-
751
751
Plan participants
(275)
275
-
Payments from plan:
Benefit payments
1,596
(1,596)
-
1,321
(570)
751
Balance as at 30 June 2015
(38,003)
31,386
(6,617)
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