2009-10 Annual Report - Australia Post
2009-10 Annual Report - Australia Post
2009-10 Annual Report - Australia Post
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20 Provisions<br />
Current provisions<br />
annual leave<br />
long service leave<br />
Workers’ compensation<br />
separations and redundancies (1)<br />
other employee<br />
20<strong>10</strong><br />
$m<br />
consolidated corporation<br />
Balance at 30 June 711.8 590.1 702.5 583.0<br />
non-current provisions<br />
long service leave<br />
Workers’ compensation<br />
Make good (2)<br />
Balance at 30 June 167.6 170.2 162.6 165.3<br />
total provisions 879.4 760.3 865.1 748.3<br />
(1) the current year separations and redundancies provision primarily relates to the business renewal program announced on 20 april 20<strong>10</strong> (<strong>2009</strong>: $nil). the provision recognised<br />
comprises the expected severance payments, employee entitlements (including notice period), outplacement costs and payroll tax based on the location of the employee, staff level<br />
affected by the restructuring and their anticipated years of service. in estimating the expected severance payments, historical severance payments have also been considered.<br />
(2) provision is made for the estimated cost to make good operating leases entered into by the group. the estimated cost is based on management’s best estimate of the cost<br />
to restore a square metre of floor space and is dependent on the nature of the building being leased. the expected timing of the make good cost is based on the expiry of<br />
each underlying individual lease agreement.<br />
movements in provisions<br />
Movements in the make good provision during the financial year are set out below:<br />
make good provision<br />
Balance at 1 July<br />
reassessments and additions<br />
unused amount reversed<br />
payments made<br />
unwinding and discount rate adjustment<br />
Balance at 30 June 46.6 45.4 43.2 41.9<br />
21 Other non-current liabilities<br />
loans from controlled entities (refer note 28)<br />
other payables<br />
total other non-current liabilities 19.9 11.4 22.3 14.3<br />
22 Movements in retained profits<br />
Balance at 1 July<br />
net profit<br />
dividends paid<br />
net actuarial losses (superannuation asset)<br />
other movements in retained profits<br />
174.8<br />
338.8<br />
23.7<br />
141.9<br />
32.6<br />
38.0<br />
83.0<br />
46.6<br />
45.4<br />
3.4<br />
(1.9)<br />
(1.4)<br />
1.1<br />
–<br />
19.9<br />
1,441.3<br />
89.8<br />
(171.9)<br />
(204.0)<br />
(2.0)<br />
<strong>2009</strong><br />
$m<br />
183.2<br />
316.0<br />
24.4<br />
20.2<br />
46.3<br />
37.9<br />
86.9<br />
45.4<br />
48.3<br />
4.0<br />
(4.1)<br />
(4.4)<br />
1.6<br />
–<br />
11.4<br />
2,405.2<br />
260.6<br />
(427.8)<br />
(788.7)<br />
(8.0)<br />
20<strong>10</strong><br />
$m<br />
170.3<br />
337.6<br />
23.7<br />
138.8<br />
32.1<br />
36.4<br />
83.0<br />
43.2<br />
41.9<br />
3.5<br />
(1.9)<br />
(1.4)<br />
1.1<br />
2.9<br />
19.4<br />
1,415.0<br />
81.6<br />
(171.9)<br />
(204.0)<br />
–<br />
<strong>2009</strong><br />
$m<br />
179.0<br />
314.9<br />
24.4<br />
18.9<br />
45.8<br />
36.5<br />
86.9<br />
41.9<br />
46.2<br />
2.8<br />
(4.1)<br />
(4.4)<br />
1.4<br />
2.9<br />
11.4<br />
2,386.1<br />
245.4<br />
(427.8)<br />
(788.7)<br />
–<br />
Balance at 30 June 1,153.2 1,441.3 1,120.7 1,415.0<br />
AustrAliA <strong>Post</strong> AnnuAl rePort <strong>2009</strong>–<strong>10</strong> | Financial and statutory reports 75
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