Australia Post Annual Report 2008–09

Schedule of contingencies
as at 30 June 2009
Consolidated
Balance from previous period
New
Re-measurement
Liabilities recognised
Obligations expired
2009
$m
186.0
5.4
4.5
–
(4.8)
Guarantees (1)
2008
$m
196.2
4.8
(11.1)
–
(3.9)
Claims for damages
or other costs (2) Total
Total contingent liabilities 191.1 186.0 24.4 5.9 215.5 191.9
Balance from previous period
New
Re-measurement
Assets recognised
Obligations expired
7.5
7.6
0.1
–
(7.5)
7.5
–
–
–
–
Total contingent assets 7.7 7.5 55.4 0.9 63.1 8.4
Net contingent liabilities/(assets) 183.4 178.5 (31.0) 5.0 152.4 183.5
Corporation
Balance from previous period
New
Re-measurement
Liabilities recognised
Obligations expired
146.8
–
4.5
–
–
157.2
–
(10.4)
–
–
Total contingent liabilities 151.3 146.8 24.1 5.3 175.4 152.1
Balance from previous period
New
Re-measurement
Assets recognised
Obligations expired
7.5
7.5
–
–
(7.5)
7.5
–
–
–
–
Total contingent assets 7.5 7.5 54.5 0.2 62.0 7.7
Net contingent liabilities/(assets) 143.8 139.3 (30.4) 5.1 113.4 144.4
(1) Relate to non-financial guarantees, including bank guarantees over projected workers’ compensation claims liabilities, and other guarantees provided by joint-venture entities.
(2) Relates to legal liability claims that have been lodged against the corporation and subsidiaries, including motor vehicle accident and personal injury claims.
Included within contingent assets is an amount recorded in 2009 that represents a counterclaim linked to an amount disclosed within contingent liabilities.
2009
$m
5.9
4.0
18.6
(3.1)
(1.0)
0.9
54.6
(0.1)
–
–
5.3
4.0
18.1
(2.3)
(1.0)
0.2
54.5
(0.2)
–
–
2008
$m
10.7
3.0
(0.8)
(6.8)
(0.2)
1.0
0.7
0.1
(0.4)
(0.5)
10.7
3.0
(1.4)
(6.8)
(0.2)
1.0
–
0.1
(0.4)
(0.5)
2009
$m
191.9
9.4
23.1
(3.1)
(5.8)
8.4
62.2
–
–
(7.5)
152.1
4.0
22.6
(2.3)
(1.0)
7.7
62.0
(0.2)
–
(7.5)
2008
$m
206.9
7.8
(11.9)
(6.8)
(4.1)
8.5
0.7
0.1
(0.4)
(0.5)
167.9
3.0
(11.8)
(6.8)
(0.2)
8.5
–
0.1
(0.4)
(0.5)
Australia Post Annual Report 2008–09 | Financial and statutory reports 59