Australia Post Annual Report 2008–09
Australia Post Annual Report 2008–09
Australia Post Annual Report 2008–09
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20 Provisions<br />
Current provisions<br />
<strong>Annual</strong> leave<br />
Long service leave<br />
Workers’ compensation<br />
Separations and redundancies<br />
Other employee<br />
2009<br />
$m<br />
Consolidated Corporation<br />
Balance at 30 June 2009 590.1 529.6 583.0 523.0<br />
Non-current provisions<br />
Long-service leave<br />
Workers’ compensation<br />
Make good (1)<br />
Balance at 30 June 2009 170.2 167.2 165.3 164.0<br />
Total provisions 760.3 696.8 748.3 687.0<br />
(1) 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 to<br />
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 each<br />
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 45.4 48.3 41.9 46.2<br />
21 Other non-current liabilities<br />
Deferred interest<br />
Loans from controlled entities (see note 28)<br />
Other payables<br />
Total other non-current liabilities 11.4 10.1 14.3 11.3<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 />
0.0<br />
0.0<br />
11.4<br />
2008<br />
$m<br />
188.0<br />
275.8<br />
25.2<br />
8.4<br />
32.2<br />
37.4<br />
81.5<br />
48.3<br />
45.6<br />
2.4<br />
(1.0)<br />
(0.8)<br />
2.1<br />
0.1<br />
0.0<br />
10.0<br />
2009<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 />
0.0<br />
2.9<br />
11.4<br />
2008<br />
$m<br />
183.9<br />
274.8<br />
25.2<br />
7.5<br />
31.6<br />
36.3<br />
81.5<br />
46.2<br />
43.2<br />
2.4<br />
(1.0)<br />
(0.4)<br />
2.0<br />
0.1<br />
1.2<br />
10.0<br />
<strong>Australia</strong> <strong>Post</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2008–09</strong> | Financial and statutory reports 87
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