Financial Report 2009 - Leighton Holdings

Notes continued
for the year ended 30 June 2009
18. PROVISIONS
Group
Company
2009
$’000
2008
$’000
2009
$’000
2008
$’000
Employee benefits
Balance at beginning of reporting period 373,176 331,372 2,932 2,582
Provisions made during the reporting period 313,153 293,523 - 350
Acquisitions through business combinations 235 504 - -
Provisions used during the reporting period (254,923) (249,328) (772) -
Effect of movements in foreign exchange 5,478 (2,895) - -
Balance at reporting date 437,119 373,176 2,160 2,932
Site restoration
Balance at beginning of reporting period 19,877 14,934
Provisions made during the reporting period 2,643 4,943
Balance at reporting date 22,520 19,877 - -
459,639 393,053 2,160 2,932
Provisions expected to be settled more than 12 months after reporting date: Group $216,058 (2008: $201,823), Company
$2,060 (2008: $2,651). The provision for employee benefits relates to wages and salaries, annual leave, long service leave,
retirement benefits and deferred bonuses. The provision for site restoration represents restoration obligations in respect of
landfills, based on the Group’s best estimate of the present value of the expenditure required to settle the restoration
obligation.
Leighton Holdings Limited FINANCIAL REPORT 2009 23