bold spirit - ArcelorMittal South Africa

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166 ArcelorMittal South Africa Annual Report 2010 Notes to the group and company annual financial statements continued for the year ended 31 December 2010 Asset retirement obligation Rm Environmental remediation Rm Onerous contracts Rm Postretirement medical aid benefits Rm Other Rm 22. PROVISIONS Group For the year ended 31 December 2010 At beginning of year 203 1 116 328 10 273 1 930 Charge to income statement 21 194 31 (1) 87 332 Additions/(releases) (3) (24) (1) 87 59 Discount rate change 4 75 22 101 Unwinding of the discount effect 17 122 33 172 Utilised during year (13) (88) (67) (215) (383) Capitalisation to asset 23 23 At end of year 234 1 222 292 9 145 1 902 Included in the financial statements as: Non-current provisions 201 1 064 226 8 1 499 Current provision 33 158 66 1 145 403 Total 234 1 222 292 9 145 1 902 Company For the year ended 31 December 2010 At beginning of year 194 1 116 308 9 273 1 900 Charge to income statement 21 194 29 1 87 332 Additions/(releases) (3) (24) 1 87 61 Discount rate change 5 75 22 102 Unwinding of the discount effect 16 122 31 169 Utilised during year (16) (88) (57) (1) (215) (377) Capitalisation to asset 23 23 At end of year 222 1 222 280 9 145 1 878 Included in the financial statements as: Non-current provisions 188 1 064 221 8 1 481 Current provisions 34 158 59 1 145 397 Total 222 1 222 280 9 145 1 878 Total Rm
167 ArcelorMittal South Africa Annual Report 2010 22. PROVISIONS continued Maturity profile The present value maturity profile of the provisions is set out in the table below: Total Rm Less than one year Rm More than one year less than five years Rm Five years + Rm Group At 31 December 2010 Asset retirement obligation 233 53 122 58 Environmental remediation 1 222 186 615 421 Onerous contracts 292 65 143 84 Post-retirement medical aid benefits 9 1 8 Other 146 146 Total 1 902 451 888 563 Company At 31 December 2010 Asset retirement obligation 221 52 119 50 Environmental remediation 1 222 186 615 421 Onerous contracts 280 59 138 83 Post-retirement medical aid benefits 9 1 8 Other 146 146 Total 1 878 444 880 554
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Annual Report 2010 bold spirit
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I in brief
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Brand values Our goal is to provide
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Financial features Headline earning
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Financial statements optimistic spi
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