2007 Annual Report - Sappi

Notes to the group annual financial statements continued
for the year ended September 2007
US$ million 2007 2006
23. Provisions
Summary of provisions:
Restructuring provisions 16 41
Other provisions
Balance at beginning of year 4 5
Increase in provisions – 1
Utilised (2) –
Released during the year (1) (1)
Transfer to accruals – (1)
Translation effect 1 –
Balance at end of year 2 4
Balance at September 2007* 18 45
* These are all current liabilities.
The following is an analysis of other provisions:
General liability 1 1
Disputes – 1
Sundry 1 2
2 4
Severance,
Lease
retrenchment cancellation & Other
Restructuring provisions & related costs penalty costs restructuring Total
Balance at September 2005* 13 1 1 15
Increase in provisions 43 – 2 45
Utilised (13) (1) (2) (16)
Released during the year (4) – – (4)
Translation effect 1 – – 1
Balance at September 2006* 40 – 1 41
Increase in provisions 6 – 1 7
Utilised (16) – (1) (17)
Released during the year (17) – – (17)
Other movements (1) – – (1)
Translation effect 3 – – 3
Balance at September 2007* 15 – 1 16
* These are all included in current liabilities.
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sappi limited | 07 | annual report