74 / 116
(e) Provisions
Consolidated
2016
2015
Current
$’000
Non-
current
$’000
Total
$’000
Current
$’000
Non-
current
$’000
Total
$’000
Employee benefits
39,826 3,888 43,714
37,320 3,756 41,076
Restructuring costs
550
-
550
227
-
227
Incident provision
8,115
-
8,115
19,060
-
19,060
Other provisions
-
-
-
2,688
-
2,688
48,491 3,888 52,379
59,295 3,756 63,051
(i) Information about individual provisions and significant estimates
For information related to the Group’s accounting policies related to employee provisions refer
to note 21(s).
Arising from the Group’s transformation program the restructure obligation provision reflects the
redundancy costs that have been provided for and paid during the financial year. The remaining
provision of $0.550m is expected to be fully utilised over the next twelve months.
The incident provision recognises the Group’s estimate of the liability with respect to costs
associated with damage caused by incidents such as derailments, which occurred whilst using
the Group’s rail infrastructure.
(ii) Movements in provisions
Movements in each class of provision during the financial year are set out below:
2016
Employee
benefits
$’000
Re-
structure
obligation
$’000
Incident
$’000
Other
$’000
Total
$’000
Carrying amount at 1 July
41,076
227 19,060 2,688 63,051
Additional provisions recognised
25,728
550 7,109
-
33,387
Amounts used during the year
(23,090)
(227) (18,054)
(2,688) (44,059)
Carrying amount at 30 June
43,714
550 8,115
- 52,379
NOTE 8 (CONTINUED)
NON-FINANCIAL ASSETS AND LIABILITIES
72