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(g) Non-current liabilities - Defined benefit plans
(i) Consolidated Balance Sheet amounts
The amounts recognised in the balance sheet and the movements in the net defined benefit
obligation over the year as follows:
Present value
of obligation
$’000
Fair value of
plan assets
$’000
Net
amount
$’000
Balance as at 1 July 2015
(38,003)
31,386
(6,617)
Included in consolidated income statement
Current service cost
(535)
-
(535)
Interest (expense)/income
(1,769)
1,469
(300)
(2,304)
1,469
(835)
Included in other comprehensive income
Re-measurements
Return on plan assets, excluding amounts
included in interest (expense)/income
-
(593)
(593)
(Loss)/gain from change in demographic
assumptions
(2,847)
-
(2,847)
(Loss)/gain from change in financial assumptions
(3,474)
-
(3,474)
Experience gains/(losses)
(853)
-
(853)
(7,174)
(593)
(7,767)
Contributions:
Employers
-
751
751
Plan participants
(280)
280
-
Payments from plan:
Payments from plan
5,917
(5,917)
-
5,637
(4,886)
751
Balance as at 30 June 2016
(41,844)
27,376
(14,468)
Balance sheet as at 1 July 2016
(41,844)
27,376
(14,468)
Included in consolidated income statement
Current service cost
(571)
-
(571)
Interest (expense)/income
(1,443)
959
(484)
(2,014)
959
(1,055)
Included in other comprehensive income
Re-measurements
Return on plan assets, excluding amounts
included in interest (expense)/income
-
1,578
1,578
(Loss)/gain from change in financial assumptions
3,176
-
3,176
Experience gains/(losses)
(1,730)
-
(1,730)
1,446
1,578
3,024
Contributions:
Employers
-
1,430
1,430
Plan participants
(290)
290
-
Payments from plan:
Benefit payments
1,996
(1,996)
-
1,706
(276)
1,430
Balance as at 30 June 2017
(40,706)
29,637
(11,069)
94
NOTE 7
NON-FINANCIAL ASSETS AND LIABILITIES (CONTINUED)