Qantas 2014 Annual Report Download - page 93

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91
QANTAS ANNUAL REPORT 2014
The following CGUs have goodwill and other intangible assets with indefinite useful lives as follows:
Qantas Group
2014
$M
2013
$M
Goodwill
Qantas Domestic 10 10
Qantas Loyalty 5 5
Qantas Freight 49 51
Jetstar Group 131 131
195 197
Other intangible assets with indefinite useful lives
Qantas International 35 35
Jetstar Group 22 22
57 57
24. SHARE-BASED PAYMENTS
Equity benefits to Executives made after 1 July 2010 are governed by the Employee Share Plan (ESP) Trust Deed, the Short Term
Incentive Plan (STIP) Terms and Conditions and the Long Term Incentive Plan (LTIP) Terms and Conditions, which were approved by
the Qantas Remuneration Committee Chairman under Board Delegation on 12 August 2010.
Further details regarding the operation of equity plans for Executives are outlined in the Directors’ Report from pages 44 to 64.
The total equity settled share-based payment expense for the year was $12million (2013: $20million). The total cash settled
share-based payment expense for the year was $nil (2013: $1million).
(A) LONG TERM INCENTIVE PLAN (LTIP)
Generally, participation in the LTIP is limited to Senior Executives of the Qantas Group in key roles or other participants who have
been identified as high potential Executives. All Rights are redeemable on a one-for-one basis for Qantas shares, subject to the
achievement of performance hurdles. Dividends are not payable on the Rights. For more information on the operation of the LTIP,
seepages 55 to 56.
Performance Rights reconciliation
Number of Rights
2014 2013
Rights outstanding as at 1 July 28,174,047 18,631,168
Rights granted 13,790,000 15,969,000
Rights forfeited (4,571,000) (2,066,000)
Rights lapsed (3,755,000) (4,343,801)
Rights exercised (58,615) (16,320)
Rights outstanding as at 30 June 33,579,432 28,174,047
Rights exercisable as at 30 June 216,432 275,047
During the year, 13,790,000 Rights were granted on 18 October 2013 (2013: 15,640,000 Rights were granted on 2 November 2012 and
329,000 Rights were granted on 13 June 2013). No amount has been paid, or is payable, by the Executive in relation to these Rights.
Performance hurdles in relation to the outstanding Rights at 30 June 2014 were tested as at 30 June 2014. As a result, 7,014,000
Rights from the 2012–2014 LTIP award will lapse subsequent to 30 June 2014.
During the year, 58,615 Rights were exercised (2013: 16,320).
At 30 June 2014, 14,860 Rights are available to be exercised at the request of the Executive under the 2004/05 Performance
RightsPlan (2004/05 PRP), 44,682 Rights under the 2005/2006 award and a further 156,890 Rights under the 2006/2007
award (2013: 23,590 Rights under the 2004/2005 award, 63,246 Rights under 2005/2006 award and 188,211 Rights under the
2006/2007award).