Carphone Warehouse 2016 Annual Report Download - page 126
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Notes to the Group financial statements
124
20 Provisions
30 April 2016 2 May 2015
Reorg-
anisation
£million
Sales
£million
Property
£million
Other
£million
Total
£million
Reorg-
anisation
£million
Sales
£million
Property
£million
Other
£million
Total
£million
A
t beginning of
period 23 6 25 21 75 22 10 — 18 50
Dixons Retail Merger — — — — — 31 — 27 — 58
A
dditions 15 42 71 4 132 39 2 1 6 48
Released in the
period — —
— (1) (1) (4) — — — (4)
Utilised in the period (26) (40) (6) (9) (81) (63) (5) (3) (1) (72)
Reclassification to
held for sale — —
— — — (1) — — (1) (2)
Disposal of business — — — — — — — — (1) (1)
Foreign exchange — — — — — (1) (1) — — (2)
A
t end of period 12 8 90 15 125 23 6 25 21 75
A
nalysed as:
Current 12 7 44 15 78 20 6 7 21 54
Non-current — 1 46 — 47 3 — 18 — 21
12 8 90 15 125 23 6 25 21 75
Reorganisation provisions relate principally to Merger related costs and redundancy costs and other onerous contracts arising
as a result of reorganisation, and are only recognised where plans are demonstrably committed and where appropriate
communication to those affected has been undertaken at the balance sheet date.
Sales provisions relate to ‘cash-back’ and similar promotions, product warranties, product returns, and network operator
performance penalties. The anticipated costs of these items are assessed by reference to historical trends and any other
information that is considered to be relevant.
Property provisions relate mainly to costs associated with operating lease early exist premiums, onerous leases and provisions
for dilapidations. Additions during the year ended 30 April 2016 relate principally to property rationalisation costs as described
in note 4.
Other provisions relate to warranties provided in relation to business disposals and provisions in respect of the expected costs
of insurance claims, contingent liabilities recognised through business combinations, and other onerous contracts.
Non-current provisions are expected to be utilised over a period up to ten years.
00_DC 2016 Annual Report.pdf 124 11/07/2016 18:34