Experian 2010 Annual Report Download - page 144

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Experian Annual Report 2010 Financial statements142
Notes to the Group nancial statements (continued)
32. Provisions
Restructuring
costs
US$m
Contingent
and other
liabilities
US$m
To t a l
US$m
At 1 April 2009 36 45 81
Differences on exchange 2 13 15
Amount charged/(released) in the year 19 (3) 16
Utilised (40) - (40)
Impact of discount rate movement 1 - 1
At 31 March 2010 18 55 73
Disclosed within current liabilities 18 41 59
Disclosed within non-current liabilities -14 14
At 31 March 2010 18 55 73
Restructuring
costs
US$m
Contingent
and other
liabilities
US$m
Tot a l
US$m
At 1 April 2008 51 60 111
Differences on exchange (12) (15) (27)
Amount charged in the year 92 - 92
Utilised (96) - (96)
Impact of discount rate movement 1 - 1
At 31 March 2009 36 45 81
Disclosed within current liabilities 35 31 66
Disclosed within non-current liabilities 114 15
At 31 March 2009 36 45 81
The restructuring provision at 31 March 2010 of US$18m (2009: US$35m) disclosed within current liabilities included US$18m
(2009: US$24m) in connection with the strategic programme of cost efciency measures and US$nil (2009: US$11m) in respect
of obligations relating to the Group’s withdrawal from large scale credit card and loan account processing in the UK. The
restructuring provision at 31 March 2009 of US$1m disclosed within non-current liabilities related to obligations connected with
the latter.
Contingent and other liabilities comprise liabilities of Serasa, in connection with local legal and tax issues, which were primarily
recognised at fair value on the acquisition of that company. Adjustments to the fair values are made as the exposures are
concluded.
Fair values of provisions at the balance sheet dates do not materially differ from the recognised book values.