Qantas 2006 Annual Report Download - page 98
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96
Notes to the Financial Statements
for the year ended 30 June 2006
17. Provisions
Qantas Group Qantas
2006
$M
2005
$M
2006
$M
2005
$M
CURRENT
Dividends 2.1 1.7 2.1 1.7
Employee benefits
– annual leave 325.5 334.9 281.2 291.1
– long service leave 40.7 31.8 30.9 25.0
– staff redundancy 21.2 0.2 21.2 –
Frequent Flyer 28.4 28.6 28.4 28.6
Onerous contracts 27.2 5.9 26.6 5.3
Insurance and other 23.9 25.7 19.6 21.3
469.0 428.8 410.0 373.0
NON-CURRENT
Employee benefits
– long service leave 312.1 267.9 285.9 244.3
– other 0.7 0.7 ––
– superannuation 7.3 51.4 7.3 51.4
Frequent Flyer 38.9 39.2 38.9 39.2
Onerous contracts 2.7 3.3 1.1 1.7
Make good on property leases 12.8 11.9 12.8 11.9
Insurance and other 102.5 68.9 93.9 61.6
477.0 443.3 439.9 410.1
Qantas Group Qantas
2006
$M
2006
$M
RECONCILIATIONS
Reconciliations of the carrying amounts of each class of provision, except for employee benefits, are set out below:
Dividends
Balance at 1 July 1.7 1.7
Provisions made during the year 402.4 402.1
Payments made during the year (212.1) (211.8)
Dividends settled in shares under the DRP (189.9) (189.9)
Balance at 30 June 2.1 2.1
Frequent Flyer
Balance at 1 July 67.8 67.8
Provisions made during the year 45.2 45.2
Payments made during the year (30.1) (30.1)
Discounting (15.6) (15.6)
Balance at 30 June 67.3 67.3
Included in the Financial Statements as follows:
Current 28.4 28.4
Non-current 38.9 38.9
67.3 67.3