Qantas 2009 Annual Report Download - page 122

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120 Qantas Annual Report 2009
Notes to the Financial Statements
for the year ended 30 June 2009
22. Provisions continued
Qantas Group Qantas
2009 2008 2009 2008
Insurance, legal and other $M $M $M $M
Qantas self-insures for risks associated with workers’ compensation. Outstanding claims
are recognised when an incident occurs that may give rise to a claim and are measured
at the present value of the cost that the entity expects to incur in settling the claims.
Legal provisions include estimates of the likely penalties to be incurred in relation to
investigations into alleged price fixing.
Balance as at 1 July 166 178 159 172
Provisions made 51 91 51 91
Payments made (32) (103) (30) (104)
Balance as at 30 June 185 166 180 159
Included in the Financial Statements as follows:
Current 80 69 80 67
Non-current 105 97 100 92
185 166 180 159
Make good on leased assets
The Qantas Group has leases that require the asset to be returned to the lessor in certain
condition. A provision has been raised for the present value of the future expected cost
at lease expiry.
Balance as at 1 July 42 34 30 27
Acquisitions of controlled entities 14 – – –
Provisions made 40 8 27 3
Balance as at 30 June 96 42 57 30