Telstra 2011 Annual Report Download - page 146

Telstra Corporation Limited and controlled entities
131
Notes to the Financial Statements (continued)
(b) Movement in provisions, other than employee benefits
(i) Workers’ compensation
We self insure for our workers’ compensation liabilities. We provide
for our obligations through an assessment of accidents and
estimated claims incurred. The provision is based on a semi-annual
actuarial review of our workers’ compensation liability. Actual
compensation paid may vary where accidents and claims incurred
vary from those estimated. The timing of these payments may
vary, however the average time payments are expected for is 9
years (2010: 9 years).
Certain controlled entities do not self insure, but pay annual
premiums to third party insurance companies for their workers’
compensation.
(ii) Other
Other provisions include provision for lease incentives, provision for
restoration costs, provision for onerous leases and other
provisions.
16. Provisions (continued)
Telstra Group
Year ended 30 June
2011 2010
$m $m
Workers' compensation (i)
Opening balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165 169
- additional provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 712
- amount used. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (27) (24)
- unwinding of discount on liabilities recognised at present value . . . . . . . . . . . . . . . . . . . 87
- effect of any change in the discount rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1) (1)
- reversal of amounts unused. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -(1)
- other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -3
Closing balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 152 165
Restructuring
Opening balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -49
- amount used. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -(33)
- unwinding of discount on liabilities recognised at present value . . . . . . . . . . . . . . . . . . . -1
- reversal of amounts unused. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -(17)
Closing balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . --
Redundancy
Opening balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -4
- additional provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -4
- amount used. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -(5)
- reversal of amounts unused. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -(3)
--
Other (ii)
Opening balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 171
- additional provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 55
- amount used. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (60) (80)
- effect of any change on discount rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-
- reversal of amounts unused. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1) (36)
- foreign currency exchange differences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) (5)
- transfer to non current assets held for sale. . . . . . . . . . . . . . . . . . . . . . . . . . . . . -(1)
- other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Closing balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 106