Full Version - Essential Energy

Notes to the Financial Statements
for the year ended 30 June 2005
NOTE 17. PROVISIONS
Consolidated
Corporation
2005 2004 2005 2004
$’000 $’000 $’000 $’000
Current
Dividends 18,100 29,764 18,100 29,764
Employee benefits 45,220 41,462 45,220 41,462
Provision for Merger with Australian Inland (refer note 32) 3,321 - 3,321 -
Provision for environmental rectification 4,575 1,910 4,575 1,910
Other provisions 3,990 4,251 3,990 3,751
Total Current Provisions 75,206 77,387 75,206 76,887
Non-Current
Employee benefits 107,301 96,761 107,301 96,761
84
Total Non-Current Provisions 107,301 96,761 107,301 96,761
Movement in Provisions
(i) Dividends
Opening carrying amount 29,764 29,764
Additional provision 18,100 18,100
Amounts utilised during the year (29,764) (29,764)
Closing carrying amount 18,100 18,100
(ii) Provision for Merger with Australian Inland
Closing carrying amount 3,321 3,321
The provision was recognised for the first time
during the year.
(iii) Provision for environmental rectification
Opening carrying amount 1,910 1,910
Additional provision 2,700 2,700
Amounts utilised during the year (35) (35)
Closing carrying amount 4,575 4,575
(iv) Other provisions
Opening carrying amount 4,251 3,751
Additional provision 1,690 1,690
Amounts utilised during the year (1,951) (1,451)
Closing carrying amount 3,990 3,990
Other provisions reflect liabilities arising in the course of the Corporation’s operating activities.
NOTE 18. OTHER LIABILITIES
Consolidated
Corporation
2005 2004 2005 2004
$’000 $’000 $’000 $’000
Current
Deferred interest 584 648 584 648
Other liabilities 1,978 2,924 21 611
Total Current Other liabilities 2,562 3,572 605 1,259
Non-Current
Deferred Interest 2,867 3,451 2,867 3,451
Under-funded superannuation liability 2 24 2 24
Other liabilities 1,594 - 1,594 -
Total Non-Current Other Liabilities 4,463 3,475 4,463 3,475
COUNTRY ENERGY ANNUAL REPORT 2004–2005