| Notes to the consolidated financial statements Note 30 |
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| 30. |
PROVISIONS |
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Long-term portion |
513 792 |
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397 970 |
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Short-term portion |
223 945 |
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358 319 |
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737 737 |
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756 289 |
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Balance at July 1 2015 |
67 774 |
344 015 |
99 669 |
96 285 |
607 743 |
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Created |
806 |
166 865 |
25 031 |
53 173 |
245 875 |
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Utilised |
(31 649) |
(65 400) |
(18 832) |
(60 039) |
(175 920) |
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Net acquisition of businesses |
– |
2 149 |
(178) |
(1 533) |
438 |
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Exchange rate adjustments |
7 338 |
27 912 |
17 159 |
17 136 |
69 545 |
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Effect of discounting |
1 383 |
7 225 |
– |
– |
8 608 |
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Balance at June 30 2016 |
45 652 |
482 766 |
122 849 |
105 022 |
756 289 |
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Created |
– |
135 464 |
51 655 |
80 674 |
267 793 |
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Utilised |
(3 394) |
(129 674) |
(39 976) |
(48 021) |
(221 065) |
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Net acquisition of businesses |
– |
4 668 |
– |
13 600 |
18 268 |
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Exchange rate adjustments |
(5 894) |
(62 975) |
(12 435) |
(10 227) |
(91 531) |
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Effect of discounting |
1 096 |
6 887 |
– |
– |
7 983 |
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Balance at June 30 2017 |
37 460 |
437 136 |
122 093 |
141 048 |
737 737 |
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Onerous contracts
Onerous contracts are identified through regular reviews of the terms and conditions of contracts as well as on the acquisition of businesses. A provision for onerous contracts is calculated as the present value of the portion which management deems to be onerous in light of the current market conditions, discounted using market-related rates. An annual expense is recognised over the life of the contracts.
Provision for cost of dismantling and site restoration
A provision is raised for the estimated costs of dismantling and removing items, and restoring the property on which they are located. The change in the liability arising as a result of unwinding the discount is recognised in the income statement as a finance charge. The dismantling of the plant and recommissioning of buildings is expected to coincide with the end of the useful life of the plant and lease periods.
Customer loyalty programme
This is a customer loyalty programme introduced by certain operations within the group, whereby customers can earn points for redemption in the form of gift certificates and products of the operations. The provision is calculated based on the points outstanding at year-end.
Other
Consists of provision for restructuring and various other individually insignificant provisions |
| Notes to the consolidated financial statements Note 30 |
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