BRADKEN LIMITED ANNUAL REPORT 2014 l 66
Notes to the consolidated financial statements
30 June 2014
(continued)
17 Payables
2014
2013
$'000
$'000
Current
Trade payables
112,339
115,931
Other payables
31,165
81,098
143,504
197,029
Non current
Other payables
7,728
8,231
7,728
8,231
(a)
Australian Dollars
46,572
88,708
US Dollars
49,585
60,079
Chinese Yuan
42,059
35,686
Other *
13,016
20,787
151,232
205,260
(b)
18 Provisions
2014
2013
$'000
$'000
Current
Employee benefits
46,977
47,652
Restructuring
9,292
2,558
Warranty
6,705
2,640
62,974
52,850
Non-current
Employee benefits
14,669
17,963
Environmental
368
-
15,037
17,963
(a)
(b)
* Other refers to a basket of currencies (Euros, Great British Pounds, Japanese Yen, New Zealand Dollars, Singapore Dollars, Malaysian
Ringgit, South African Rand, Chilean Pesos)
Warranties
Foreign currency risk
Fair value
Due to the short term nature of these payables, their carrying value is assumed to approximate their fair value.
The carrying amounts of the Group's and parent entity's
payables are denominated in the following currencies:
Provision is made for known warranty claims at balance date. Most claims are expected to be settled in the next financial year.
Management estimates the provision based on expected costs to be incurred to resolve the warranty claim.
Restructuring
The restructuring provision represents those costs associated with the announced company restructure that are yet to be
incurred but for which a constructive obligation exists at balance date.
Page 66
Bradken Limited
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
(CONTINUED)
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