Bradken Limited Annual Report 2015 - page 100

65 l BRADKEN LIMITED ANNUAL REPORT 2015
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Notes to the consolidated financial statements
30 June 2015
(continued)
17 Payables
2015
2014
$'000
$'000
Current
Trade payables
96,557
112,339
Other payables
57,287
31,165
153,844
143,504
Non current
Other payables
9,371
7,728
9,371
7,728
(a)
Australian Dollars
67,352
46,572
US Dollars
41,324
49,585
Chinese Yuan
35,646
42,059
Other *
18,893
13,016
163,215
151,232
(b)
18 Provisions
2015
2014
$'000
$'000
Current
Employee benefits
39,050
46,977
Restructuring
20,153
9,292
Warranty
3,509
6,705
62,712
62,974
Non-current
Employee benefits
20,473
14,669
Make good provision
802
-
Environmental
141
368
21,416
15,037
(a)
(b)
(c)
* 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 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.
Make good provision
The make good provision represents expected costs to restore the now leased Bassendean facility at the end of the lease.
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