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Notes to the annual financial statements | Note 21

FOR THE YEAR ENDED 30 SEPTEMBER 2013

 
  Description
of nature of
obligation
Rm
Carrying
amounts at
the beginning
of the year
Additional
provisions
created
in the year
Amounts
utilised during
the year
Unutilise
amounts
reversed during
the year
Disposal of
business
Carrying
amounts at
the end
of the year

21.

PROVISIONS

Group
Warranty1
59,4
13,0
(5,5)
(10,6)
(0,3)
56,0
Contract completion
0,5
2,0
(0,1)
2,4
Other2
18,8
1,8
(10,0)
10,6
 
78,7
16,8
(5,5)
(20,7)
(0,3)
69,0
Company
 
 
 
 
 
 
Warranty1
2,7
3,8
(1,7)
(1,8)
(0,3)
2,7
Other2
10,0
(10,0)
 
12,7
3,8
(1,7)
(11,8)
(0,3)
2,7
 
1 The provision for warranty claims represents the present value of management’s best estimate of the future outflow of economic benefits that will be required under the company’s/ group’s obligations for warranties under local sale of goods legislations. The estimates have been made on the basis of historical warranty trends and may vary as a result of new materials, altered manufacturing processes or other events affecting product quality.
2 Other provisions include the following in the insurance captive:
  – incentive claw-back provisions
– incurred but not reported claims provision