CSL Ltd Annual Report 2019

CSL Limited Annual Report 2019 118 Notes to the Financial Statements (b) Trade and other payables 2019 US$m 2018 US$m Current Trade payables 422.6 417.4 Accruals and other payables 951.5 807.0 Share-based payments (EDIP) 33.6 32.4 Carrying amount of current trade and other payables 1,407.7 1,256.8 Non-current Accruals and other payables 86.5 102.0 Share-based payments (EDIP) – 24.6 Carrying amount of non-current other payables 86.5 126.6 Trade and other payables represent amounts reflected at notional amounts owed to suppliers for goods and services provided to the Group prior to the end of the financial year that are unpaid. Trade and other payables are non-interest bearing and have various repayment terms but are usually paid within 30 to 60 days of recognition. Receivables and payables include the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, taxation authorities is included in other receivables or payables in the balance sheet. Note 16: Provisions Employee benefits Legal Other Total US$m US$m US$m US$m Current Carrying amount at the start of the year 116.3 63.6 0.8 180.7 Utilised (60.2) – – (60.2) Additions 76.8 – – 76.8 Currency translation differences (2.5) – 0.1 (2.4) Carrying amount at the end of the year 130.4 63.6 0.9 194.9 Non-current Carrying amount at the start of the year 34.4 – 0.3 34.7 Utilised (2.2) – – (2.2) Additions 4.1 – – 4.1 Currency translation differences (0.4) – (0.3) (0.7) Carrying amount at the end of the year 35.9 – – 35.9 Provisions are recognised when all three of the following conditions are met: • The Group has a present or constructive obligation arising from a past transaction or event. • It is probable that an outflow of resources will be required to settle the obligation. • A reliable estimate can be made of the obligation. Provisions are not recognised for future operating losses. Provisions recognised reflect management’s best estimate of the expenditure required to settle the present obligation at the reporting date. Where the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows to settle the obligation at a pre-tax discount rate that reflects current market assessments of the time value of money and of the risks specific to the obligation. Detailed information about the employee benefits is presented in Note 5.