CSL Ltd Annual Report 2020

CSL Limited Annual Report 2020 128 Notes to the Financial Statements 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 130.4 63.7 0.8 194.9 Utilised – (40.7) – (40.7) Reversal of previously recognised provision – (23.0) – (23.0) Additions 25.7 – – 25.7 Carrying amount at the end of the year 156.1 – 0.8 156.9 Non-current Carrying amount at the start of the year 35.9 – – 35.9 Additions 5.8 – – 5.8 Carrying amount at the end of the year 41.7 – – 41.7 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 our 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.