CSL Ltd Annual Report 2021

Note 5: People Costs (a) Employee Benefits Employee benefits include salaries and wages, annual leave and long-service leave, defined benefit and defined contribution plans and share-based payments incentive awards. People Cost 2021 – US$2,781.6m Salaries and wages $2,595.1m Defined benefit plan expense $53.8m Defined contribution plan expense $43.0m Equity settled share-based payments expense (LTI) $89.7m Salaries and wages Wages and salaries include non-monetary benefits, annual leave and long service leave. These are recognised and presented in different ways in the financial statements: • The liability for annual leave and the portion of long service leave expected to be paid within twelve months is measured at the amount expected to be paid. • The liability for long service leave and annual leave expected to be paid after one year is measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date. • The liability for annual leave and the portion of long service leave that has vested at the reporting date is included in the current provision for employee benefits. • The portion of long service leave that has not vested at the reporting date is included in the non-current provision for employee benefits. Salaries and wages $2,361.6m Defined benefit plan expense $44.4m Defined contribution plan expense $46.1m Equity settled share-based payments expense (LTI) $73.6m Cash settled share-based payments expense (EDIP) $2.4m People Cost 2020 – US$2,528.1m CSL Limited Annual Report 2020/21 118 Notes to the Financial Statements