Notes to the Financial Statements Note 16: Provisions Employee benefits Other Total US$m US$m US$m US$m US$m US$m 2023 2022 2023 2022 2023 2022 Current Carrying amount at the start of the year 172 212 10 16 182 228 Acquisition of CSL Vifor (Note 2) 11 – 67 – 78 – Utilised/Transfers (65) (59) (9) (14) (74) (73) Additions 126 31 4 9 130 40 Currency translation differences 2 (12) (8) (1) (6) (13) Carrying amount at the end of the year 246 172 64 10 310 182 Non-current Carrying amount at the start of the year 41 48 61 60 102 108 Acquisition of CSL Vifor (Note 2) 9 – 347 – 356 – Utilised/Transfers (2) (6) (1) – (3) (6) Additions 6 3 1 5 7 8 Currency translation differences 6 (4) (1) (4) 5 (8) Carrying amount at the end of the year 60 41 407 61 467 102 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 the risks specific to the obligation. Provisions for employee benefits includes the liability for leave entitlements, related on costs and restructuring costs where required. Other provisions include provisions for asset retirement obligations and onerous contracts. Other provisions also include the estimated fair value of potential contingent liabilities assumed on business acquisition date relating to various claims and disputes with third parties in each case where there is a possible, but not probable, future financial exposure, and involve an assessment of the likelihood of several scenarios in relation to those matters. CSL Limited Annual Report 2022/23 150
RkJQdWJsaXNoZXIy MjE2NDg3