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notes to the financial Statements
for the year ended 31 March 2012
24. Other financial liabilities
Group and Parent
Current
Non-current
2012
2011
2012
2011
Note
$’000
$’000
$’000
$’000
Derivatives designated and effective as hedging
instruments carried at fair value
Interest rate swaps
37
1,695
1,450
-
-
Parent
2012
2011
$’000
$’000
Current
Loans from subsidiaries
4,083
2,108
Loans from subsidiaries
John Deere Electrical
772
502
Financial Corporation Limited
3,311
1,606
4,083
2,108
No interest is charged on intercompany loans, and the loans have no predetermined settlement date.
25. Obligations under finance leases
Nil
26. Provision for staff entitlements
Group
Parent
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Total at 31 March 2010
1,274
1,007
Movement during the year
(39)
(67)
Total at 31 March 2011
1,235
940
Movement during the year
32
157
Total at 31 March 2012
1,267
1,097
Classified as:
Current
1,234
1,163
1,064
937
Non-current
33
72
33
3
1,267
1,235
1,097
940
The provision for employee entitlements includes accrued wages, bonuses, accrued holiday pay, long
service leave, sick leave, trainee bonds and gratuities. Where settlement is greater than one year, the item is
discounted using the Group’s weighted average cost of capital. The Directors consider that the carrying amount
of the provision for staff entitlements approximates to their fair value as most of the entitlement is due to be
settled within one year.
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