Our Year in Review Strategy
Our Leadership
Divisions
Business Sustainability
Financials and Governance
BACK HOME
Financial statements
Trend statement
Independent auditor's report
Remuneration report
Governance Statutory disclosures
Corporate directory
Notes to the Financial Statements 2018
Other information This section provides additional required disclosures that are not covered in the previous sections.
27. Income statement disclosures
Year ended June 2018 NZ$M
Year ended June 2017 NZ$M
Fletcher Building Group
The following items are specific disclosures required to be made and are included within the income statement: Net periodic pension cost
5
10
1,791
Employee related short-term costs 1
1,727
71
Other long-term employee related benefits Research and development expenditure
66
2
3
26
Amortisation of intangibles
17
8 2
Bad debts written off
4 2
Donations and sponsorships Maintenance and repairs Operating lease expense
160 187
149 183
1 Short term employee benefits for the executive committee included in the above is disclosed in note 26.
Auditor's fees
NZ$000's
NZ$000's
Auditor's fees and expenses payable for: Audit and review of the financial statements – EY
4,883
3,689
Other Services – EY Tax advisory and compliance
600 175
518
Assurance services associated with capital raise
51
Other
54
Total other services – EY
826
572
28. Taxation Taxation expense
Income tax expense comprises current and deferred tax. The provision for current tax is the estimated amount due for payment during the next 12 months by the Group. The provision for deferred tax has been calculated using the balance sheet liability method. Deferred tax is recognised on tax losses, tax credits and on the temporary difference between the carrying amount of assets and liabilities and their taxable value where recovery is considered probable. Deferred tax is not recognised on the following temporary differences: • The initial recognition of goodwill • The initial recognition of asset and liabilities in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss There are no significant deferred tax liabilities in respect of the undistributed profits of subsidiaries and associates. Judgements are required about the application of income tax legislation. These judgements and assumptions are subject to risk and uncertainty as there is a possibility of future changes in the interpretation and/or application of tax legislation. This may impact the amount of current and deferred tax assets and liabilities recognised in the balance sheet and the amount of other tax losses and temporary differences not yet recognised. In such circumstances, some or all of the carrying amounts of recognised tax assets and liabilities may require adjustment, resulting in a corresponding credit or charge to the income statement.
94 Fletcher Building Limited Annual Report 2018
Made with FlippingBook - professional solution for displaying marketing and sales documents online