- 21. Provisions for liabilities and charges
- 22. Share-based payments
- 23. Provision for post-employment benefits
- 24. Risk management policies
- 25. Financial instruments
21. Provisions for liabilities and charges
The movements in 2007 and 2006 were as follows:
|1 January 2006||67.7||64.0||131.7|
|Charged to the income statement||0.8||0.2||1.0|
|Released to the income statement||(1.2)||(5.4)||(6.6)|
|31 December 2006||61.8||43.0||104.8|
|Charged to the income statement||7.6||14.7||22.3|
|Released to the income statement||(5.2)||(5.3)||(10.5)|
|31 December 2007||58.7||58.1||116.8|
Provisions comprise liabilities where there is uncertainty about the timing of settlement, but where a reliable estimate can be made of the amount. These include provisions for vacant space, sub-let losses and other property-related liabilities. Also included are other provisions, such as certain long-term employee benefits and legal claims, where the likelihood of settlement is considered probable.
The Company and various of its subsidiaries are, from time to time, parties to legal proceedings and claims which arise in the ordinary course of business. The directors do not anticipate that the outcome of these proceedings and claims will have a material adverse effect on the Group's financial position or on the results of its operations.