These consolidated financial statements are originally issued in Indonesian language.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Three months ended March 31, 2008 and 2007 Expressed in rupiah, unless otherwise stated
40
21. OPERATING EXPENSES
The details of operating expenses are as follows:
2008 2007
Delivery and Selling Expenses Delivery, loading and transportation
243,239,213,540 192,360,286,455
Salaries, wages and employee benefits Note 22 8,252,891,262
9,212,656,980 Advertising
and promotion
3,503,126,291 6,251,734,623
Rental 2,537,072,655
2,331,778,728 Depreciation
1,838,355,416 1,434,781,438
Taxes and licenses 1,558,865,413
1,424,325,782 Professional
fees 1,480,611,715
1,586,199,278 Miscellaneous each below Rp1 billion
3,646,254,049 3,797,207,471
Total Delivery and Selling Expenses 266,056,390,341
218,398,970,755 General and Administrative Expenses
Salaries, wages and employee benefits Note 22 23,745,039,059
21,411,687,937 Rental
3,861,923,557 4,279,853,556
Depreciation 2,730,736,385
1,366,270,274 Travelling
and transportation
1,968,181,870 1,065,062,801
Repairs and maintenance 1,835,702,832
2,886,617,511
Training and
seminars 1,408,309,709
1,944,219,789 Medical
1,403,295,818 1,356,700,745
Donations 1,330,824,316
2,098,733,254 Professional
fees 1,243,854,694
1,182,538,901 Communication
1,239,666,645 842,610,233
Public relations
1,058,941,100 558,145,900
Miscellaneous each below Rp1 billion 3,477,941,612
2,670,304,826 Total General and Administrative Expenses
45,304,417,597 41,662,745,727
Total Operating Expenses 311,360,807,938
260,061,716,482
22. ESTIMATED LIABILITY FOR EMPLOYEE BENEFITS
a. Retirement Benefits
The Company has a defined contribution retirement plan covering its full-time employees. Contributions are funded and consist of the Company’s and the employees’ contributions computed
at 10 and 5, respectively, of the employees’ pensionable earnings. Total contributions paid by the Company to the plan amounted to Rp6.45 billion and Rp6.21 billion for the three months ended
March 31, 2008 and 2007, respectively, which were charged to operations.
The plan’s assets are administered by Dana Pensiun Karyawan Indocement Tunggal Prakarsa, the establishment of which was approved by the Ministry of Finance on November 12, 1991,
as amended by Decree No. Kep-332KM.171994 dated December 1, 1994. As of March 31, 2008 and 2007, the Plan net assets totaled Rp541 billion and Rp487 billion, respectively.
The Company and Subsidiaries have appointed PT Mercer Indonesia, an independent actuary, to calculate the expected obligation for post-employment, severance, gratuity and compensation
benefits of their qualified permanent employees.
These consolidated financial statements are originally issued in Indonesian language.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Three months ended March 31, 2008 and 2007 Expressed in rupiah, unless otherwise stated
41
22. ESTIMATED LIABILITY FOR EMPLOYEE BENEFITS continued
