PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2008 and 2007 Expressed in rupiah, unless otherwise stated
40
20. OPERATING EXPENSES
The details of operating expenses are as follows:
2008 2007
Delivery and Selling Expenses Delivery, loading and transportation
560,049,035,831 371,286,516,937
Salaries, wages and employee benefits Note 21 20,206,920,927
19,159,756,474 Rental
7,732,277,023 4,603,486,948
Advertising and promotion 7,033,767,732
12,147,576,006 Depreciation
3,247,128,155 2,850,799,852
Professional fees
3,000,761,175 3,378,578,773
Taxes and licenses 2,684,309,928
2,465,198,709 Repairs and maintenance
1,415,253,012 1,560,719,716
Research and testing 1,109,390,927
2,508,089,958 Electricity and water
1,085,503,087 1,088,969,574
Spare bags
1,060,785,650 615,085,874
Miscellaneous each below Rp1 billion 2,946,481,132
2,845,673,713 Total Delivery and Selling Expenses
611,571,614,579 424,510,452,534
General and Administrative Expenses Salaries, wages and employee benefits Note
21 65,837,361,783
54,410,991,889 Rental
8,398,352,790 9,013,957,703
Depreciation 6,433,584,785
5,284,122,611 Travelling and transportation
4,278,698,810 2,483,890,857
Training and seminars 3,378,895,578
3,650,219,454 Repairs and maintenance
3,302,373,317 4,158,573,557
Donations 3,083,724,823
4,731,331,227 Medical
2,861,976,901 2,671,671,888
Communication 2,694,425,582
1,521,954,829 Professional
fees 2,572,127,756
2,039,075,365 Taxes and licenses
2,310,539,270 740,500,994
Public relations
1,706,582,080 1,899,889,300
Miscellaneous each below Rp1 billion 6,165,020,905
4,593,878,255 Total General and Administrative Expenses
113,023,664,380 97,200,057,929
Total Operating Expenses 724,595,278,959
521,710,510,463
21. 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 Rp13.2 billion and Rp12.5 billion for the six months ended
June 30, 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 June 30, 2008 and 2007, the Plan net assets totaled Rp522 billion and Rp507 billion, respectively.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2008 and 2007 Expressed in rupiah, unless otherwise stated
41
21. ESTIMATED LIABILITY FOR EMPLOYEE BENEFITS continued