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
43
22. ESTIMATED LIABILITY FOR EMPLOYEE BENEFITS continued
b. Post-retirement Healthcare
Benefits continued
A reconciliation of estimated liability for post-retirement healthcare benefits is as follows:
2008 2007
Present value of defined benefit obligation 16,671,398,752
15,444,244,147 Unamortized balance of non-vested past service
costs 9,561,457,250 10,339,444,250
Actuarial gains
3,720,456,000 3,104,620,000
Liability recognized in the consolidated balance
sheets 10,830,397,502
8,209,419,897
Movements in the estimated liability for post-retirement healthcare benefits are as follows:
2008 2007
Balance at beginning of year 10,252,037,620
7,557,608,000 Provision during the period
762,362,500 767,937,750
Payments during the period 184,002,618
116,125,853
Balance at end of period presented as “Non-current
Liabilities - Estimated Liability for Post-retirement Healthcare Benefits” in the consolidated
balance sheets
10,830,397,502 8,209,419,897
Non-vested past service costs are amortized over the remaining number of years of service of active employees, which is 13.66 years in 2008 and 13.84 years in 2007.
23. TRANSACTIONS AND ACCOUNTS WITH RELATED PARTIES
In the normal course of business, the Company and Subsidiaries entered into transactions with related parties. The significant transactions and related account balances with related parties are as follows:
Percentage to Total AssetsLiabilities
and Related Amount
IncomeExpenses 2008
2007 2008 2007
Trade Receivables - Related Party HCT Services Asia Pte., Ltd., Singapore
11,150,715,540 60,971,894,946
0.11 0.64
Due from Related Parties Officers
and employees
32,931,369,789 44,502,659,536 0.32 0.46 HC
Trading 3,713,639,052
131,518,725 0.04 0.01
PT Cibinong Center Industrial Estate 1,419,702,522
2,254,864,664 0.01
0.02 Total
38,064,711,363 46,889,042,925 0.37 0.49
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
44
23. TRANSACTIONS AND ACCOUNTS WITH RELATED PARTIES continued