Page 107 - Suncorp_Review

Suncorp Group Limited Annual Report 2010/11 105

19. Payables and other liabilities

CONSOLIDATED

2011 2010 Note $m $m

Accrued interest payable 512 627 Amounts due to reinsurers 659 137 Trade creditors and accrued expenses 612 916 Investment settlements 8 125 Excess of defned beneft obligations over plan assets 13 24 25 Employee benefts and related on-costs liabilities 278 255 Drawdown facility 8.9.2 – 72 Other liabilities 131 129 Total payables and other liabilities 2,224 2,286 Current 2,065 2,139 Non-current 159 147 Total payables and other liabilities 2,224 2,286

The following assumptions were adopted in measuring present values of long service leave employee benefts which are included under employee benefts and related on-costs liabilities above:

CONSOLIDATED

2011 2010

Weighted average rate of increases in annual employee benefts

to settlement of the liabilities 3.5% 3.0% Weighted average discount rate 4.88%–4.93% 4.50%–4.67% Weighted average term to settlement of liabilities 3–4 years 3–4 years

20. Subordinated notes

CONSOLIDATED

2011 2010 Note $m $m

General Insurance subordinated notes 6.7 678 690 Banking subordinated notes 7.9 846 1,492 1,524 2,182