Chrysler 2008 Annual Report Download - page 192

28. Trade payables
An analysis by due date of trade payables is as follows:
At 31 December 2008 At 31 December 2007
Due between Due between
Due within one and Due beyond Due within one and Due beyond
(€ millions) one year five years five years Total one year five years five years Total
Trade payables 13,224 33 1 13,258 14,720 2 3 14,725
The carrying amount of Trade payables is considered in line with their fair value at the balance sheet date.
29. Other current liabilities
An analysis of Other current liabilities is as follows:
(€ millions) At 31 December 2008 At 31 December 2007
Advances on buy-back agreements 2,256 2,513
Indirect tax payables 1,063 879
Accrued expenses and deferred income 1,024 1,083
Payables to personnel 527 594
Social security payables 408 368
Amounts due to customers for contract work (Note 18) 81 383
Other minor 826 752
Total current liabilities 6,185 6,572
An analysis of Other current liabilities (excluding Accrued expenses and deferred income) by due date is as follows:
At 31 December 2008 At 31 December 2007
Due between Due between
Due within one and Due beyond Due within one and Due beyond
(€ millions) one year five years five years Total one year five years five years Total
Other current liabilities, excluding
Accrued expenses and deferred income 4,279 844 38 5,161 4,591 836 62 5,489
The item Advances on buy-back agreements refers to agreements entered into by the Group during the year or which still remain
effective at the balance sheet date. An amount of €1,208 million relate to assets included in Property, plant and equipment, with the
balance of €1,048 million relating to inventories. The item Advances on buy-back agreements represents the following:
at the date of the sale, the price received for the product is recognised as an advance in liabilities;
subsequently, since the difference between the original sales price and the repurchase price is recognised in the income
statement as operating lease instalments on a straight line basis over the lease term, the balance represents the remaining lease
instalments yet to be recognised in income plus the repurchase price.
The carrying amount of Other current liabilities is considered in line with their fair value.
Fiat Group Consolidated Financial Statements at 31 December 2008 191