Chrysler 2011 Annual Report Download - page 218

217
Consolidated
Financial Statements
at 31 December 2011
29. Trade payables
Trade payables of €16,418 million at 31 December 2011 increased of €7,073 million over 31 December 2010 due to the initial consolidation of Chrysler
for €5,541 million. An analysis by due date of trade payables is as follows:
At 31 December 2011 At 31 December 2010 (*)
(€ million)
due within
one year
due between
one and five
years
due beyond
five years Total
due within
one year
due between
one and five
years
due beyond
five years Total
Trade payables 16,402 13 3 16,418 9,338 6 1 9,345
(*) The amounts relate to Continuing Operations.
The carrying amount of Trade payables is considered in line with their fair value.
30. Other current liabilities
An analysis of Other current liabilities is as follows:
(€ million) At 31 December 2011 At 31 December 2010 (*)
Advances on buy-back agreements 1,681 822
Indirect tax payables 1,289 1,063
Accrued expenses and deferred income 1,737 806
Payables to personnel 672 269
Social security payables 313 280
Amounts due to customers for contract work (Note 18) 110 105
Other 1,736 563
Total Other current liabilities 7,538 3,908
(*) The amounts relate to Continuing Operations.
An analysis of Other current liabilities (excluding Accrued expenses and deferred income) by due date is as follows:
At 31 December 2011 At 31 December 2010 (*)
(€ million)
due within
one year
due between
one and five
years
due beyond
five years Total
due within
one year
due between
one and five
years
due beyond
five years Total
Total Other current liabilities (excluding Accrued
expenses and deferred income) 5,012 763 26 5,801 2,544 545 13 3,102
(*) The amount relates to the Continuing Operations.
The item Advances on buy-back agreements amounting to €1,681 million refers to agreements entered into by the Group during the year or which still
remain effective at the balance sheet date. 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.
Deferred income also includes the revenues not yet recognised in relation to the separately-priced extended warranties and service contracts offered by
the Chrysler sector. These revenues will be recognised in profit or loss over the contract period in proportion to the costs expected to be incurred based
on historical information.
The carrying amount of Other current liabilities is considered in line with their fair value.