Holiday Inn 2015 Annual Report Download - page 123

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18. Trade and other payables
2015
$m
2014
$m
Current
Trade payables 87 88
Other tax and social security payable 45 49
Other payables 400 317
Accruals 307 315
839 769
Non-current
Other payables 578 627
Trade payables are non-interest-bearing and are normally settled within an average of 45 days.
Other payables include $649m (2014: $725m) relating to the future redemption liability of the Group’s loyalty programme, of which $223m
(2014:$132m) is classified as current and $426m (2014: $593m) as non-current.
19. Provisions
Onerous
management
contracts
$m
Litigation
$m
Total
$m
At 1 January 2014 123
Provided –99
Utilised (1) (1) (2)
At 31 December 2014 –1010
Provided –55
At 31 December 2015 –1515
2015
$m
2014
$m
Analysed as:
Current 15 1
Non-current –9
15 10
The onerous management contracts provision related to the unavoidable net cash outflows that were expected to be incurred under performance
guarantees associated with certain management contracts.
Litigation largely relates to actions brought against the Group in The Americas region, including $12m relating to System Fund activity.
Insurance recoveries of $8m are disclosed as a contingent asset and are expected to be received by the System Fund following settlement
of the litigation claim.
STRATEGIC REPORT GOVERNANCE GROUP FINANCIAL STATEMENTS ADDITIONAL INFORMATIONPARENT COMPANY FINANCIAL STATEMENTS
121IHG Annual Report and Form 20-F 2015