Reebok 2008 Annual Report Download - page 177
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adidas Group Annual Report 2008 173
17 Other current liabilities
Other current liabilities consist of the following:
Other current liabilities
€ in millions
Dec. 31, 2008 Dec. 31, 2007
Liabilities due to personnel 30 29
Tax liabilities other than income taxes 80 55
Liabilities due to social security 10 8
Deferred income 18 14
Financial liabilities
Interest rate derivatives — —
Currency options 15 26
Forward contracts 42 63
Other fi nancial liabilities 22 14
Sundry 78 57
Other current liabilities 295 266
Information regarding forward contracts as well as currency options and interest rate derivatives
is also included in these Notes see Note 23.
18 Pensions and similar obligations
The Group has recognised post-employment benefi t obligations arising from defi ned benefi t
plans. The benefi ts are provided pursuant to the legal, fi scal and economic conditions in each
respective country.
Pensions and similar obligations
€ in millions
Dec. 31, 2008 Dec. 31, 2007
Net liability 119 111
thereof defi ned benefi t liability 124 115
thereof defi ned benefi t asset (5) (4)
thereof adidas AG:
Defi ned benefi t liability 102 99
Defi ned benefi t asset (5) (4)
Similar obligations 8 9
Pensions and similar obligations 127 120
thereof defi ned benefi t liability 132 124
thereof defi ned benefi t asset (5) (4)
Defi ned contribution plans
The total expense for defi ned contribution plans amounted to € 33 million in 2008 (2007:
€ 39 million).
Defi ned benefi t plans
Given the diverse Group structure, different defi ned benefi t plans exist, comprising a variety of
post-employment benefi t arrangements. The benefi t plans generally provide payments in case
of death, disability or retirement to former employees and their survivors. The liabilities arising
from defi ned benefi t plans are partly covered by plan assets.
Actuarial assumptions
in %
Dec. 31, 2008 Dec. 31, 2007
Discount rate 5.9 5.6
Salary increases 4.3 3.5
Pension increases 2.0 1.8
Expected return on plan assets 5.0 5.7