Reebok 2011 Annual Report Download - page 200

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adidas Group
2011 Annual Report
CONSOLIDATED FINANCIAL STATEMENTS
196
2011
196
2011
04.8
04.8 Notes Notes to the Consolidated Statement of Financial Position
21 Other current liabilities
Other current liabilities consist of the following:
Other current liabilities (€ in millions)
Dec. 31, 2011 Dec. 31, 2010
Liabilities due to personnel 34 34
Tax liabilities other than income taxes 93 99
Liabilities due to social security 18 16
Deferred income 22 16
Customers with credit balances 73 25
Sundry 61 51
Other current liabilities 301 241
22 Other non-current financial liabilities
Other non-current financial liabilities consist of the following:
Other non-current financial liabilities (€ in millions)
Dec. 31, 2011 Dec. 31, 2010
Interest rate derivatives – 5
Currency options 2 6
Forward contracts – 1
Finance lease obligations 4 3
Other financial liabilities 0 0
Other non-current financial liabilities 6 15
Information regarding interest rate derivatives, currency options and
forward contracts is also included in these Notes
SEE NOTE 28
. For
information regarding finance lease obligations
SEE ALSO NOTE 27
.
23 Pensions and similar obligations
The Group has recognised post-employment benefit obligations
arising from defined benefit plans. The benefits are provided pursuant
to the legal, fiscal and economic conditions in each respective country.
Pensions and similar obligations (€ in millions)
Dec. 31, 2011 Dec. 31, 2010
Pension liability 195 172
Similar obligations 10 8
Pensions and similar obligations 205 180
Defined contribution plans
The total expense for defined contribution plans amounted to
€ 36 million in 2011 (2010: € 34 million).
Defined benefit plans
Given the diverse Group structure, different defined benefit plans
exist, comprising a variety of post-employment benefit arrangements.
The benefit plans generally provide payments in case of death, disa-
bility or retirement to former employees and their survivors. The obli-
gations arising from defined benefit plans are partly covered by plan
assets. In 2011, the defined benefit plan offered at one of the Japanese
subsidiaries of adidas AG was converted into a defined contribution
plan, resulting in a plan settlement.
Amounts for defined benefit plans recognised in the
consolidated statement of financial position (€ in millions)
Dec. 31, 2011 Dec. 31, 2010
Present value of funded obligation 76 74
Fair value of plan assets (67) (67)
Funded status 9 7
Present value of unfunded obligation 184 163
Asset ceiling effect 1 1
Net defined benefit liability 194 171
Thereof: liability 195 172
Thereof: adidas AG 154 138
Thereof: asset (1) (1)
Thereof: adidas AG (1) (1)