Reebok 2012 Annual Report Download - page 240

adidas Group
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2012 Annual Report
Consolidated Financial Statements
218
2012
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04.8
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Notes
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Notes to the Consolidated Statement of Financial Position
22 Other current liabilities
Other current liabilities consist of the following:
Other current liabilities (€ in millions)
Dec. 31, 2012 Dec. 31, 2011 1)
Liabilities due to personnel 36 34
Tax liabilities other than income taxes 131 94
Liabilities due to social security 15 18
Deferred income 27 22
Customers with credit balances 39 73
Sundry 51 62
Other current liabilities 299 303
1) Restated according to IAS 8, see Note 03.
23 Other non-current financial liabilities
Other non-current financial liabilities consist of the following:
Other non-current financial liabilities (€ in millions)
Dec. 31, 2012 Dec. 31, 2011 1)
Currency options 1 2
Forward contracts 2 –
Finance lease obligations 13 4
Sundry 1 3
Other non-current financial liabilities 17 9
1) Restated according to IAS 8, see Note 03.
Information regarding currency options and forward contracts is also
included in these Notes
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SEE NOTE 29. For information regarding finance
lease obligations
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SEE ALSO NOTE 28.
24 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 and
mainly depend on the employees’ years of service and remuneration.
Pensions and similar obligations (€ in millions)
Dec. 31, 2012 Dec. 31, 2011
Pension liability 241 195
Similar obligations 10 10
Pensions and similar obligations 251 205
Defined contribution plans
The total expense for defined contribution plans amounted to € 46 million
in 2012 (2011: € 36 million).
Defined benefit plans
Given the diverse Group structure, different defined benefit plans exist,
comprising a variety of post-employment benefit arrangements. The
Group’s major defined benefit plans relate to adidas AG and subsidiaries
in the UK and Japan. The defined benefit plans of adidas AG mainly
relate to direct pension commitments as well as commitments which
relate to the Executive Board and which are managed through a pension
fund in combination with a reinsured support fund. The benefit plans
generally provide payments in case of death, disability or retirement
to former employees and their survivors. The obligations 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.
The following tables analyse the defined benefit plans, plan assets,
present values of the defined benefit plans, expenses recognised in
the consolidated income statement, actuarial assumptions and other
information.