Reebok 2014 Annual Report Download - page 219

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adidas Group
/
2014 Annual Report
Consolidated Financial Statements
215
2014
/
04.8
/
Notes
/
Notes to the Consolidated Statement of Financial Position
Other current financial liabilities consist of the following:
Other current financial liabilities
(€ in millions) Dec. 31, 2014 Dec. 31, 2013
Currency options 0 3
Forward exchange contracts 50 77
Commodity futures 3 –
Finance lease obligations 3 4
Sundry 35 29
Other current financial liabilities 91 113
For further information about currency options, forward exchange contracts and commodity futures
/
SEE NOTE 29.
For information about finance lease obligations
/
SEE NOTE 28.
Other provisions consist of the following:
Other provisions
(€ in millions) Jan. 1,
2014
Currency
translation
differences
Usage Reversals Additions Transfers Dec. 31,
2014
Thereof
non-current
Marketing 57 1 (54) (3) 75 – 79 –
Personnel 57 2 (38) (10) 35 2 48 8
Returns, allowances and
warranty 167 9 (95) (13) 138 (8) 200 –
Taxes, other than income taxes 19 1 (3) – 13 – 27 –
Sundry 175 1 (37) (43) 58 – 154 30
Other provisions 475 15 (227) (69) 319 (6) 508 38
Marketing provisions mainly consist of provisions for promotion contracts.
Provisions for personnel mainly consist of provisions for short- and long-term variable compensation
components as well as of provisions for social plans relating to restructuring measures. With regard to provisions
for early retirement, claims for reimbursement in an amount of € 0 million (2013: € 0 million) are shown under
other non-current assets.
Provisions for returns, allowances and warranty primarily arise due to bonus agreements with customers
and the obligation of fulfilling customer claims with regard to the return of products sold by the Group. The
amount of the provision follows the historical development of returns, allowances and warranty as well as current
agreements.
Provisions for taxes other than income taxes mainly relate to value added tax, real estate tax and motor
vehicle tax.
Sundry provisions mainly include provisions for customs risks as well as anticipated losses from purchases
and other transactions, and provisions for litigation and other legal risks.
The reversal of sundry provisions in 2014 is mainly related to the completion of customs audits and a risk
reassessment.
Management follows past experience from similar transactions when assessing the recognition and the
measurement of other provisions; in particular, external legal opinions are considered for provisions for customs
risks and for litigation and other legal risks. All evidence from events until the preparation of the consolidated
financial statements is taken into account.
The transfers include reclassifications to ‘Liabilities classified as held for sale’.
19
Other current financial
liabilities
20
Other provisions