Tiscali 2003 Annual Report Download - page 82

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8484
B) Reserve for risks and charges
This reserve consists of:
Around EUR 2 million of the reserve for risks and charges relates to the parent Company, and is principally intended to cover out-
standing legal disputes.
The item also includes more than EUR 3 million earmarked by Tiscali’s Dutch subsidiaries for risks relating to outstanding legal
disputes, including the dispute with Philippe Illiesco de Grimaldi and Illiesco de Grimaldi & Co, and another regarding a leased
building no longer in use. Please see the Report on operations for a detailed description of the dispute with Philippe Illiesco de
Grimaldi and Illiesco de Grimaldi & Co.
A further EUR 7.4 million relates to the restructuring of the Liberty Surf Group following the acquisition of Cable & Wireless, while
EUR 3 million pertains to commercial disputes.
The remainder relates mainly to funds earmarked for a dispute with I-Way (EUR 5.7 million), which was settled in early 2004.
C) Staff severance indemnity reserve
The table below sets out changes for the year.
The staff severance indemnity reserve refers mainly to the parent Company and the French subsidiary Liberty Surf Group S.A..
D) Payable
Breakdown
PROVISIONS FOR RISKS AND FUTURE LIABILITIES 31.12.2002 PROVISIONS AMOUNTS OTHER 31.12.2003
USED CHANGES
Tax provisions 100 - - (100) -
Other provisions for risks and future liabilities 20,059 20,286 (13,434) 100 27,011
Total 20,159 20,286 (13,434) - 27,011
STAFF SEVERANCE INDEMNITY RESERVE 31.12.2002 PROVISIONS AMOUNTS OTHER 31.12.2003
USED CHANGES
Manual workers 6 1 - - 7
Office staff 6,723 4,589 (866) - 10,446
Senior managers 273 200 (76) - 397
Total 7,002 4,790 (942) - 10,850
PAYABLES 31.12.2003 31.12.2002 CHANGE
Bonds 540,684 409,211 131,473
Payables to banks 71,495 59,306 12,189
Payables due to other lenders 43,551 62,929 (19,378)
Payables to suppliers 310,647 306,676 3,971
Due to non-consolidated subsidiaries 2,210 4,482 (2,272)
Due to affiliated companies 54 468 (414)
Taxes payable 29,055 32,375 (3,320)
Due to social security agencies 10,729 10,726 3
Other payables 36,148 12,142 24,006
Total 1,044,573 898,315 146,258