Tiscali 2009 Annual Report Download - page 185
Download and view the complete annual report
Please find page 185 of the 2009 Tiscali annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175 -
176 -
177 -
178 -
179 -
180 -
181 -
182 -
183 -
184 -
185 -
186 -
187 -
188 -
189 -
190 -
191 -
192 -
193 -
194 -
195 -
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
 |
 |
Tiscali Group: Annual Report 2009
184
The analysis of financial liabilities to Group companies is as follows:
31 December 2009 31 December 2008
(EUR 000)
Energy Byte Srl in liquidation 2 4 -
Tiscali Italia S.p.A. 2,066 3,092
Tiscali International Network SA - 16
Total 2,090 3,108
The distribution by due date of Other non-current liabilities is as follows:
31 December 2009 31 December 2008
(EUR 000)
1-5 years 2,090 3,623
More than 5 years - -
Total 2,090 3,623
Liabilities for pension obligations and staff severance indemnities (note 19)
The table below shows the period movements:
31 Dec 2008 Increases Decreases Other variations 31 Dec 2009
(EUR 000)
Staff severance 271 163 (232) - 203
Total 271 163 (232) - 203
The staff severance fund of EUR 0.2 million, chiefly covering amounts payable to employees, relates to the
parent company and subsidiaries operating in Italy.
In accordance with national regulations and laws, the amount due to each employee matures depending
on the service provided, and has to be immediately disbursed when the employee leaves the company. At
the end of the work relationship, the amount due is calculated pursuant to Italian civil and work law, on
the basis of the duration of the work relationship itself and the taxable remuneration of each employee.
The liability is annually adjusted in compliance with the official index of living cost, and with the interests
fixed by law. It is not associated with any condition or period of accrual, or with any obligation of financial
borrowing; therefore, there are no assets in the service of the provision. In compliance with IAS 19, the
provision was recorded under “Plan with definite performances”. The following actuarial hypotheses used
in the assessment are set out below.
Financial assumptions
Inflation rate: 2.00%
Discount rate: 4.80%