Supercuts 2010 Annual Report Download - page 204

PROVALLIANCE SAS
CONSOLIDATED FINANCIAL STATEMETS
DECEMBER 31, 2009 AND 2008
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(INFORMATION AS OF DECEMBER 31, 2009 AND FOR THE YEAR THEN ENDED NOT
COVERED BY AUDITORS' REPORT INCLUDED HEREIN)
15. PUT OPTIONS (Continued)
15.3 Put option granted to the minority shareholder of Alliance Prov
On May 23, 2008, the Group granted a put option to the minority shareholder of Alliance Prov on its 27.5% interest.
The option exercise price was set at €0.
Non-controlling interests in Alliance Prov's negative net worth at December 31, 2009 in the amount of €234,000 were cancelled from
equity. The difference between these two amounts (€234,000) was recognized as an adjustment to goodwill.
* * *
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16. PROVISIONS FOR LIABILITIES AND CHARGES
192
Carrying
amount at
Jan. 1, 2009
Impact of
business
combinations Additions
Settled
employee
benefits
reclassified
to equity
Reversals
(utilized
provisions)
Reversals
(surplus
provisions)
Carrying
amount at
Dec. 31, 2009
Provisions
for
taxes
598,452
307,270
(55,211
)
850,511
Provisions
for
claims
and
litigation
(1)
544,700
98,818
(280,495
)
363,023
Provisions
for
other
liabilities
and
charges
2,936,505
1,283,609
(1,706,667
)
(1,854,441
)
659,006
Provisions
for
statutory
retirement
bonuses
1,454,565
419,830
(369,364
)
1,505,031
TOTAL
5,534,222
2,109,527
(1,706,667
)
(2,559,511
)
3,377,571
(1) Provisions for claims and litigation primarily concern industrial tribunal disputes which represent non-material amounts
when taken individually.