ANNUAL REPORT 2008 - Gorenje Group

171
Payables to other suppliers
in TEUR 2008 2007
Payables to domestic suppliers 55,635 59,251
Payables to foreign suppliers 82,279 94,999
Total 137,914 154,250
Note 32 – Other current liabilities TEUR 15,865
in TEUR 2008 2007
Payables to employees 6,952 7,107
Payables to state institutions 1,028 1,140
Current liabilities from advances 724 2,545
Other current liabilities 609 830
Short-term accrued costs and expenses 6,552 10,495
Total 15,865 22,117
As at the balance sheet date payables to employees include:
in TEUR 2008 2007
Wages and salaries and continued pay 3,498 3,505
Contributions on wages and salaries 1,328 1,404
Taxes on wages and salaries 656 705
Other emoluments from employment 162 185
Deductions from wages and salaries 1,260 1,282
Other payables 48 26
Total 6,952 7,107
Advances refer mostly to finished products (TEUR 588) and to the Indop projects amounting to
TEUR 104 (2007: TEUR 2,417).
Short-term accrued costs and expenses were formed for accrued costs of services in the amount of
TEUR 4,373 (2007: TEUR 7,658), accrued interest expenses on borrowings in the amount of TEUR
2,018 (2007: TEUR 1,790), accrued expenses relating to bonus payments in 2008 in the amount of
TEUR 162 (2007: TEUR 677).
Note 33 – Contingent liabilities
The Company keeps separate records of contingent liabilities arising from guarantees granted to
financial institutions for liabilities recorded by subsidiaries in the amount of TEUR 48,729 (2007:
TEUR 63,427) and by third entities in the amount of TEUR 1,645 (2007: TEUR 2,269). In addition,
the Company separately discloses liabilities relating to performance bonds in the amount of TEUR
20,727 (2007: TEUR 12,052).
Note 34 – Financial instruments
Credit risk
Knjigovodska vrednost finančnih sredstev predstavlja največjo izpostavljenost kreditnemu tveganju.
Največja izpostavljenost kreditnemu tveganju na dan poročanja je bila:
in TEUR 2008 2007
Available-for-sale financial assets 18,353 26,192
Loans 64,312 11,940
Trade and other receivables excluding income tax receivables 191,152 212,593
Cash and cash equivalents 74 31
Interest rate swaps used for hedging: assets 327 1,973
Forward exchange contracts used for hedging: assets 4,793 0
Total 279,011 252,729