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110 being focused: being better
VI. Notes to the Consolidated Statement of Cash Flows
VII. Other Notes
1. Commitments and
contingencies
Cash and cash equivalents examined in the Statement of Cash Flows corresponds to the balance
sheet item “Cash and cash equivalents including securities classified as current assets”.
Interest payments in fiscal 2002 came to 29,637 thousand euros. Payments made for
taxes on income came to 16,608 thousand euros.
Commitments and contingencies are shown below at nominal values:
Sureties (bank guarantees) of 41,800 thousand euros have also been issued by banks in favor
of customers, suppliers and other contractual partners of the Group, backed by corresponding
guarantee lines. These are mainly sureties for warranties and guarantees in connection with
contingent liabilities from divestitures.
No accruals have been formed for the above-mentioned contingent liabilities as the
probability that the risk will occur is considered very slight.
The Group provides warranties for certain products (particularly masts). The amount of
the potential warranties claims is based on the number of products sold and the records kept
of past claims for these services.
In the year under review, the accruals for warranties developed as follows:
Dec. 31, 2002 Dec. 31, 2001
million euros million euros
Surities and letters of comfort 13.1 13.6
Warranty commitments 4.5 0.6
Contingencies from notes 1.9 0.4
‘000 euros
Initial volume as of January 1, 2002 4,190
Warranties given during the reporting period 93
Claims during reporting period 645
Total as of December 31, 2002 3,638