PDF, 1.2 MB - Pfleiderer AG
PDF, 1.2 MB - Pfleiderer AG PDF, 1.2 MB - Pfleiderer AG
92 being focused: being better 9. Other short-term liabilities 10. Financial liabilities Other short-term liabilities are as follows: Dec. 31, 2002 Dec. 31, 2001 ‘000 euros ‘000 euros Financial derivatives 13,146 7,268 Customer bonus payments 8,650 5,787 Other taxes 6,897 6,045 Corporate income tax 6,121 7,040 Wages and salaries 6,097 5,364 Withheld social security contributions 5,461 5,050 Taxes due from income and church taxes 4,308 3,640 Payments received on receivables sold 1,436 27,201 Value added tax 1,064 1,478 Other personnel liabilities 918 1,251 Interest cut-off 27 290 Other 8,880 14,618 Total 63,005 85,032 Short-term loans granted to and capital borrowed by the Company are as follows: The average annual interest rate is 6 percent. Dec. 31, 2002 Dec. 31, 2001 ‘000 euros ‘000 euros Payments on account received 3,102 3,174 Trade accounts payable 75,226 60,544 Liabilities to affiliated companies 1,995 545 Other 63,005 85,032 143,328 149,295 Dec. 31, 2002 Dec. 31, 2001 ‘000 euros ‘000 euros Other short-term liabilities and short-term parts of long-term loans 43,321 124,333 Capital leases 564 527 Total 42,885 124,860
11. Other short-term accruals 12. Capital leases 13. Long-term liabilities consolidated financial statements notes pfleiderer ag 93 Dec. 31, 2002 Dec. 31, 2001 ‘000 euros ‘000 euros Accruals for personnel liabilities 17,180 20,514 Accruals for production 3,913 5,112 Accruals for sales and marketing 3,130 4,160 Other accruals 7,311 3,585 31,534 33,371 In 1998 and 1999, the Company entered into lease agreements for wood-processing machinery for its Polish sites and for technical plant at its sites in the USA. These lease agreements have been treated as capital leases. The future minimum lease payments from lease agreements as of December 31, 2002 are: 2003 ‘000 euros 668 2004 657 2005 454 Minimum lease payment, total 1,779 less calculated interest 216 Cash value of minimum lease payments 1,563 less short-term part 564 Long-term part of leasing obligations 999 The Company also finances itself by taking up long-term loans, generally based on variable EURIBOR or LIBOR rates. The average interest rate for these loans in fiscal 2002 was approximately 6 percent (2001: under 6 percent). Variable interest payments are adequately hedged using interest swaps.
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92 being focused: being better<br />
9. Other short-term liabilities<br />
10. Financial liabilities<br />
Other short-term liabilities are as follows:<br />
Dec. 31, 2002 Dec. 31, 2001<br />
‘000 euros ‘000 euros<br />
Financial derivatives 13,146 7,268<br />
Customer bonus payments 8,650 5,787<br />
Other taxes 6,897 6,045<br />
Corporate income tax 6,121 7,040<br />
Wages and salaries 6,097 5,364<br />
Withheld social security contributions 5,461 5,050<br />
Taxes due from income and church taxes 4,308 3,640<br />
Payments received on receivables sold 1,436 27,201<br />
Value added tax 1,064 1,478<br />
Other personnel liabilities 918 1,251<br />
Interest cut-off 27 290<br />
Other 8,880 14,618<br />
Total 63,005 85,032<br />
Short-term loans granted to and capital borrowed by the Company are as follows:<br />
The average annual interest rate is 6 percent.<br />
Dec. 31, 2002 Dec. 31, 2001<br />
‘000 euros ‘000 euros<br />
Payments on account received 3,102 3,174<br />
Trade accounts payable 75,226 60,544<br />
Liabilities to affiliated companies 1,995 545<br />
Other 63,005 85,032<br />
143,328 149,295<br />
Dec. 31, 2002 Dec. 31, 2001<br />
‘000 euros ‘000 euros<br />
Other short-term liabilities and short-term<br />
parts of long-term loans 43,321 124,333<br />
Capital leases 564 527<br />
Total 42,885 124,860
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