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94 being focused: being better
14. Other long-term accruals
At the balance sheet date, the Company was carrying fixed-interest loans totaling
20,452 thousand euros with an average interest rate of 5.9 percent. These loans were valued
at 22,395 thousand euros as of December 31. 2002.
Dec. 31, 2002 Dec. 31, 2001
Long-terms Short-term Long-term
amounts part of less part of more
than 1 year than 1 year
‘000 euros ‘000 euros ‘000 euros ‘000 euros
Long-term financial
liabilities excluding
capital leases 330,329 8,725 321,604 395,762
As of December 31, 2002, repayments on long-term liabilities for the next five fiscal years and
thereafter are as follows:
2003
‘000 euros
8,725
2004 29,424
2005 33,490
2006 35,911
2007 47,724
Thereafter 175,055
330,329
Dec. 31, 2002 Dec. 31, 2001
‘000 euros ‘000 euros
Restructuring program 2,339 794
Accruals for environmental risk 311 311
Anniversary payments 4,959 5,777
Pre-retirement part-time work 2,138 1,731
Other 25 1
9,772 8,614
Accruals for environmental risk relate to obligations to recultivate land and address environmental
damage.
Accruals for restructuring have been formed to cover probable quantifiable liabilities in
the accounts. This mainly relates to compensation to 12 hourly paid and 16 monthly salaried
staff in the Infrastructure Technology Business Center. This position also covers potential
losses from current rental agreements which cannot be terminated in the near future, as well