ACCIONA, S.A. AND SUBSIDIARIES (Consolidated Group ...

Provision for other longterm
employee benefit
obligations
Balance at 31/12/09 5,313
Additions and period provisions 382
Reductions (421)
Transfers --
Other changes --
Balance at 31/12/10 5,274
Additions and period provisions 294
Reductions (647)
Transfers --
Other changes --
Balance at 31/12/11 4,921
These liabilities relate in full to the collective redundancy procedures of the Group
companies in Spain.
The Plan affects employees with at least ten years of acknowledged service. Employees
aged 50 or more at 31 December 2005 are entitled to adhere to a pre-retirement plan at the
age of 60, of which they may avail themselves between the ages of 50 and 60, provided
that there is an agreement between the employee and the company concerned. For the Plan
to apply to employees younger than 50 at 31 December 2005, a written request from the
employee and the acceptance thereof by the Group are required.
The conditions applicable to employees who have not yet reached 50 years of age affected
by the voluntary redundancy plan consist of a termination benefit of 45 days' salary per
year of service plus an additional amount of 1 or 2 months' salary based on the employee's
age at 31 December 2005.
In 2011 the number of employees considered in this connection was 115 (2010: 119
employees), of whom 9 had already taken early retirement (5 employees at 2010 yearend).
The impact of these plans on the consolidated income statement is not material.
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