Annual Report 2005 - Tenaris
Annual Report 2005 - Tenaris
Annual Report 2005 - Tenaris
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12. Customer advances<br />
The balance of R$ 101,336 (R$ 155,911 on December 31,<br />
2004) in the parent company and R$ 122,435 (R$ 214,551<br />
on December 31, 2004) in the consolidated statements is for<br />
customer advances for the production of goods or provision<br />
of services. This liability is represented by the contractual<br />
obligation to produce such goods or provide services<br />
and if these should not materialize, the return of the<br />
money received.<br />
13. PAES – Special installment plan – Law 10.684/03<br />
On July 31 2003 the parent company Confab Industrial<br />
S.A. and its subsidiary Confab Montagens Ltda, joined the<br />
PAES regime, benefiting from payment in up to 120<br />
Labor suits<br />
Labor suits – Rio de Janeiro Refrescos S.A.<br />
Tributary suits<br />
Tributary suits – Rio de Janeiro Refrescos S.A.<br />
Civil suits<br />
Civil suits – Rio de Janeiro Refrescos S.A.<br />
The provisions are as follows:<br />
Balance on December 31, 2004<br />
Provisions constituted, net of reversions<br />
Compensation with amounts receivable – Rio de Janeiro Refrescos<br />
Payments<br />
Balance on December 31, <strong>2005</strong><br />
installments. This involved giving up actions using tax<br />
losses and negative social contribution, not taking into<br />
consideration the limitation of 30% of profit in the period.<br />
These amounts were provisioned as contingencies and have<br />
been transferred to current and long term liabilities.<br />
14. Contingencies<br />
It is the company's practice to make provisions for the labor,<br />
tax and civil claims which its legal advisors consider to be<br />
probable losses; management judges that historically such<br />
provisions have proved sufficient to cover eventual losses.<br />
On the dates of the financial statements, the Company had<br />
the following liabilities related to contingencies:<br />
<strong>2005</strong><br />
23,459<br />
3,335<br />
9,339<br />
2,460<br />
1,540<br />
1,000<br />
41,133<br />
22,358<br />
23,389<br />
(2,907)<br />
(1,707)<br />
41,133<br />
Parent company Consolidated<br />
2004<br />
16,211<br />
3,375<br />
1,118<br />
651<br />
3<br />
1,000<br />
22,358<br />
<strong>2005</strong><br />
24,670<br />
3,335<br />
11,067<br />
2,460<br />
1,540<br />
1,000<br />
44,072<br />
25,127<br />
23,837<br />
(2,907)<br />
(1,985)<br />
44,072<br />
2004<br />
17,467<br />
3,375<br />
2,601<br />
651<br />
33<br />
1,000<br />
25,127<br />
Parent company Consolidated<br />
71. Financial Statements <strong>2005</strong>
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