Annual Report 2012 - Indesit

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Separate financial statements at 31 December 2012 – Notes Notional amount Fair value of derivatives (million euro) Nature of risk hedged 31.12.2012 31.12.2011 31.12.2012 31.12.2011 Cash flow hedges IRS on short-term borrowings Interest rate 350.0 350.0 (12.5) (11.6) Total 350.0 350.0 (12.5) (11.6) 10. Information required by IAS 24 on the remuneration of management and on related parties 10.1 Remuneration of management In addition to the executive and non-executive directors and the statutory auditors, from 2012 there are now 7 managers with strategic responsibility for operations, planning and control (5 through 2011). These are the Administration, Finance and Control Manager, the Manager of the Home Care Division, the Manager of the Food Treatment Division, the Manager of the Services & Consumer Care Division, the Sales Manager, the Human Resources Manager and the Supply Chain and IT Manager. The table below lists the expected gross remuneration of the above persons for 2012, comprising all forms of compensation (gross pay, bonuses, fringe benefits etc.), and the bonuses accrued but not yet paid, since subject to the achievement of annual objectives and continued employment by the Group at the vesting date. Remuneration and annual fees for the year 2012 due to directors, statutory auditors and executives (million euro) Short-term benefits Long-term benefits Stock options Directors 4.6 1.2 - Statutory Auditors 0.2 - - Executives 4.5 2.2 - Total 9.2 3.4 - Remuneration and annual fees for the year 2011 due to directors, statutory auditors and executives (million euro) Short-term benefits Long-term benefits Stock options Directors 4.0 1.3 - Statutory Auditors 0.2 - - Executives 3.1 1.9 - Total 7.2 3.3 - 184
Separate financial statements at 31 December 2012 – Notes Change in fair value of derivatives at 31.12.2012 vs 31.12.2011 Change in fair value of underlyings at 31.12.2012 vs 31.12.2011 Change in fair value of underlyings at 31.12.2012 vs inception date Change in fair value of derivatives at 31.12.2011 vs inception date Other noncurrent financial assets Current financial assets 31 December 2012 Medium/ long-term loans and borrowings Banks and other financial liabilities Total (0.9) n.a. n.a. n.a. - - (7.0) (5.5) (12.5) (0.9) - - - - - (7.0) (5.5) (12.5) 10.2 List of related parties The list of companies (other than subsidiaries) deemed to be related parties pursuant to IAS 24 is presented below. All commercial and financial transactions with these entities were arranged on an arms’ length basis and in the interests of the Company. List of related parties Cine District Entertainment S.r.l. Faber Factor S.r.l. in liquidation Fineldo S.p.A. Immobiliare Fineldo S.r.l. Merloni Progetti S.p.A. M P & S S.r.l. Solar COOL S.r.l. Solar STOCK S.r.l. Solar WASH S.r.l. Tecnosolare Carinaro S.r.l. TM NEWS S.p.A. Tradeplace B.V. Indesit Company UK Ltd. Group Personal Pension Plan Merloni Ireland Pension Plan Type of relationship Other related - Related to a member of the Board of Directors of Fineldo Other related - Controlled by Fineldo S.p.A., Group parent of Indesit company Group Parent belonging to Vittorio Merloni Other related - Controlled by Fineldo S.p.A., Group parent of Indesit company Other related - Controlled by Fineldo S.p.A., Group parent of Indesit company Other related - Related to a member of the Merloni family Other related - Controlled by Fineldo S.p.A., Group parent of Indesit company Other related - Controlled by Fineldo S.p.A., Group parent of Indesit company Other related - Controlled by Fineldo S.p.A., Group parent of Indesit company Other related - Controlled by Fineldo S.p.A., Group parent of Indesit company Other related - Related to a member of the Board of Directors of Indesit Associate Pension fund Pension fund In addition to the above companies, certain natural persons are also deemed to be related parties: members of the Board of Directors and the Board of Statutory Auditors, managers with strategic responsibility for management, planning and control activities, and the close family members of one these parties, as defined in IAS 24. Their names are not listed. Information about subsidiaries is provided in note 7.4 and in the attachments to the financial statements. 185
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Annual Report 2012
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Indesit Company S.p.A. Registered O
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Annual Report 2012 - Indesit

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