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CONSOLIDATED FINANCIALSTATEMENTS BarryCallebaut Annual Report2010/11 21 Trade payables and other currentliabilities as of August 31, 2011 2010 in thousands of CHF Trade payables 415,342 460,442 Accrued wagesand social security 59,810 75,854 Related parties 1,845 3,531 Accrued expenses 38,219 52,586 Liability put option over existing non-controlling interest – 31,188 Other payables 116,961 81,288 Payables representing financial liabilities 632,177 704,889 Fair value of hedged firm commitments (note 14) 3,151 41,755 Other taxes and payables to governmental authorities 21,839 19,752 Deferred income – 3,141 Other liabilities 24,990 64,648 Total trade payables and other currentliabilities 657,167 769,537 As disclosed in notes 9and 12, the Group participates in aprogram where receivables are sold to a financial institution and derecognized from the balance sheet. Amounts payable to the financial institution amounted to CHF 14.9 million as of August 31, 2011 (2010: CHF 22.8 million), consisting of the balance of receivables collected before the next rollover date of CHF 41.2 million (2010: CHF 44.2 million), less discounts on receivables sold of CHF 26.3 million (2010: CHF 21.4 million). These amounts are included in other payables. Other payables also consist of outstanding ledger balances with commodity brokers. To support Barry Callebaut’sgeographic expansion and to further strengthen its footprint in fast-growing emerging markets such as Asia, the Group signed an agreement to acquire the remaining 40% stake inBarry Callebaut Malaysia Sdn Bhd, Malaysia as foreseen in the initial agreement under the title of aput and call option. As aresult of the put option agreement, the Group had not recorded any non-controlling interest. Instead, aliability on the remaining 40% non-controlling interest in Barry Callebaut Malaysia Sdn Bhd had been recognized previously. The remaining 40% non-controlling interest was acquired in April 2011 for CHF 37.7 million, with the related liability derecognized at the same time. 106
CONSOLIDATED FINANCIALSTATEMENTS BarryCallebaut Annual Report2010/11 22 Provisions 2010/11 Restructuring in thousands of CHF Litigation & claims Other Total BalanceasofAugust 31, 2010 6,186 3,985 11,248 21,419 Additions 228 1,702 3,434 5,364 Usage (4,257) (410) (3,065) (7,732) Release of unused provisions (301) (45) (1,958) (2,304) Reclassification – – (166) (166) Reclassified to held forsale – – (1,762) (1,762) Currency translation adjustments (268) (659) (1,044) (1,971) as of August 31, 2011 1,588 4,573 6,687 12,848 of which: Current 1,588 3,780 2,082 7,450 Non-current – 793 4,605 5,398 2009/10 Restructuring in thousands of CHF Litigation & claims Other Total BalanceasofAugust 31, 2009 10,467 3,834 6,652 20,953 ChangeinGroup structure – acquisitions 500 775 3,439 4,714 Additions 4,435 574 4,666 9,675 Usage (7,920) (648) (2,582) (11,150) Release of unused provisions (61) (165) – (226) Currency translation adjustments (1,235) (385) (927) (2,547) as of August 31, 2010 6,186 3,985 11,248 21,419 of which: Current 5,846 3,395 6,317 15,558 Non-current 340 590 4,931 5,861 Restructuring Usage of restructuring provisions in 2010/11 mainly related to plant reorganizations. Litigation &claims The amount includes provisions for certain litigations and claims that have been set up to cover legal and administrative proceedings that arise in the ordinary course of business. In management’s opinion, after taking appropriate legal advice, the outcome of these legal claims will not give rise to any significant loss beyond the amounts provided as of August 31, 2011. Other provisions Other provisions relate mainly to amounts that have been provided to cover the negative outcome of onerous contracts related to operational issues and tax matters. 107
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ANNUALREPORT 2010/11
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Barry Callebaut aims to significant
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KEY FIGURES BarryCallebaut Annual R
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FIVE REASONS TO INVEST IN BARRY CAL
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INTERVIEWWITH THE CHAIRMAN AND THE
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EMPLOYEES BarryCallebaut Annual Rep
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EMPLOYEES BarryCallebaut Annual Rep
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REGION EUROPE BarryCallebaut Annual
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REGION EUROPE BarryCallebaut Annual
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REGION AMERICAS BarryCallebaut Annu
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REGION ASIA-PACIFIC BarryCallebaut
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GLOBALSOURCING&COCOA BarryCallebaut
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INNOVATION BarryCallebaut Annual Re
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CorporateSocial Responsibility andS
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GLOSSARY BarryCallebaut Annual Repo
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BarryCallebaut AG (head office) Wes
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