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Hamon Annual Report 2010
31. Provisions for other liabilities and charges
Provisions for restructuring, warranty, losses on contract
and others are accounted for and estimated on the
basis of the probability of future cash-out payments as
well as historical information based on facts and
circumstances known at the closing date. The actual
charge may differ from the amounts accounted for.
‘Provisions for restructuring’ relate to entities located in
Belgium, the related cash-out being spread out in time.
The main movement during the year is related to the
increase of provisions for warranty due to the completion
of several contracts in the United States.
The Board of Directors considers that these amounts
constitute the best current estimate and that the Group
will not have to bear any additional charge.
in EUR ‘000’ restructuring Warranty Losses on other Total
contracts provisions
Balance as of 1st January 2008 905 1 213 739 2 120 4 977
Additions - 864 299 94 1 257
Reversals - - - (905) (905)
Use of provision (170) (70) (23) (898) (1 161)
Exchange difference - 97 24 (4) 117
Entry / changes in consolidation scope - - 367 124 491
Other movements - - - - -
Balance as of 31 December 2008 735 2 104 1 406 531 4 776
Additions 400 1 948 932 1 130 4 410
Reversals - (707) (151) (237) (1 095)
Use of provision (186) (203) - (176) (565)
Exchange difference - (94) 95 160 161
Entry / changes in consolidation scope - - - - -
Other movements (226) (30) (688) 944 -
Balance as of 31 December 2009 723 3 018 1 594 2 352 7 687
Additions - 1 793 56 231 2 080
Reversals - (580) (731) (780) (2 091)
Use of provision (371) (705) - (806) (1 882)
Exchange difference - 231 37 160 428
Entry / changes in consolidation scope - 129 - 118 247
Other movements 13 100 (672) 559 -
Balance as of 31 December 2010 365 3 986 284 1 834 6 469
Of which non-current provisions 255 326 85 265 931
Of which current provisions 110 3 660 199 1 569 5 538
32. Provisions for pensions
The provisions for pension benefits amount to EUR 3.521 thousand at the end of 2010. They are primarily made up of
post-employment benefits in line with local practices.