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The impact of non-recurring items on the separate consolidated income statement line items is as follows: (millions of euros) 2011 2010 Other income: Other - 2 Acquisition of goods and services / Other operating expenses: Expenses for corporate-related transactions (8) - Sundry expenses (4) (15) Employee benefits expenses: Expenses for mobility under Law 223/91 (12) (258) Impact on EBITDA (24) (271) Gains (losses) on non-current assets: Net gains on disposal of Elettra - 19 Net gain on disposal of BBNed - 1 Net gain on disposal of Loquendo 35 - Impairment reversals (losses) on non-current assets: Impairment loss on Core Domestic goodwill (7,307) - Impairment loss on Media goodwill (57) (46) Accruals to provision for risks and charges on investments - (4) Impact on EBIT (7,353) (301) Share of profits (losses) of associates and joint ventures accounted for using the equity method - Other income (expenses) from investments: Reversal of impairment loss on EtecSA (Cuba) - 30 Measurement of investment in Sofora at fair value - 266 Gains on disposal of Other investments - 1 Other income connected with investments - Entel (Bolivia) - 29 Net gain on disposal of EtecSA (Cuba) 17 - Other expenses connected with investments (1) - Finance income (expenses): Other finance income and expenses - 1 Impact on profit (loss) before tax from continuing operations (7,337) 26 Effect of income taxes on non-recurring items 5 72 Discontinued operations (13) (7) Impact on profit (loss) for the year (7,345) 91 Telecom Italia Group Consolidated Financial Statements Note 41 – Significant non-recurring events and transactions 288
Note 42 – Positions or transactions resulting from atypical and/or unusual operations In accordance with Consob Communication DEM/6064293 of July 28, 2006, a statement is made to the effect that in 2011 the Telecom Italia Group has not put into place any atypical and/or unusual transactions, as defined by that Communication. Telecom Italia Group Consolidated Financial Statements Note 42 – Positions or transactions resulting from atypical and/or unusual operations 289
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Annual Report 2011 Relazione interm
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Statements of Comprehensive Income
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Letter to the Shareholders To the S
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Key Operating and Financial Data -
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The trend of the key operating and
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Liquidity margin: at December 31, 2
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Consolidated Operating and Financia
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Review of Operating and Financial P
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The fixed-line area, with a contrac
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- lower expenses of 246 million eur
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Business Unit (-329 million euros)
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Income tax expense Income tax expen
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eflect the definitive fair value of
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Capital expenditures on an accrual
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Finance expenses, income taxes and
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The financial risk management polic
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On August 3, 2011, a bilateral stan
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Research and Development As for “
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Consolidated Financial Statements -
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Consolidated Statements of Financia
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Consolidated Statements of Cash Flo
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Highlights - The Business Units of
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The Business Units of the Telecom I
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International Wholesale (millions o
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compared to the same period of 2010
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In detail: (millions of euros) 2011
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Cubomusica GRATIS per 1 anno. Durin
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In particular, for the unbundling c
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International roaming On July 6, 20
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For the telecommunications operator
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Brazil The Telecom Italia Group ope
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EBIT EBIT is 2,294 million reais, i
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Argentina The Telecom Italia Group
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Mobile telephony service: Telecom P
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Again with regard to value-added se
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Revenues Revenues amount to 238 mil
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Principal changes in the regulatory
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• it erroneously attributed the m
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European sales recorded a good tren
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Review of Operating and Financial P
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The reduction of 483 million euros
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(162 million euros, on the basis of
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Equity Equity amounts to 20,537 mil
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Dividends flow Dividends paid amoun
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Bonds Bonds at December 31, 2011 to
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Financial Statements - Telecom Ital
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Statements of Financial Position (m
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Additional Cash Flow Information (m
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Corporate Boards at December 31, 20
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Macro-Organization Group at Decembe
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other sources of information, the p
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Relative performance by Tim Partici
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Related Party Transactions In accor
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the Dow Jones Sustainability World
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Economic value generated and distri
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Type of customer care customer Over
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Involvement initiatives For the fif
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Vehicles Telecom Italia S.p.A. 2011
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• cogeneration/trigeneration: 5 l
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• an increase in emissions attrib
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channels have been registered as "D
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• Network and service platform in
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• E-learning and evolved teaching
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Tim Brasil Group (units) 12.31.2011
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Development The 2010 Group performa
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Internal communication The main act
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introduced on this subject. The agr
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On August 2, 2011 the second phase
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The Risk Management department mana
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Net financial debt is calculated as
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Bundle. Commercial offer including
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HFC (Hydrofluorocarbons). Hydrofluo
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Shared Access. Methods of shared ac
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Consolidated Financial Statements a
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Note 34 - Other income (expenses) f
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Equity and Liabilities (millions of
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Consolidated Statements of Comprehe
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Consolidated Statements of Cash Flo
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Note 1 - Form, content and other ge
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• Argentina: includes fixed (Tele
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Note 2 - Accounting policies Going
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case of loss of control of a subsid
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Impairment of intangible and tangib
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• held to maturity (originally mo
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Inventories Inventories are measure
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Revenues are recognized to the exte
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Use of estimates The preparation of
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Note 3 - Business combinations Acqu
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Acquisition of control of Sofora Te
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Note 4 - Goodwill Goodwill shows th
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Core Domestic International Wholesa
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Changes in key variables needed to
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Concessions, licenses, trademarks a
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Note 6 - Tangible assets (owned and
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Gross carrying amount, accumulated
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Gross carrying amount, accumulated
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Aggregate data for 2011 and 2010, p
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Note 9 - Financial assets (non-curr
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Note 10 - Miscellaneous receivables
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The temporary differences which mak
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In addition to this effect, the inc
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Note 13 - Trade and miscellaneous r
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Note 14 - Equity Equity includes: (
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• the reduction of share capital
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• to mandate the board of directo
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Gross financial debt according to t
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The following table lists the bonds
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Nortel Inversora S.A. Preferred Ser
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Such obligation, required by nation
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Revolving Credit Facility The follo
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Note 17 - Financial risk management
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of market parameters, even though t
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In order to limit the risk of the n
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Note 18 -Derivatives Derivative fin
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Note 19 - Supplementary disclosures
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Comparison between carrying amount
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Carrying amount for each class of f
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Fair value hierarchy level for each
Page 237 and 238: Note 20 - Employee benefits Employe
Page 239 and 240: The effect on the income statement,
Page 241 and 242: Note 22 - Miscellaneous payables an
Page 243 and 244: Note 24 - Contingent liabilities, o
Page 245 and 246: On December 16, 2011 Telecom Italia
Page 247 and 248: In a judgement on November 2, 2011,
Page 249 and 250: Greece -DELAN During 2009, the comp
Page 251 and 252: c) Commitments and guarantees Guara
Page 253 and 254: Note 27 - Acquisition of goods and
Page 255 and 256: Note 29 - Other operating expenses
Page 257 and 258: Note 32 - Gains (losses) on disposa
Page 259 and 260: Note 34 - Other income (expenses) f
Page 261 and 262: Finance expenses Finance expenses d
Page 263 and 264: Note 36 - Profit (loss) for the yea
Page 265 and 266: Future potential changes in share c
Page 267 and 268: Note 38 - Segment reporting a) Repo
Page 269 and 270: Headcount by Operating Segment (num
Page 271 and 272: The effects on the individual line
Page 273 and 274: Transactions with associates and jo
Page 275 and 276: Transactions with companies control
Page 277 and 278: Transactions with other related par
Page 279 and 280: (millions of euros) 12/31/2011 12/3
Page 281 and 282: In the 2011, the contributions paid
Page 283 and 284: Description of other Telecom Italia
Page 285 and 286: Calculation of fair value measureme
Page 287: Note 41 - Significant non-recurring
Page 291 and 292: c) Operating leases Revenue related
Page 293 and 294: Note 44 - Events subsequent to Dece
Page 295 and 296: Name Head office Currency Share cap
Page 297 and 298: Name Head office Currency Share cap
Page 299 and 300: Certification of the Consolidated F
Page 301 and 302: Consolidated Financial Statements T
Page 303 and 304: Contents Telecom Italia S.p.A. Sepa
Page 305 and 306: Statements of Financial Position As
Page 307 and 308: Separate Income Statements (euros)
Page 309 and 310: Statements of Changes in Equity Sta
Page 311 and 312: Additional Cash Flow Information (t
Page 313 and 314: Profit (loss) before tax from conti
Page 315 and 316: • the capitalized costs can be me
Page 317 and 318: Intangible and tangible assets with
Page 319 and 320: Financial liabilities hedged by der
Page 321 and 322: Starting from January 1, 2007, Ital
Page 323 and 324: Finance income and expenses Finance
Page 325 and 326: • IFRIC 19 (Extinguishing Financi
Page 327 and 328: The cost of capital used for the es
Page 329 and 330: Type of license The net carrying am
Page 331 and 332: Note 5 - Tangible assets (owned and
Page 333 and 334: 12/31/2010 Accumulated impairment l
Page 335 and 336: Note 6 - Investments Investments de
Page 337 and 338: (thousands of euros) Carrying amoun
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5,620 thousand euros for receivable
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Note 8 - Miscellaneous receivables
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The temporary differences which mak
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Note 10 - Inventories Inventories a
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Trade receivables amount to 4,162,0
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Note 12 - Equity Equity is composed
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Share capital carries a restriction
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The following statement provides ad
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With regard to additional capital i
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Note 13 - Financial liabilities (no
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The main components of financial li
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elating to items classified as curr
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• the loan contract signed by Tel
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Note 14 - Net financial debt As req
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Total Financial liabilities (at the
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Financial liabilities - Maturities
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Currency of denomination Notional a
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Carrying amount for each class of f
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Fair value hierarchy level for each
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Comparison between carrying amount
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Gains and losses by IAS 39 category
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Under IAS 19, employee severance in
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Note 19 - Provisions Provisions dec
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Note 21 - Trade and miscellaneous p
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Note 22 - Contingent liabilities, o
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outcome is considered probable. As
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Federazione Anti Pirateria Audiovis
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offers, contractual profile changes
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Note 23 - Revenues Revenues decreas
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Note 26 - Employee benefits expense
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Note 30 - Depreciation and amortiza
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Note 34 - Finance income and Financ
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Note 35 - Related party transaction
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STATEMENT OF FINANCIAL POSITION LIN
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Transactions with subsidiaries The
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Total income (expenses) from invest
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(thousands of euros) 12/31/2011 12/
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STATEMENT OF CASH FLOWS LINE ITEMS
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Remuneration to key managers In 201
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The beneficiaries were identified i
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Parameters used to determine fair v
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Note 37 - Significant non-recurring
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Expense related Telecom Italia has
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Note 41 - List of investments in su
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Certification of the Separate Finan
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Telecom Italia S.p.A. Separate Fina
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Report of the Board of Statutory Au
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The Board of Auditors has overseen
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amendments Agreed procedures and de
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PricewaterhouseCoopers S.p.A. commu
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On 7 July 2011, after the alignment
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met the Chairman of the Conselho Fi
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Regarding the provisions of article
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18. No significant facts that shoul
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non-compliances imputable to the ex
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corporate bodies, and in particular
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amount equal to 2% of the par value
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curricula vitae are attached) as Di
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at least twenty-five days before th
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Authorization to increase share cap
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and this is confirmed in a report p
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5.6 - For five years starting from
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Proposed Resolution The Shareholder
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9.8 - In appointing directors who f
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only one slate. 17.10 - The Board o
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17.17 - At the first renewal of the
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