to download Telecom Italia Annual Report 2011 - Company Reporting

Note 20 – Miscellaneous payables and
other non-current liabilities
Miscellaneous payables and other non-current liabilities decreased 90,729 thousand euros compared to
December 31, 2010. The composition is as follows:
(thousands of euros) 12/31/2011 12/31/2010
Payables to social security agencies 44,965 65,741
Capital grants 36,263 54,522
Deferred income 473,322 527,420
Payables to subsidiaries 30,157 27,753
Total 584,707 675,436
Payables to social security agencies refer to the residual amount payable to INPS for estimated
employee benefit obligations owed under Law 58/1992. Details are as follows:
(thousands of euros) 12/31/2011 12/31/2010
Non-current payables:
Due from 2 to 5 years after the end of the reporting period 27,106 44,309
Due beyond 5 years after the end of the reporting period 17,859 21,432
44,965 65,741
Current payables 23,326 76,154
Total 68,291 141,895
Capital grants decreased 18,259 thousand euros following the depreciation recorded in the separate
income statement on the assets to which the grants refer.
Medium/long-term deferred income includes 461,712 thousand euros for the deferral of revenues from
the activation of telephone service (513,488 thousand euros at December 31, 2010).
Payables to subsidiaries refer to payables arising from adoption of the consolidated tax return,
principally in reference to Olivetti (10,967 thousand euros) and Telecom Italia Media
(8,460 thousand euros).
Telecom Italia S.p.A. Separate Financial Statements Note 20 – Miscellaneous payables and other non-current liabilities 384