Annual Report 2010 (PDF, 5.2MB) - Panalpina Annual Report 2012

Consolidated and Annual Financial Statements 2010
The maturity of the Group’s long-term financial debts (excluding lease liabilities) is shown in the following table:
125
2010 2009
in thousand CHF
2011 4 4
Total 4 4
The carrying amounts of the Group’s borrowings are denominated in the following currencies:
in thousand CHF 2010 2009
USD 6,020 10,809
COP 2,835 373
GBP 654 1,347
PLN 165 133
EUR 18 162
AUD 0 58
Others 46 4
Total 9,738 12,886
26 Long-term provisions
2010 (in thousand CHF)
Employee
benefits
Claims
and other
provisions
Total provisions
Balance on 1 January 28,756 37,902 66,658
Translation differences (2,513) (3,725) (6,238)
Addition 9,492 70,923 80,415
Reversal of unused amount (2,939) (35,449) (38,388)
Charged in income statement 6,553 35,474 42,027
Utilization (5,092) (514) (5,606)
Transfers 6,746 8,992 15,738
Balance on 31 December 34,450 78,129 112,579
2009 (in thousand CHF)
Employee
benefits
Claims
and other
provisions
Total provisions
Balance on 1 January 26,784 48,986 75,770
Translation differences (4) (806) (810)
Addition 6,692 4,869 11,561
Reversal of unused amount (339) (3,618) (3,957)
Charged in income statement 6,353 1,251 7,604
Utilization (4,377) (11,529) (15,906)
Balance on 31 December 28,756 37,902 66,658
Employee provisions mostly relate to certain employee benefit obligations, such as “anniversary” benefits, termination payments and longservice
benefits mainly in Switzerland, Germany, Austria, Italy, France and the USA. The timings of these cash outflows can be reasonably
estimated based on past performance. In addition, employee provisions include the liability of CHF 1,508 thousand for the cash-settled
compensation plan. Significant provisions are discounted by using the corresponding discount rate applicable in the respective countries
where the obligation occurs.
Panalpina Annual Report 2010