ONE ROOF

Sundry other financial liabilities mostly contain short-term
loans and other debt.
29. Other liabilities
EUR 101,887,000 (2008: EUR 82,636,000) of the liabilities
under derivative financial instruments relates to obligations in
the Leighton Group to make payments into the equity of two
infrastructure project companies and EUR 51,724,000 (2008:
EUR 37,297,000) relates to interest-rate swaps held by HOCH-
TIEF Aktiengesellschaft.
In connection with the sale in the two preceding years of a total
of 16.25 percent of the indirectly held interests in the Vespucio
Norte Express (VNE) project in Chile, HOCHTIEF PPP Solutions
GmbH gave the investors equity verification guarantees
ending on December 31, 2012. The equity verification guarantees
had a fair value of EUR 16,000,000 as of the balance
sheet date (2008: EUR 25,600,000) and are reported as part
of the non-current liabilities under derivative financial instruments.
Deferred income mainly comprises insurance premiums re-
ceived in advance for subsequent years (these are reversed to
income over the life of the policies) and rental payments.
❘ Information for our Shareholders ❘ ❘ Management Report ❘ ❘ Financial Statements and Notes ❘
(EUR thousand) Dec. 31, 2009 Dec. 31, 2008
Non-current Current Non-current Current
Liabilities under derivative financial instruments 131,163 74,277 170,444 17,366
Liabilities to employees – 166,579 – 107,323
Deferred income 42,451 28,460 47,373 30,469
Tax liabilities (excluding income taxes) – 39,854 – 58,242
Social insurance liabilities – 7,253 – 6,236
Sundry other liabilities 11,497 65,134 1,203 47,472
185,111 381,557 219,020 267,108
30. Trade payables
(EUR thousand) Dec. 31,
2009
Trade payables
Dec. 31,
2008
Gross amount due to customers
from construction
work (POC)
Progress payments
(731,567) (689,871)
received 1,368,039 1,354,407
To construction joint
636,472 664,536
ventures 87,351 132,530
Other 3,662,321 3,755,826
Advance payments
4,386,144 4,552,892
received
From non-consolidated
3,655 6,748
subsidiaries 1,491 323
From participating interests 348 1,808
4,391,638 4,561,771
Sundry other liabilities comprise other non-trade payables. The EUR 636,472,000 (2008: EUR 664,536,000) gross amount
due to customers from construction work (POC) represents
such amounts where the progress payments received from
customers exceed the incurred contract costs including a pro
rata allocation of contract net profit.
Trade payables due to companies accounted for using the
equity method were EUR 177,000 (2008: EUR 1,786,000).
31. Current income tax liabilities
The EUR 10,201,000 (2008: EUR 19,303,000) in current income
tax liabilities comprises amounts payable to domestic and
foreign revenue authorities.
Annual Report 2009 171