PDF (7.3 MB) - GILDEMEISTER Interim Report 3rd Quarter 2012

180Consolidated Financial Statements of gildemeister Aktiengesellschaft: Notes to the Consolidated Financial Statementspotential insolvency through a mutual trust relationship. To secure the pension plan,cash assets are transferred into a trust property. The members of this trust property aredomestic group companies.The assets are defined as “plan assets” in accordance with ias 19.7 and balancedagainst the related provision. Any proceeds arising from the pension plan assets arebalanced against the related expenses. On 31 December 2010 liquid assets of € 3,020 k(previous year: € 4,426 k) were transferred to the trust property.Risks arising from warranties and retrofitting relate to present obligations to thirdparties, the use of which is probable and the anticipated amount of which can be reliablyestimated. Due to previous experience, measurement of provisions was carried out onthe basis of the conditions and considering possible increases in value at the end of thereporting period.The other obligations primarily include provisions for installations to be carried out,invoiced sales and other various services.The movement in the other provisions is illustrated in the analysis of provisions:Other1 Jan. 2010 Transfers Used Retransfers changes 31 Dec. 2010€ k € k € k € k € k € kTax provisions 12,105 7,909 11,796 29 – 1,044 7,145Obligations arisingfrom personnel 63,260 31,134 30,453 2,827 391 61,505Risks arising from warrantiesand retrofitting 30,823 10,859 10,530 2,042 240 29,350Obligations arisingfrom sales 33,570 31,467 27,328 5,080 4,280 36,909Legal and consultancy fees andcosts of preparation of accounts 4,025 3,537 3,177 427 84 4,042Other 17,937 13,188 10,666 3,064 – 3,373 14,022149,615 90,185 82,154 13,440 1,622 145,828Total 161,720 98,094 93,950 13,469 578 152,973consolidated financialstatementsThe other changes include currency adjustments and transfers.Obligations arising from personnel include provisions for the long-term incentive totalling€ 1,465 k (previous year: € 320 k). A detailed description of the long-term incentivecan be found in the Corporate Governance chapter on page 70 et seq. of the GroupManagement Report.Obligations in the sales area include obligations for commission, contractual penaltiesand other obligations.