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

Consolidated Financial Statements of gildemeister Aktiengesellschaft: Notes to the Consolidated Financial Statements 185Other long-term liabilities take account of deferred income. These include the guaranteedinvestment grants from the funds of the joint aid programme “Improvement of the RegionalEconomic Structure” and investment subsidies pursuant to the investment subsidy act inan amount of € 3,090 k (previous year: € 3,359 k) as applied under ias 20 “Accounting forGovernment Grants and Disclosure of Government Assistance”.In the financial year 2010, investment allowances in an amount of € 222 k (previousyear: € 444 k) were paid. The accruals will be dissolved in accordance with the depreciationprocedure for tax-privileged capital assets and recognised in the income statement.33 trade creditorsand other short-termliabilitiesShort-term financial liabilities are shown as follows:31 Dec. 2010 31 Dec. 2009€ k € kTrade creditors 264,431 141,120Fair market value of derivative financial instruments 1,798 1,006Debtors with credit balance 5,035 3,432Liabilities from finance lease arrangements 1,601 1,614Liabilities from accrued interest paid for the borrowers‘ notes 1,927 1,264Other short-term financial liabilities 15,569 12,413290,361 160,849Trade creditors include payables to Younicos ag in an amount of € 276 k (previousyear: € 0 k).The fair value of derivative financial instruments mainly involves the fair value forforward exchange contracts in usd, in cad and in gbp.Liabilities arising from current finance leases amounted to € 1,601 k (previous year:€ 1,614 k) and show the discounted value of future payments from finance leases. Theseare mainly liabilities arising from finance leases for buildings.Current liabilities arising from finance leases are recognised without future interestpayable. All future payments arising from finance leases total € 4,791 k (previous year:€ 3,430 k).Liabilities from the accrual of interest expense resulted mainly from taking accountof the accrued interest expense for the respective period for the borrowers’ notes in anamount of € 1,927 k (previous year: € 1,264 k) for the period 29 November 2010 to 31December 2010, which will be paid out in May 2011.Other financial liabilities include liabilities from bills of € 9,536 k (previous year:€ 4,929 k), which arise from the acceptance of drafts and the issue of promissory notes.consolidated financialstatements