Annual Report 2010 - CMVM

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Notes to the Consolidated Financial Statements as at 31 December 201010 - CHANGE IN PRODUCTIONThe statement of the change in production reported for the year ended on 31 December 2010 was as follows:Products andworks inprogressIntermediateand finishedproductsTotalGross assets:Balance as at 1 January 2010 193,478 25,825 219,303Currency conversion adjustments 28 6,924 6,952Adjustments (64,203) (3,553) (67,756)Change in production 6,420 (7,666) (1,246)Balance as at 31 December 2010 135,723 21,530 157,253Accumulated impairment losses of inventories:Balance as at 1 January 2010 77 - 77Reductions (Note 8) (71) - (71)Transfers (6) - (6)Balance as at 31 December 2010 - - -Net value as at 31 December 2010 135,723 21,530 157,253As at 31 December 2010 and 2009, the products and work in progress related to the following:2010 2009Construction contracts - 64,648Real estate projects 135,723 128,830135,723 193,478As at 31 December 2010 and 2009, the real estate projects were being developed by the following entities:2010 2009Teixeira Duarte - Gestão de Participações e Investimentos Imobiliários, S.A. 27,679 17,173TD VIA - Sociedade Imobiliária, S.A. 27,188 26,335QUINTA DE CRAVEL - Imobiliária, S.A. 16,765 17,714V8 - Gestão Imobiliária, S.A. 16,293 25,093TDSP - Bela Vista, Empreendimentos Imobiliários, SPE, Ltda. 11,985 9,142TDSP - Galeano de Castro, Empreendimentos Imobiliários, SPE, Ltda. 10,234 8,818PARCAUTO - Sociedade Imobiliária, S.A. 6,380 6,060TDSP 07 - Empreendimentos Imobiliários, SPE, Ltda. 5,456 -TDSP 09 - Empreendimentos Imobiliários, SPE, Ltda. 3,283 -TDSP 05 - Empreendimentos Imobiliários, SPE, Ltda. 2,877 -IMOPREDOUÇOS - Sociedade Imobiliária, S.A. 1,833 1,710ANGOIMO - Empreendimentos e Construções, Lda. 362 336TDPG - Empreendimentos Imobiliários e Hoteleiros, Ltda. 331 -TDSP - Direitos Humanos, Empreendimentos Imobiliários, SPE, Ltda. 274 2,869TDSP - Maratona, Empreendimentos Imobiliários, SPE, Ltda. 258 9,084TDSP -Elisa de Moraes - Empreendimentos Imobiliários, Ltda. - 1,138Other 4,525 3,358135,723 128,830As at 31 December 2010 and 2009, there were no inventories pledged as security for liabilities.172
Notes to the Consolidated Financial Statements as at 31 December 201011 - STAFF COSTSThe average number of employees in the year ended 31 December 2010, by operating segment, was as follows:2010Construction 8,464Cement, concrete and aggregates 460Concessions and services 1,257Real estate 94Hotel services 1,324Distribution 550Energy 250Automobile 636Other 113,036Staff costs for the years for the year ended on that data were as follows:2010Wages and salaries 139,416Other remunerations 59,706Payroll costs 34,959Insurance 4,534Retirement benefits (a) 2,443Other staff costs 12,241253,299(a) The costs of retirement benefits correspond to contributions made to the pension plan (Note 2.17).12 - OPERATING LEASESCosts of EUR 1,032 thousand were recorded relative to operating lease instalments for the year ended on 31 December 2010, which were recognised under the heading"External supplies and services".The instalments of operating leases held by the Group as at 31 December 2010 have the following maturities:20102011 9932012 6192013 1982014 132015 and following -1,823173
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Annual Report 2010 - CMVM

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