Annual Report 2010 - CMVM

Notes to the Consolidated Financial Statements as at 31 December 201037 - SUPPLIERS AND OTHER PAYABLESAs at 31 December 2010 and 2009, these headings had the following composition:CurrentNon-current2010 2009 2010 2009Other creditors 44,480 44,574 26,150 25,423SuppliersSuppliers current account 227,519 233,405 - -Fixed assets suppliers 155 1,107 - -227,674 234,512 - -38 - ACCOUNTS PAYABLE UNDER FINANCIAL LEASESAs at 31 December 2010 and 2009, the total net value of assets acquired under finance leases amounted to:2010 2009Land and natural resources 3,324 3,584Buildings and other constructions 230,379 230,029Basic equipment 34,166 16,199Transport equipment 2,861 2,924Tools and utensils 451 52Administrative equipment 220 72Other tangible fixed assets 259 108Fixed assets in progress - 4,305Industrial property 55 -271,715 257,273As at 31 December 2010 and 2009, the present value of the minimum lease payments was due as follows:2010 20092010 - 18,9202011 23,873 17,2212012 20,502 16,5172013 17,802 14,5712014 16,603 13,881After 2014 173,824 171,562252,604 252,672During the year ended on 31 December 2010, the Group contracted a sale and leaseback operation involving the Lagoas Park undertaking, which is essentially recorded as an investmentproperty (Note 21). In order to secure the above operation, the ownership of lots 7, 8, 9, 10, 11, 12, 15, 16 and 23 of that undertaking was transferred (Note 41).The finance lease contracts earn interest at market rates and have defined durations.The financial commitments under lease contracts are secured by the reserve of ownership of the leased assets.196