Financial Statements 2009 - Manutencoop

the changes in the present value of the defined benefit obligation (employee severance indemnities -tfr) are analysed below:(in thousands of Euro) 2009 2008provision as of 1 January (present value) 37,309 26,454increases due to business combinations 261 17,543benefits paid (4,564) (4,500)Curtailment (past service cost) (778)Cost of benefits earned (service cost) 438financial charges on outstanding obligations 2,072 728actuarial (gains)/losses on obligations 1,444 (2,916)reclassifications (537)as of 31 december 35,645 37,309the principal assumptions used to measure the obligation for employee severance indemnities aredescribed below:(percentages) 31 december 2009 31 december 2008discount rate 5.0% 5.7%inflation rate 2.0% 2.0%18. proVIsIons for rIsKs and charGesthe changes in the provisions for risks and charges during 2009 are detailed below:(in thousands of Euro) risks risks in litigation in fiscal agents’ restructuring employee totalin relation relation to progress disputes termination charges bonusesto equity testing and indemnityinvestments work performedas of 1 January 2009increases due tobusiness combinations37 1,020 3,170 0 55 3,839 306 8,427provisions 174 778 1,802 1,245 20 7,250 860 12,129utilisations (566) (693) (3,839) (587) (5,685)releases (404) (404)other 555 555as of 31 december 2009 211 1,232 3,875 1,245 75 7,250 1,134 15,022short term31 december 2009long term31 december 2009short term31 december 2008long term31 december 200817 382 71 7,250 178 7,898194 850 3,804 1,245 75 956 7,12414 120 36 3,839 306 4,31523 900 3,134 55 4,1120estimated employee turnover dal 3% al 11.50% dal 5% al 10%the estimated rate of turnover is presented as a range of values, since it varies considerably from onegroup company to another. the actuary appointed to make the recalculations used different estimatedturnovers for each company.the average number of group employees is analysed below, together with those on secondment tothe group from manutencoop società Cooperativa:2009 2008executives 78 75Clerical staff 1,745 1,870manual workers 10,343 9,889total emploYees 12,166 11,834in the above table, the average number of employees shown for 2008 considers the altair group andthe sicura group as if they had been acquired at the start of 2008, so that the average number ofemployees in 2009 can be compared with the prior year.the average number of employees on secondment in 2009, included in the above table, was 636(2008: 632).provision for risks in relation to equity investmentsthis caption mainly comprises the “provision for future losses” recorded in relation to progetto nuovosant’anna s.r.l., an associate.provision for risks in relation to testing and work performedthis provision covers risks relating to possible disputes with customers about the reporting of work performed,principally overtime, that must be approved by them before invoices are issued. during 2009,euro 566 thousand was utilised from this provision, while new provisions totalled euro 778 thousand.provision for litigation in progressthe risk of having to make settlements in relation to the litigation in progress with customers, suppliersand employees is assessed when preparing the financial statements. new provisions made during 2009amounted to euro 1,802 thousand. decreases during the year, euro 1,097 thousand, mainly reflectedutilisation of the provision recorded in the prior year in relation to a dispute involving gestin facilitys.p.a., as well as amounts released on conclusion of the disputes for which the related provisions weremade.provision for tax disputesthis caption was created in 2009, principally in relation to the provisions recorded by altair ifm s.p.a.and gestin facility s.p.a. totalling euro 1,245 thousand, in relation to disputes with the tax authoritiesregarding the payment of concession taxes on the consumption of electricity.178 - Consolidated finanCial statements as of 31 deCember 2009 - aCCounting poliCies and explanatory notes Consolidated finanCial statements as of 31 deCember 2009 - aCCounting poliCies and explanatory notes - 179