FY 2012 - Investor Relations - NIS

21. OTHER LONG-TERM LIABILITIES31 December 2012 31 December 2011Liabilities to Gazprom Neft 55,536,844 48,745,326Finance lease liabilities 57,626 86,186Other long-term liabilities 14,003 613,63855,608,473 49,445,15022. SHORT-TERM FINANCIAL LIABILITIES31 December 2012 31 December 2011Short-term loans 3,500,000 -Current portion of long-term loans (note 20) 533,466 2,274,652Current portion of finance lease (note 21) 36,144 33,069Current portion of other long-term liabilities (note 21) 5,289,222 1,133,612Current portion of other long-term liabilities and financial lease(note 22)(5,325,366) (1,166,681)50,283,107 48,278,469Other short-term liabilities 526 3,9179,359,358 3,445,250(1) Liabilities to Gazprom NeftAs at 31 December 2012, other long-term liabilities to Gazprom Neft amounting to RSD 55,536,844 (EUR 500,000,006)relate to borrowings from Gazprom Neft granted based on the Agreement for Sale and Purchase of shares concluded on24 December 2008. Under this agreement, Gazprom Neft shall grant loans for financing a EUR 500 million reconstructionand modernization of the technology complex programme by 31 December 2012. The stated liabilities shall be settled inquarterly installments starting from December 2012 until 15 May 2023.(2) Finance lease liabilitiesAs at 31 December 2012, long-term finance lease liabilities of RSD 21,482 (2011: RSD 53,117) are secured by thelessor’s right on ownership over the leased asset until the finance lease has been settled.Minimum finance lease payments31 December 2012 31 December 2011Less than one year 38,584 37,8941-5 years 21,974 56,300Future finance charges on finance leases (2,932) (8,008)23. TRADE AND OTHER PAYABLESTrade payables:31 December 2012 31 December 2011- domestic 3,182,614 2,702,845- foreign 2,859,806 7,060,646Trade payables – other related parties 25,995,092 18,587,440Liabilities from other operations 71,852 71,956Liabilities from specific operations 294,221 327,92333,366,219 29,621,937As at 31 December 2012, payables to other related parties amounting to RSD 25,995,092 (31 December 2011: RSD18,587,440) mainly relate to liabilities to the supplier Gazprom Neft Trading, Austria for crude oil in the amount of RSD25,464,826 (31 December 2011: RSD 18,116,245).Present value of finance lease liabilities 57,626 86,18631 December 2012 31 December 2011Less than one year 36,144 33,0691-5 years 21,482 53,117Present value of finance lease liabilities 57,626 86,186294 • FINANCIAL STATEMENTS Annual report for 2012Annual report for 2012FINANCIAL STATEMENTS • 295