Hornbach-Baumarkt-AG Group

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Notes on the Consolidated Balance Sheet 137
(24) Other non-current liabilities
Other non-current liabilities mainly involve non-current provisions. These include personnel provisions, provisions
for contractually assumed structural maintenance obligations, and a provision required by law for the
storage of business documents. The rental agreements underlying the maintenance obligations have remaining
terms of between 1 and 23 years. The provision for the storage of business documents chiefly relates to
statutory storage periods of between 7 and 11 years.
Non-current personnel provisions have been recognized mainly for part-time early retirement commitments
and for the statutory reserve required in Austria to cover potential claims on the part of employees in the
event of their leaving the company.
The provisions for part-time early retirement mainly involve the part-time early retirement agreements concluded
by HORNBACH-Baumarkt-AG in the 2005/2006 and 2006/2007 financial years. The work undertaken
by part-time early retirees is performed within the framework of the so-called block model. Provisions
amounting to € 1,810k (2011/2012: € 2,785k) have been recognized to cover the performance backlog up to
the balance sheet date and for top-up payments. This provision is expected to be reversed upon the final
employee thereby entitled reaching regular retirement age in the 2016/2017 financial year. Claims from an
existing reinsurance policy have been netted with the existing obligations. The provisions have been calculated
by an independent expert on the basis of the 2005 G mortality tables published by Heubeck-
Richttafeln-GmbH and using a discount rate of 1.64% p.a. (2011/2012: 2.1% p.a.). Moreover, provisions of
€ 12k (2011/2012: € 24k) were recognized to cover part-time early retirement obligations in Austria.
The development in provisions is presented in Note 27.
This item also includes an accrual stated for the amounts paid by HORNBACH Immobilien AG as settlement
for the disadvantages sustained by HORNBACH-Baumarkt-AG in connection with the termination of existing
rental agreements and the conclusion of new rental agreements with increased rent and the assumption of
maintenance expenses. The accrual item established for this purpose is being written back to earnings over
the remaining term of the original rental agreements (18 years).
(25) Trade payables and other liabilities
2.28.2013 2.29.2012
€ 000s € 000s
Trade payables and advance payments received for orders 198,253 188,752
Liabilities to affiliated companies 715 769
of which: to shareholders 289 217
Other liabilities 49,796 54,913
of which: other taxation 15,116 14,833
of which: social security contributions 2,650 2,688
248,764 244,434
As in the previous year, all trade payables and other liabilities have remaining terms of less than one year.
Trade payables are secured by reservations of title to the customary extent.