financial report and registration document 2011 - Groupe SEB

NOTE 4 OTHER RECEIVABLES
Financial Report and Registration Document 2011
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Company fi nancial statements
Notes to the Company fi nancial statements
Other receivables correspond to (i) income tax prepayments amounting to €20.3 million, less €7.7 million in tax due for the consolidated tax group, and
(ii) €7.5 million in fi nancial instruments.
NOTE 5 PROVISIONS FOR CONTINGENCIES AND CHARGES
Changes in provisions for contingencies and charges for the year were as follows:
(in € millions) 2010 Increases
Reversals
(unused) Utilisations 2011
Provisions for claims and litigation 0
Provisions for currency risks 2.1 72.4 2.1 72.4
Provisions for other risks 17.7 4.5 13.2
TOTAL PROVISIONS FOR CONTINGENCIES 19.8 72.4 0.0 6.6 85.6
Provisions for group relief 121.7 20.5 1.0 0.3 140.9
TOTAL PROVISIONS FOR CHARGES 121.7 20.5 1.0 0.3 140.9
TOTAL 141.5 92.9 1.0 6.9 226.5
(in € millions) 2009 Increases
Reversals
(unused) Utilisations 2010
Provisions for claims and litigation 0.0 0.0
Provisions for currency risks 3.3 2.1 3.3 2.1
Provisions for other risks 0.0 17.7 0 0.0 17.7
TOTAL PROVISIONS FOR CONTINGENCIES 3.3 19.8 0 3.3 19.8
Provisions for group relief 114.7 14.2 0 7.2 121.7
TOTAL PROVISIONS FOR CHARGES 114.7 14.2 0 7.2 121.7
TOTAL 118.0 34.0 0 10.5 141.5
In line with the principles described in Note 1.5, a €72.4 million provision for
currency risks was recorded at 31 December 2011.
A €13.2 million provision for unrealised losses on stock options was recorded
to cover the outfl ow of resources arising from exercise of the options granted
under current plans.
NOTE 6 MATURITIES OF RECEIVABLES AND PAYABLES
All receivables are due within one year, apart from (i) an €8.8 million
subordinated loan granted to Groupe SEB Iberica, (ii) a €2.6 million longterm
loan granted to Groupe SEB Schweiz, (iii) €4.0 million in deferred debt
issuance costs, and (iv) the €0.5 million bond redemption premium.
Tax savings resulting from group relief for tax losses incurred by certain
companies in the tax group will be transferred back to the companies
concerned if and when they return to profi t. They were covered by a provision
for an aggregate amount of €140.9 million at 31 December 2011.
All payables are due within one year, with the exception of:
� the €300 million worth of bonds redeemable at maturity in June 2016;
� the Schuldschein loan, repayable in two instalments in August 2013
and August 2015 for €113.5 million and €47.5 million respectively;
GROUPE SEB
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