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<strong>METRO</strong> gROUP : ANNUAL REPORT 2011 : BUsiNEss → noTes : noTes To THe BalanCe sHeeT The fixed interest rate for short- and medium-term financial liabilities and the repricing dates of all fixed-interest liabilities essentially correspond to the displayed remaining terms. The repricing dates for variable interest rates are less than one year. The effects that changes in interest rates concerning the variable portion of financial liabilities have on the net profit for the period and equity of MeTRo GRoUp are described in detail in no. 42 “Management of financial risks”. → p. 229 37. Other liabilities The change in payroll liabilities is essentially attributable to reduced obligations from performance-based one-time payments. Key items in other liabilities are commitments from stock tender rights totalling €315 million (previous year: €389 million), liabilities towards customers of €310 million (previous year: €297 million), liabilities from real estate totalling €86 million (previous year: €80 million) and liabilities to third-party shareholders of €78 million (previous year: €30 million). In addition, other liabilities also includes numerous other individual items. 31/12/2010 31/12/2011 Remaining term Remaining term Up to Over Up to Over € million Total 1 year 1 year Total 1 year 1 year other tax liabilities 535 535 0 633 633 0 payroll 927 925 2 802 800 2 Deferred income 438 154 284 423 149 274 other liabilities 1,315 844 471 1,396 916 480 3,215 2,458 757 3,254 2,498 756
<strong>METRO</strong> gROUP : ANNUAL REPORT 2011 : BUsiNEss → noTes : noTes To THe BalanCe sHeeT 38. Undiscounted cash flows of financial liabilities The undiscounted cash flows of financial liabilities, trade payables and derivatives carried as liabilities are as follows: € million Cash flows 2011 Cash flows 2012–2015 Cash flows after 2015 → p. 230 Book value 31/12/2010 interest Redemption interest Redemption interest Redemption Financial liabilities Bonds 4,615 263 1,253 656 2,615 64 747 liabilities to banks 1,211 42 375 95 621 5 215 promissory note loans 868 27 12 39 856 0 0 Finance leases 1,589 114 110 366 471 547 1,008 Trade payables 14,393 0 14,393 0 0 0 0 Fixed-interest derivatives carried as liabilities 17 9 0 8 0 0 0 Currency derivatives carried as liabilities 22 0 22 0 0 0 0 Commodity derivatives carried as liabilities 0 0 0 0 0 0 0 Cash flows 2012 Cash flows 2013–2016 Cash flows after 2016 € million Financial liabilities Book value 31/12/2011 interest Redemption interest Redemption interest Redemption Bonds 3,491 216 649 472 2,094 32 748 liabilities to banks 1,296 51 279 111 645 18 372 promissory note loans 868 20 562 16 306 0 0 Finance leases 1,786 136 116 440 470 705 1,200 Trade payables 14,267 0 14,267 0 0 0 0 Fixed-interest derivatives carried as liabilities 8 0 0 8 0 0 0 Currency derivatives carried as liabilities 18 0 18 0 0 0 0 Commodity derivatives carried as liabilities 3 0 3 0 0 0 0
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24/7 online - SHoPPinG! - inTeGRATe
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METRO gROUP in figures 1 € millio
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s e p a r a t e FOLD FOLD PUSH OUT
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s e p a r a t e s e p a r a t e s e
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hTTP://www.REAL-DRiVE.DE s e p a r
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hTTP://www.MEDiAMARKT.DE s e p a r
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METRO gROup : ANNuAL REpORT 2011
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METRO gROUP : ANNUAL REPORT 2011
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sTRATEgy 1 METRO gROUP : ANNUAL REP
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METRO gROUP : ANNUAL REPORT 2011 :
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we recoGnISe And AdAPT To LocAL reQ
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wHAT SecUrInG GrowTH MeAnS For US:
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SUSTAInABLe TrAde. SUSTAInABLe Grow
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METRO GROUP : ANNUAL REPORT 2011 :
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iNVEsTMENT 2 METRO gROUP : ANNUAL R
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BUsiNEss 3 METRO gROUP : ANNUAL REP
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ASIA E F G H SALES EASTERN EUROPE (
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