2009 Annual Report - CRH

19. Trade and Other Payables
90 CRH
2009 2008
€m €m
Current
Trade payables 1,172 1,440
Irish employment-related taxes 3 3
Other employment-related taxes 76 78
Value added tax 85 92
Deferred and contingent acquisition consideration 32 44
Other payables (i) 372 495
Accruals and deferred income 682 731
Amounts payable to associates 49 36
Subtotal – current 2,471 2,919
Non-current
Other payables 74 36
Deferred and contingent acquisition consideration (stated at net present cost) due as follows:
- between one and two years 16 33
- between two and five years 35 36
- after five years 30 32
Subtotal – non-current 155 137
(i) Other payables include billings in excess of costs incurred together with advances received from customers in respect of work to be performed under construction
contracts and foreseeable losses thereon amounting to €174 million at the balance sheet date (2008: €190 million).
The carrying amounts of trade and other payables approximate their fair value largely due to the short-term maturities of these instruments.
20. Movement in Working Capital
Trade Trade
and other and other
Inventories receivables payables Total
€m €m €m €m
At 1st January 2009 2,473 3,096 (3,056) 2,513
Translation adjustment (34) (31) 14 (51)
Arising on acquisition (note 32) 11 22 (14) 19
Movement in finance-related receivables - 115 - 115
Deferred and contingent acquisition consideration:
- arising on acquisitions during the year (note 32) - - (8) (8)
- paid during the year - - 37 37
Interest accruals - 4 (10) (6)
(Decrease)/increase in working capital (442) (752) 411 (783)
At 31st December 2009 2,008 2,454 (2,626) 1,836
The equivalent disclosure for the prior year is as follows:
At 1st January 2008 2,226 3,199 (3,097) 2,328
Translation adjustment 8 26 (15) 19
Arising on acquisition (note 32) 66 126 (89) 103
Deferred and contingent acquisition consideration:
- arising on acquisitions during the year (note 32) - - (12) (12)
- paid during the year - - 34 34
Interest accruals - (4) (12) (16)
Increase/(decrease) in working capital 173 (251) 135 57
At 31st December 2008 2,473 3,096 (3,056) 2,513