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Parent Company Financial Report |
EXPLANATORY NOTES
2014 Annual Report
Prysmian Group
310
Note 31 December 2014 of which related
31 December 2013
of which related
parties (Note 25)
parties (Note 25)
Net financial position - as reported above
726,381
612,667
Long-term financial receivables
3
22
26
Long-term bank fees
3
5,219
-
Net forward currency contracts
on commercial transactions
5
(15)
(15)
27
27
Net metal derivatives
5
(6)
(6)
(38)
(38)
Recalculated net financial position
731,601
612,682
These are detailed as follows:
11.
TRADE AND OTHER PAYABLES
Trade payables mostly refer to charges by suppliers of
strategic metals and only partly to those by suppliers of other
goods and services provided by external consultants in the
organisational, legal and IT spheres.
Other payables comprise:
• social security payables relating to contributions on
employee wages and salaries and amounts payable into
supplementary pension funds;
• tax payables mainly relating to tax withheld from
employees and not yet paid to the tax authorities;
• payables to employees for accrued wages and salaries not
yet paid;
• other payables, which mainly relate to amounts due to
Group companies for the transfer of recoverable withhold-
ing taxes to the Company under the group tax consolida-
tion (art. 117 et seq of the Italian Income Tax Code).
At 31 December 2014, the liabilities for trade payables and
other payables are all due within 12 months.
Trade payables include around Euro 25,138 thousand for the
supply of strategic metals, whose payment terms are longer
than normal for this type of transaction.
31 December 2014 31 December 2013
Trade payables
255,320
295,791
Total trade payables
255,320
295,791
Other payables:
Tax and social security payables
5,461
4,293
Payables to employees
4,077
23,102
Accrued expenses
264
45
Other
1,279
1,820
Total other payables
11,081
29,260
Total
266,401
325,051
(in thousands of Euro)
(in thousands of Euro)