193
13.
TRADE AND OTHER PAYABLES
These are detailed as follows:
Trade payables include around Euro 183 million (Euro 204
million at 31 December 2012) for the supply of strategic metals
(copper, aluminium and lead), whose payment terms, in some
cases, are longer than normal for this type of transaction.
Advances from customers report the liability for construction
contracts, amounting to Euro 155 million at 31 December 2013
compared with Euro 129 million at 31 December 2012. This
liability represents the gross amount by which work invoiced
exceeds costs incurred plus accumulated profits (or losses)
recognised using the percentage of completion method.
Payables to employees at 31 December 2013 include Euro 36
million in respect of the liability for the long-term incentive
plan 2011-2013, which will be paid in the first half of 2014.
(in millions of Euro)
31 December 2013
Non-current
Current
Total
Trade payables
-
1,441
1,441
Total trade payables
-
1,441
1,441
Other payables:
Tax and social security payables
12
101
113
Advances from customers
-
241
241
Payables to employees
-
103
103
Accrued expenses
3
137
140
Other
9
146
155
Total other payables
24
728
752
Total
24
2,169
2,193
(in millions of Euro)
31 December 2012
Non-current
Current
Total
Trade payables
-
1,450
1,450
Total trade payables
-
1,450
1,450
Other payables:
Tax and social security payables
14
96
110
Advances from customers
-
219
219
Payables to employees
-
68
68
Accrued expenses
3
137
140
Other
10
134
144
Total other payables
27
654
681
Total
27
2,104
2,131
