Provisions
The movements can be specified as follows:
Deferred tax Pension Other Other Total
liabilities liabilities personnel provisions
schemes
Position on January i, 1999 272.7 46.6 289.1 124.7 733.1
Changes in the consolidation 20.0 -0.3 11.5 22.8 54.0
Revaluation/Changes in
exchange rates 1.3 -0.6 - - 0.7
Additions/releases 3.9 5.9 7.0 12.7 29.5
Payments - -2.8 -46.4 -7.0 -56.2
Other movements -3.2 -0.9 8.0 5.1 9.0
Position on December 311999 294.7 47.9 269.2 158.3 770.1
The provision for pension liabilities concerns pensions and
life annuities which have not been funded with third parties.
The average rate of interest used in calculating the present
value of the provision for pension liabilities, taking account
of applicable rates in the relevant countries, is 4% (1998: 4%).
An amount of EUR 21 million out of the provision for pension
liabilities has to be externalised before January i, 2001.
The provision for other personnel schemes concerns several
early retirement and reorganization schemes. Additions due
to planned restructuring programmes are charged to the
statement of income, with the exception of restructuring
programmes related to interests acquired recently, these form
part of the goodwill upon acquisition.
Other provisions mainly comprise provisions formed for
consolidated participations and for sureties given. In addition,
provisions are formed for litigation and for costs relating to the
introduction of the euro.
Some EUR 702 million of the provisions (1998: EUR 680 million)
has a term in excess of one year.
H E 1 N E K
F I N A N C
S T A T E M
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