102
103
Annual Financial Statements
(Amounts in thousands
€
)
Environmental
Restoration
Tax liabilities
Other
Total
1/1/2014
583
2,549
15,490
18,622
Sale Of Subsidiary
-
(120)
-
(120)
Additional Provisions For The Period
-
6
1,262
1,268
Unrealised Reversed Provisions
-
-
(1,204)
(1,204)
Exchange Rate Differences
-
1
-
1
Realised Provisions For The Period
(174)
-
(2,884)
(3,059)
31/12/2014
408
2,437
12,667
15,512
Long -Term
408
2,437
12,667
15,512
Additional Provisions For The Period
1,039
(9)
1,551
2,582
Exchange Rate Differences
-
1
-
1
Realised Provisions For The Period
(179)
(1,114)
(1,310)
(2,603)
31/12/2015
1,269
1,315
12,909
15,492
Long -Term
1,269
1,315
12,208
14,791
Short - Term
-
-
701
701
(Amounts in thousands
€
)
Tax liabilities
Other
Total
1/1/2014
1,102
266
1,368
31/12/2014
1,102
266
1,368
Long -Term
1,102
266
1,368
Additional Provisions For The Period
-
683
683
Realised Provisions For The Period
(1,100)
-
(1,100)
31/12/2015
2
949
951
Long -Term
2
266
268
Short - Term
-
683
683
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
31/12/2015
31/12/2014
31/12/2015
31/12/2014
Tax expense for the period
22,326
11,584
-
-
Tax audit differences
(7)
(7)
-
-
Tax liabilities
14,472
15,177
349
3,107
Total
36,791
26,755
349
3,107
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
31/12/2015
31/12/2014
31/12/2015
31/12/2014
Retirement benefits
714
115
-
-
Other employee benefits
56,330
63,007
-
-
Cost of materials & inventories
805,659
509,412
13,501
14,386
Third party expenses
96,738
117,795
-
-
Third party benefits
73,141
188,156
-
-
Assets repair and maintenance cost
3,476
3,077
-
-
Operating leases rent
5,013
3,818
-
-
Taxes & Duties
22,252
6,885
-
-
Advertisement
345
375
-
-
Other expenses
34,319
48,085
-
-
Depreciation - Tangible Assets
54,654
47,954
-
-
Depreciation - Intangible Assets
4,764
4,992
-
-
Grants amortization incorporated to cost
(1,051)
(1,886)
-
-
Total
1,156,353
991,785
13,501
14,386
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
31/12/2015
31/12/2014
31/12/2015
31/12/2014
Distribution expenses
Other emploee benefits
925
871
-
-
Inventory cost
1
1
-
-
Third party expenses
863
636
-
-
Third party benefits
260
87
-
-
Assets repair and maintenance cost
7
7
-
-
Operating leases rent
64
56
-
-
Taxes & Duties
338
184
-
-
Advertisement
117
56
-
-
Other expenses
997
1,090
-
-
Depreciation - Tangible Assets
11
25
-
-
Depreciation - Intangible Assets
12
12
-
-
Total
3,596
3,024
-
-
4.15 Provisions
Provisions referring to Group and Company are recognized if the following are
met: (a) legal or implied liabilities exist as a consequence of past events, (b)
there is a possibility of settlement that will require the outflow if economic benefits
and (c) the amount of the liability can be measured reliably. More specifically,
the Group recognizes provisions for environmental restorations as a result of
exploitation of mineral resources processed mainly for the production of Alumina
and Aluminum. All provisions are reviewed at each balance-sheet date and are
adjusted accordingly so that they reflect the present value of expenses that will
be required for the restoration of the environment. Contingent receivables are not
recognized in the financial statements but are disclosed if there is a possibility of
an inflow of economic benefits.
Environmental Restoration.
This provision rep-
resents the present value of the estimated costs to
reclaim quarry sites and other similar post-closure
obligations.
Tax Liabilities.
This provision relates to future obli-
gations that may result from tax audits.
Other provisions.
Comprise other provisions relat-
ing to other risks none of which are individually ma-
terial to the Group and to contingent liabilities arising
from current commitments.
4.16 Current tax liabilities
4.17 Cost of goods sold
4.18 Administrative & Distribution Expenses
