Defined contribution plans Defined contribution plans mainly exist in non-German subsidiaries. Additionally, the Com- pany pays contributions to domestic and foreign governmental and private pension insur- ance organizations in accordance with legal regulations. The contributions are recognized as expense based on their function in the respective year and amounted to € 23.2 million and € 21.0 million in 2015 and 2014, respectively. No further obligations exist besides the contri- butions paid. 25. Other Provisions Employees Sales and marketing Warranty Other Total Balance at Jan. 1, 2015 59,217 18,959 2,954 18,645 99,775 Additions 62,504 16,861 647 10,617 90,629 Utilization (49,210) (16,043) (21) (9,378) (74,652) Reversal (1,174) (3,090) (139) (1,198) (5,601) Transfers 280 0 0 (180) 100 Translation adjustments 1,832 433 7 519 2,791 Balance at Dec. 31, 2015 73,449 17,120 3,448 19,025 113,042 Thereof non-current at Dec. 31, 2014 12,336 160 0 3,760 16,256 at Dec. 31, 2015 18,426 169 0 3,556 22,151 The employee-related provisions include provisions for employee incentive plans and bonuses. The non-current portion mainly relates to partial retirement (Altersteilzeit) and anniversary benefits and a portion of the severance compensation from the restructuring measures (see note 8). Provisions for sales and marketing pertain primarily to sales bonuses and commissions. Provisions for warranty cover commitments in connection with goods delivered and serv- ices rendered. ALTANA expects that the current portion of the provisions will be utilized during 2016. The item “other” includes litigation, legal cost and professional fees, provision for taxes other than income taxes and contributions. 122 Notes to Consolidated Financial Statements
E_ALT_GB15_160317_online
To see the actual publication please follow the link above