The composition of Accrued interest and other liabilities as at 31 December is as follows:
 Download XLS |
|
|
|
|
General (incl. |
|
|
|
Banking |
Insurance |
eliminations) |
Total |
|
31 December 2007 |
|
|
|
|
|
Deferred revenues |
718 |
51 |
|
769 |
|
Accrued interest expense |
33,742 |
250 |
(129) |
33,863 |
|
Accrued other expenses |
2,640 |
134 |
(37) |
2,737 |
|
Derivatives held for hedging purposes |
245 |
2 |
(1) |
246 |
|
Defined benefit liabilities |
2,223 |
911 |
(29) |
3,105 |
|
Other employee benefit liabilities |
1,132 |
213 |
1 |
1,346 |
|
Accounts payable |
1,129 |
291 |
(15) |
1,405 |
|
Due to agents, policyholders and intermediaries |
4 |
1,107 |
(1) |
1,110 |
|
VAT and other taxes payable |
145 |
87 |
20 |
252 |
|
Dividends payable |
5 |
|
46 |
51 |
|
Policyholder dividends payable |
|
1 |
|
1 |
|
Due to reinsurers |
|
161 |
|
161 |
|
Other liabilities |
19,481 |
1,241 |
(27) |
20,695 |
|
Total |
61,464 |
4,450 |
(172) |
65,742 |
|
|
|
|
|
|
|
31 December 2006 |
|
|
|
|
|
Deferred revenues |
597 |
12 |
|
609 |
|
Accrued interest expense |
24,439 |
208 |
(91) |
24,556 |
|
Accrued other expenses |
1,859 |
88 |
(9) |
1,938 |
|
Derivatives held for hedging purposes |
196 |
1 |
(2) |
195 |
|
Defined benefit liabilities |
2,333 |
848 |
(88) |
3,093 |
|
Other employee benefit liabilities |
1,037 |
209 |
112 |
1,358 |
|
Accounts payable |
869 |
280 |
|
1,149 |
|
Due to agents, policyholders and intermediaries |
2 |
1,160 |
(1) |
1,161 |
|
VAT and other taxes payable |
118 |
77 |
5 |
200 |
|
Dividends payable |
8 |
|
25 |
33 |
|
Policyholder dividends payable |
|
1 |
|
1 |
|
Due to reinsurers |
|
173 |
|
173 |
|
Other liabilities |
16,018 |
1,452 |
15 |
17,485 |
|
Total |
47,476 |
4,509 |
(34) |
51,951 |
|
|
|
|
|
|
|
31 December 2005 |
|
|
|
|
|
Deferred revenues |
531 |
36 |
(1) |
566 |
|
Accrued interest expense |
19,231 |
201 |
(131) |
19,301 |
|
Accrued other expenses |
1,168 |
86 |
(8) |
1,246 |
|
Derivatives held for hedging purposes |
1,842 |
|
|
1,842 |
|
Defined benefit liabilities |
2,390 |
832 |
(67) |
3,155 |
|
Other employee benefit liabilities |
888 |
258 |
113 |
1,259 |
|
Accounts payable |
1,326 |
197 |
6 |
1,529 |
|
Due to agents, policyholders and intermediaries |
12 |
1,107 |
(2) |
1,117 |
|
VAT and other taxes payable |
86 |
85 |
4 |
175 |
|
Dividends payable |
5 |
|
23 |
28 |
|
Due to reinsurers |
|
156 |
|
156 |
|
Other liabilities |
13,241 |
1,456 |
(60) |
14,637 |
|
Total |
40,720 |
4,414 |
(123) |
45,011 |
Derivatives held for hedging purposes contains the negative fair value of all derivatives qualifying as hedging instruments. EUR 243 million (2006: EUR 185 million; 2005: EUR 1,828 million) is related to fair-value hedges and EUR 3 million (2006: EUR 11 million; 2005: EUR 14 million) to cash-flow hedges. The hedging strategies are further explained in note 7.
Further details on Defined benefit liabilities can be found in note 9. Other employee-benefit liabilities relates to other long-term employee benefits (see note 9), social-security charges and termination benefits.
All purchases and sales of financial assets requiring delivery within the time frame established by regulation or market convention are recognised on the trade date, i.e. the date when Fortis becomes a party to the contractual provisions of the instrument.
The line Other includes EUR 1,784 million (2006: EUR 1,421 million; 2005: EUR 1,288 million) regarding the carrying value of non-derivative financial instruments designated as hedging instruments in net investment hedges and EUR 834 million (2006: EUR 368 million; 2005: EUR 337 million) is related to non-derivative financial liabilities designated as hedging instruments in fair value hedges. The remainder of the line Other liabilities mainly consists of balancing temporary amounts between trade date and settlement date.
