92
2013
Annual Report
28
The fair value of the Plan at the award date was zero, considering the initial price paid and the amount paid to
the beneficiaries in respect of voluntary termination of their business or labour relationship. At 31 December
2013 the fair value of the Plan has not changed significantly and therefore the income statement does not
include any amount in this respect.
The value of the Company at year end has been calculated based on the value of the transaction carried out as
a result of the entry of new shareholders in December 2012, and of the performance of the key indicators in
2013.
NOTE 15
.- Debts and Payables
The fair values of debts and payables do not differ significantly from their carrying amount. The fair value is
calculated based on cash flows discounted at a rate pegged to the effective interest rate for borrowings.
2013
2012
Debts and payables, non-current
223,803 284,571
Non-current payables
119,387
108,776
Loans and borrowings
115,587
108,706
Derivatives
893
-
Other financial liabilities
2,907
70
Group companies and associates, non-current
104,416
175,795
Debts and payables, current
182,701 204,853
Current payables
98,550
112,100
Loans and borrowings
84,295
91,125
Other financial liabilities (suppliers of fixed assets)
14,255
20,975
Group companies and associates, current
22,682
35,005
Trade and other payables
61,469
57,748
Suppliers
46,734
49,025
Personnel
6,820
1,863
Public entities, other
7,915
6,860
Total
406,504 489,424
