95
REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
16.- OTHER NON-CURRENT LIABILITIES
The breakdown of the “Other non-current liabilities” item in the accompanying consolidated balance sheets, at 31 December 2015 and 2014, is as
follows:
Thousands of euros
2015
2014
At fair value:
Put option for Donnafugata Resort, S.r.l.
-
10,670
_
At amortised cost:
Purchase option on Sotocaribe, S.L. (see note 2.5.4)
58,250
58,250
Linearisation of revenue
14,946
15,895
Issue of promissory notes
-
1,810
Acquisition of Hoteles Royal, S.A.
19,238
-
Loans from shareholders
550
533
Other liabilities
6,196
1,326
99,180
88,484
On 26 October 2012 the arbitration tribunal ratified the valuation of Donnafugata Resort, S.r.l. made by an independent valuer in response to the
communication made by the non-controlling interests of said company in 2010 of their intention to exercise the put option (at 31 December 2012
they represented 8.81% of the share capital). As a result of this decision, the Parent recognised the put option of the non-controlling interests
in accordance with said valuation, which amounted to 9,900 thousand euros. In December 2014, an arbitration ruling set the costs and financial
expenses payable by the Group at 770 thousand euros. The change in the fair value of this option was recognised under the heading “Change in
fair value of financial instruments” in the accompanying comprehensive consolidated profit and loss statement for 2014. On 22 October 2015, a
reverse factoring solution was issued to settle the liability that eventually amounted to 10,335 thousand euros, 165 thousand euros was reverted to
the heading “Change in fair value of financial instruments” in the comprehensive consolidated profit and loss statement for 2015 and the remaining
amount covered the reverse factoring expenses, and all liabilities had been reclassified under “Other current liabilities” (see note 21).
With the acquisition of Hoteles Royal, S.A., the amount of 77.1 million euros is paid, while 17.7 million euros (19.2 million euros with the updated
exchange date) remains pending, payable in two years (see Note 2.5.4).
17.- PROVISIONS FOR RISKS AND CHARGES
The breakdown of “Provisions for risks and charges” at 31 December 2015 and 2014, together with the main movements recognised in those years
were as follows:
Thousands of euros
Balance at
31/12/2014 Additions
Applications/
Reductions
Transfers
Balance at
31/12/2015
Provisions for contingenciesand extraordinary costs:
Onerous contracts
26,986
12,993
(19,258)
(4,174)
16,547
Provisions for pensions and similar obligations
13,797
1,792
(1,387)
-
14,202
Other claims
16,147
4,959
(4,486)
1,331
17,951
56,930
19,744
(25,131)
(2,843)
48,700
Provisions for contingencies and current expenses:
Onerous contracts
10,114
-
(10,114)
4,793
4,793
Restructuring provisions
4,721
-
(4,184)
-
537
14,835
-
(14,298)
4,793
5,330
Total
71,765
19,744
(39,429)
1,950
54,030
