19. Provisions
The detail of this caption in the consolidated balance sheet and of the changes therein in 2012 is as follows:
|
|
Pensions and similar obligations with personnel |
Liability | Other provisions | Total |
|---|---|---|---|---|
| Balance at 01/02/2012 | 38,205 | 95,361 | 13,752 | 147,318 |
| Provisions recorded during the year | 4,773 | 20,862 | 3,506 | 29,141 |
| Disposals | (4,164) | (4,642) | (233) | (9,039) |
| Transfers | (15,980) | (4,045) | 2,221 | (17,804) |
| Foreign exchange translation differences | (320) | (2,143) | (2,823) | (5,286) |
| Balance at 31/01/2013 | 22,515 | 105,393 | 16,423 | 144,331 |
Provision for pensions and similar obligations with personnel
Certain group companies have undertaken to settle specific obligations with personnel. The Group has a provision to cover the liability corresponding to the estimated vested portion of these obligations at 31 January 2013.
Provision for liability
The Group is exposed to certain contingencies because of its international presence. The amounts shown here correspond to current obligations from legal claims or constructive obligations deriving from past actions which include a probable outflow of resources that has been reliably estimated. At the date of preparation of these consolidated accounts, there were no legal proceedings whose final outcome could significantly affect the Company’s equity position.
The directors of Inditex consider that the provisions recorded in the consolidated balance sheet adequately cover risks deriving from litigation, arbitration and other contingencies and do not expect any liabilities additional to those recognized to arise therefrom.
