Payables are the Group’s present obligation resulting from future events, whose fulfilment will, according to expectations, cause the outflow from the entity of the means entailing economic benefits.
Other liabilities include predominantly public law settlements and payroll liabilities which are carried at the amount due.
Structure of other liabilities
| 31/12/2018 | 31/12/2017 | |
|---|---|---|
| Financial liabilities | ||
| FX forwards | 0.2 | - |
| Other | - | 0.3 |
| Other liabilities | ||
| Liabilities arising out of collateral (deposits, bid bonds, guarantees) | 36.9 | 42.1 |
| Public law settlements | 86.9 | 78.3 |
| Settlements with employees | 95.2 | 87.3 |
| Received grants | 2.6 | 6.0 |
| Other settlements | 7.0 | 3.1 |
| VAT settlements | 6.5 | 8.3 |
| Short-term tax liabilities | 0.3 | 1.6 |
| Total | 235.6 | 227.0 |
| Long-term liabilities | 1.8 | 0.3 |
| Short-term liabilities | 233.8 | 226.7 |
| Total | 235.6 | 227.0 |