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Jotun Annual Report 2016

65 JOTUN A/S 16 OTHER CURRENT LIABILITIES (NOK THOUSAND) 31.12.2016 31.12.2015 OTHER CURRENT LIABILITIES Liabilities to subsidiaries, joint ventures and associated companies 709 716 618 744 Public charges and holiday pay 134 524 129 221 Other accrued expenses 90 519 211 292 Total 934 758 959 256 Other accrued expenses are related to bonuses to employees, royalty, interests and other accrued expenses. 17 PROVISIONS PROVISIONS 2016 (NOK THOUSAND) CLAIMS RESTRUCTURING ENVIRONMENTAL TOTAL Balance as of 1 January 2016 7 939 147 34 979 43 065 Provisions arising during the year 171 889 – 12 500 184 389 Utilised –20 000 –147 –10 255 –30 402 Unused amounts reversed – – –5 373 –5 373 Total provisions as of 31 December 159 828 – 31 851 191 679 Current 150 750 – 7 251 158 001 Non–current 9 078 – 24 600 33 678 Total 159 828 – 31 851 191 679 PROVISIONS 2015 (NOK THOUSAND) CLAIMS RESTRUCTURING ENVIRONMENTAL TOTAL Balance as of 1 January 9 585 6 923 40 805 57 313 Provisions arising during the year 2 009 – – 2 009 Utilised –2 019 –6 776 –5 826 –14 621 Unused amounts reversed –1 636 – – –1 636 Total provisions as of 31 December 7 939 147 34 979 43 065 Current – 147 10 379 10 526 Non–current 7 939 – 24 600 32 539 Total 7 939 147 34 979 43 065 CLAIMS A provision is recognised for expected warranty claims on products sold, based on past experience of the level of repairs and returns. It is expected that most of these costs will be incurred in the next five years. Assumptions used to calculate the provision for claims were based on current information available about claim cases and the expected claims based on the warranty period for specific products sold. RESTRUCTURING PROVISIONS Remaining provisions for restructuring are related to demolishment of the old factory at Gimle in Sandefjord, Norway. The project was completed in 2016. ENVIRONMENTAL PROVISIONS Jotun A/S has recorded provisions for environmental liabilities at some currently owned sites. Pre-studies and analysis of relevant areas have been undertaken to reliably estimate the provisions that have been recognised. The clean-up activities will continue until 2018. These provisions are estimates of amounts payable or expected to become payable.


Jotun Annual Report 2016
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