APC 2004 Annual Report Download - page 93

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91
(d) Environmental risks
Following an in-depth review of pollution risks at all
Group production sites in 2003 and 2004, environ-
mental liabilities in an amount of 36 million were
reclassified under Provisions for Contingencies.
These liabilities were previously recorded under Other
Payables and Accrued Liabilities. The reclassification
reflects the long-term nature of these liabilities, which
concern the funding of reclamation costs when the
sites are sold.
(e) Other risks
These provisions cover a variety of risks, including
disputes with foreign parties following the restructur-
ing of Spie Batignolles.
Consolidated financial statements
Note 17 - Long and Short-Term Debt
Long-term debt breaks down as follows:
(in millions of euros)
Dec. 31, 2004 Dec. 31, 2003
Convertible and non-convertible bonds 1,200.0 2,151.0
Perpetual bonds 73.3 113.6
Bank and other borrowings 68.2 159.1
Obligations under capital leases
(Note 6.2)
19.4 10.4
Employee profit-sharing 7.0 9.9
Less current portion (1) (73.8) (1,008.7)
Long-term debt 1,294.1 1,435.3
Short-term debt consists of the following:
(in millions of euros)
Dec. 31, 2004 Dec. 31, 2003
Bank overdrafts 28.0 93.3
Commercial paper 60.4 60.2
Other short-term borrowings 80.8 53.8
Accrued interest 11.3 37.0
Current portion of long-term debt (1) 73.8 1,008.7
Short-term debt 254.3 1,253.0
Total long and short-term debt 1,548.4 2,688.3
(1) The
951 million 1999 bond issue was redeemed in April 2004.
17.1 - Breakdown by maturity
(in millions of euros)
Dec. 31, 2004 Dec. 31, 2003
2004 - 1,253.0
2005 254.3 118.0
2006 46.6 44.8
2007 459.0 456.5
2008 757.4 754.9
2009 3.5 1.8
2010 1.4 59.3
2011 and beyond 26.2 -
Total 1,548.4 2,688.3