- 14. Cash and cash equivalents
- 15. Trade accounts receivable
- 16. Inventories
- 17. Other current and non-current assets
- 18. Property, plant and equipment
- 19. Goodwill and other intangible assets
- 20. Accrued expenses
- 21. Other liabilities
- 22. Debt and capital lease obligations
- 23. Senior Notes
- 24. Mandatory Exchangeable Bonds
- 25. Trust preferred securities
- 26. Pensions and similar obligations
- 27. Noncontrolling interest
- 28. Fresenius SE & Co. KGaA shareholders’ equity
- 29. Other comprehensive income (loss)
20. Accrued expenses
As of December 31, accrued expenses consisted of the following:
| 2012 | 2011 | |||
|---|---|---|---|---|
| € in millions | thereof short-term |
thereof short-term |
||
| Personnel expenses | 665 | 567 | 568 | 497 |
| Invoices outstanding | 279 | 279 | 215 | 215 |
| Self-insurance programs | 142 | 142 | 126 | 126 |
| Bonuses and discounts | 122 | 122 | 108 | 108 |
| Special charge for legal matters | 87 | 87 | 89 | 89 |
| Warranties and complaints | 59 | 58 | 40 | 39 |
| Legal matters, advisory and audit fees | 56 | 56 | 70 | 70 |
| Commissions | 29 | 29 | 27 | 27 |
| Other accrued expenses | 544 | 508 | 453 | 400 |
| Other accrued expenses | 1,983 | 1,848 | 1,696 | 1,571 |
The following table shows the development of accrued expenses in the fiscal year:
enlarge| € in millions | As of Jan. 1, 2012 | Foreign currency translation | Changes in entities consolidated | Additions | Reclassifications | Utilized | Reversed | As of Dec. 31, 2012 |
|---|---|---|---|---|---|---|---|---|
| Personnel expenses | 568 | -3 | 22 | 476 | 19 | -376 | -41 | 665 |
| Invoices outstanding | 215 | - | 17 | 207 | -1 | -130 | -29 | 279 |
| Self-insurance programs | 126 | -4 | 0 | 22 | 0 | -2 | - | 142 |
| Bonuses and discounts | 108 | -1 | 4 | 184 | - | -166 | -7 | 122 |
| Special charge for legal matters | 89 | -2 | 0 | 0 | 0 | 0 | 0 | 87 |
| Warranties and complaints | 40 | -1 | 1 | 35 | 1 | -13 | -4 | 59 |
| Legal matters, advisory and audit fees | 70 | -1 | 2 | 28 | -1 | -21 | -21 | 56 |
| Commissions | 27 | - | - | 32 | - | -27 | -3 | 29 |
| Other accrued expenses | 453 | -4 | 117 | 512 | -32 | -411 | -91 | 544 |
| Total | 1,696 | -16 | 163 | 1,496 | -14 | -1,146 | -196 | 1,983 |
Accruals for personnel expenses mainly refer to bonus, severance payments, contribution of partial retirement and holiday entitlements.
In 2001, Fresenius Medical Care recorded a US$258 million special charge to address legal matters relating to transactions pursuant to the Agreement and Plan of Reorganization dated as of February 4, 1996 by and between W.R. Grace & Co. and Fresenius AG, estimated liabilities and legal expenses arising in connection with the W.R. Grace & Co. Chapter 11 proceedings (Grace Chapter 11 Proceedings) and the cost of resolving pending litigation and other disputes with certain commercial insurers. During the second quarter of 2003, the court supervising the Grace Chapter 11 Proceedings approved a definitive settlement agreement entered into among Fresenius Medical Care, the committee representing the asbestos creditors and W.R. Grace & Co. Under the settlement agreement, Fresenius Medical Care will pay US$115 million (€87 million), without interest, upon plan confirmation. In January and February 2011, the U.S. Bankruptcy Court entered orders confirming the plan of reorganization and the confirmation orders were affirmed by the U.S. District Court on January 31, 2012. Multiple parties have appealed to the Third Circuit Court of Appeals and the plan of reorganization will not be implemented until the appeals are finally resolved (see note 30, Commitments and contingent liabilities). With the exception of the proposed US$115 million payment under the Settlement Agreement in the Grace Chapter 11 Proceedings, all other matters included in the special charge have been resolved.
21. Other liabilities