Accounting policies
Suppliers and other creditor’s balances are obligations to pay goods or services that have been acquired in the ordinary course of the business. They are initially recognised at the fair value and subsequently at the amortised cost, in accordance with the effective interest rate method (note 2.4.2.).
Suppliers and other creditors are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities.
|
|
2023 |
|
2022 |
|---|---|---|---|---|
Non-current |
|
|
|
|
Trade payables |
|
3 |
|
3 |
Accrued costs and deferred income |
|
1 |
|
1 |
Total |
|
4 |
|
4 |
Current |
|
|
|
|
Trade payables |
|
5,224 |
|
4,579 |
Non-trade payables |
|
521 |
|
419 |
Other taxes payables |
|
166 |
|
122 |
Contracts liabilities with customers |
|
16 |
|
15 |
Refunds liabilities to customers |
|
2 |
|
1 |
Accrued costs and deferred income |
|
776 |
|
663 |
Total |
|
6,705 |
|
5,799 |
The current accrued costs, totalling €764 million (included in the current Accrued costs and deferred Income line in the table above) include salaries and wages to be paid to the employees, in the amount of €345 million, interest payable in the amount of €63 million and supplementary costs with the distribution and promotion of goods in the amount of €17 million. The remaining €338 million relates to sundry costs (utilities, insurance, consultants, rents, among others) for 2023, which had not been invoiced by the respective entities prior to the end of the year.