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Allianz Annual Report 2012

Changes in the provisions for restructuring plans: Provisions for restructuring plans D 143 € mn ­Allianz Beratungs- und Vertriebs- AG ­Allianz Germany Group ­­­Allianz Global Investors ­­­Allianz Managed Operations and Services Euler Hermes Group ­­Fireman’s Fund Insurance Company Other Total As of 1 January 2010 – – – – – – 346 346 New provisions – – – – 67 – 106 173 Additions to existing provisions – – – – – – 102 102 Release of provisions recognized in prior years – – – – – – (17) (17) Utilization of provisions via payments – – – – – – (139) (139) Utilization of provisions via transfers – – – – – – (58) (58) Foreign currency translation adjustments – – – – – – 2 2 As of 31 December 2010 – – – – 67 – 342 409 New provisions – – – – – 71 40 111 Additions to existing provisions – – – – 3 – 16 19 Release of provisions recognized in prior years – – – – (5) – (5) (10) Utilization of provisions via payments – – – – (11) (13) (125) (149) Utilization of provisions via transfers – – – – – – (42) (42) Foreign currency translation adjustments – – – – – 3 – 3 Changes in the consolidated subsidiaries of the ­Allianz Group – – – – – – (63) (63) Other – – – – – 2 – 2 As of 31 December 2011 – – – – 54 63 163 280 New provisions 44 84 56 40 – – 18 242 Additions to existing provisions – – – – 3 1 25 29 Release of provisions recognized in prior years – – – – (2) (3) (50) (55) Utilization of provisions via payments – – (13) – (17) (19) (51) (100) Utilization of provisions via transfers (30) (12) (1) – (1) – (46) (90) Foreign currency translation adjustments – – (1) – – (1) – (2) As of 31 December 2012 14 72 41 40 37 41 59 304 The development of the restructuring provisions reflects the implementation status of the restructuring initiatives. Based on the specific IFRS guidance, restructuring provi- sions are recognized prior to when they qualify to be recog- nized under the guidance for other types of provisions. In order to reflect the timely implementation of the various restructuring initiatives, restructuring provisions, as far as they are already “locked in”, have been transferred to the provision type, which would have been used if a restructur- ing initiative were not in place. This applies for each single contract. For personnel costs, at the time an employee has contractually agreed to leave the ­­­­Allianz Group by signing either an early retirement, a partial retirement (Altersteil- zeit, which is a specific type of an early retirement program in Germany), or a termination arrangement, the respective part of the restructuring provision has been transferred to employee related provisions. In addition, provisions for va- cant office spaces that result from restructuring initiatives have been transferred to “other” provisions after the offices have been completely vacated. Annual Report 2012    Allianz Group350

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