| 25. Trade payables, other liabilities and provisions | |||
|---|---|---|---|
| Note | December 31st 2017 | December 31st 2016 | |
| Non-current financial liabilities: | 26.5 | 23.3 | |
| Investment commitments | 7.6 | 3 | |
| Liabilities towards the Polish National Foundation | 17.2 | 19 | |
| Other | 1.7 | 1.3 | |
| Current financial liabilities: | 2397.2 | 1941.7 | |
| Trade payables | 2201.7 | 1718.2 | |
| Investment commitments | 126.6 | 147.7 | |
| Liabilities to insurers | 4.2 | 4.6 | |
| Settlements under joint operations (Norwegian fields) (1) | 46.1 | 57.8 | |
| Liabilities towards the Polish National Foundation | 2.5 | 5 | |
| Other | 16.1 | 8.4 | |
| Financial liabilities | 2423.7 | 1965 | |
| Non-current non-financial liabilities: | 1045.9 | 1177.7 | |
| Provisions | 25.1 | 1034 | 1164.4 |
| Grants | 9.4 | 10.1 | |
| Other | 2.5 | 3.2 | |
| Current non-financial liabilities: | 1681.5 | 1395.6 | |
| Provisions | 25.1 | 40.3 | 92.7 |
| Value-added tax payable | 547.4 | 443.2 | |
| Excise duty and fuel charge payable | 870.8 | 698.1 | |
| Other liabilities to the state budget other than corporate income tax | 103.1 | 73.9 | |
| Grants | 26.6 | 24.3 | |
| Settlements under joint operations (Norwegian fields) (2) | 5.4 | 5.5 | |
| Prepaid deliveries | 6.8 | 5.2 | |
| Liabilities under the NAVIGATOR loyalty programme | 21.5 | 15.8 | |
| Provision for deficit in CO2 emission allowances | 14.4 | 9.8 | |
| Other | 45.2 | 27.1 | |
| Non-financial liabilities | 2727.4 | 2573.3 | |
| Total | 5151.1 | 4538.3 | |
| including: | |||
| non-current | 1072.4 | 1201 | |
| current: | 4078.7 | 3337.3 | |
| - trade receivables | 2201.7 | 1718.2 | |
| - other | 1877 | 1619.1 |
| 25.1 Provisions | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Provisions for decommissioning and reclamation costs | Other provisions | Total | |||||||||
| Provision for oil and gas extraction | Provisions for retired refining and other units | Total | |||||||||
| Note | Poland | Norway | Lithuania | ||||||||
| January 1st 2017 | 186.5 | 958.6 | 14 | 15.2 | 1174.3 | 82.8 | 1257.1 | ||||
| Recognised | - | - | - | 0.2 | 0.2 | 4.7 | 4.9 | ||||
| Remeasurement of decommissioning costs | 3.5 | -48.8 | 1 | -0.9 | - | -46.2 | - | -46.2 | |||
| Remeasurement of estimated provision for contingent payments | - | - | - | - | - | 0.1 | 0.1 | ||||
| Change in provisions attributable to approaching due date of liability (discount unwinding effect) | 9.6 | 6.5 | 35.3 | 0.8 | - | 42.6 | 0.5 | 43.1 | |||
| Interest on Oil and Gas Facility Decommissioning Fund | 0.4 | - | - | - | 0.4 | - | 0.4 | ||||
| Exchange differences on translating foreign operations | - | -122.4 | -0.8 | - | -123.2 | -3 | -126.2 | ||||
| Used | - | -7.9 | - | - | -7.9 | -32.5 | -2 | -40.4 | |||
| Reversed | - | - | - | -2.9 | -2.9 | -15.6 | -18.5 | ||||
| December 31st 2017 | 196.9 | 814.8 | 13.1 | 12.5 | 1037.3 | 37 | 1074.3 | ||||
| including: | |||||||||||
| non-current | 196.9 | 810.3 | 13.1 | 12.4 | 1032.7 | 1.3 | 1034 | ||||
| current | - | 4.5 | - | 0.1 | 4.6 | 35.7 | 40.3 | ||||
| Provisions for decommissioning and reclamation costs | Other provisions | Total | |||||||||
| Provision for oil and gas extraction | Provisions for retired refining and other units | Total | |||||||||
| Note | Poland | Norway | Lithuania | ||||||||
| January 1st 2016 | 191.9 | 986.4 | 14.1 | 25.8 | 1218.2 | 194.2 | 1412.4 | ||||
| Recognised | - | - | - | - | - | 29.3 | 29.3 | ||||
| Remeasurement of decommissioning costs | -11.3 | -119.9 | -1 | -1.5 | - | -132.7 | - | -132.7 | |||
| Remeasurement of estimated provision for contingent payments | - | - | - | - | - | -27.5 | -27.5 | ||||
| Change in provisions attributable to approaching due date of liability (discount unwinding effect) | 9.6 | 5.6 | 40.4 | 0.8 | 0.1 | 46.9 | 2.2 | 49.1 | |||
| Interest on Oil and Gas Facility Decommissioning Fund | 0.3 | - | - | - | 0.3 | - | 0.3 | ||||
| Exchange differences on translating foreign operations | - | 93.6 | 0.6 | - | 94.2 | 11.5 | 105.7 | ||||
| Used | - | -41.9 | - | -0.2 | -42.1 | -105.6 | -2 | -147.7 | |||
| Reversed | - | - | - | -10.5 | -10.5 | -21.3 | -31.8 | ||||
| December 31st 2016 | 186.5 | 958.6 | 14 | 15.2 | 1174.3 | 82.8 | 1257.1 | ||||
| including: | |||||||||||
| non-current | 186.5 | 944.3 | 14 | 13.8 | 1158.6 | 5.8 | 1164.4 | ||||
| current | - | 14.3 | - | 1.4 | 15.7 | 77 | 92.7 | ||||
Provision for oil and gas extraction facilities in Poland – a provision for future costs of decommissioning of the oil and gas extraction facilities in the B-3 and B-8 licence areas, and the Oil and Gas Extraction Facility Decommissioning Fund, set up to cover future costs of decommissioning of oil and gas extraction facilities in accordance with the Geological and Mining Law of February 4th 1994 and the Minister of Economy’s Regulation of June 24th 2002.
Provision for oil and gas extraction facilities in Norway − a provision for future costs of decommissioning of the oil extraction facilities in the YME field, and the oil and gas extraction facilities in the Heimdal and Sleipner fields.
Provision for oil and gas extraction facilities in Lithuania − a provision for future costs of decommissioning of the Lithuanian oil extraction facilities.
Provisions for retired refining units and other installations − a provision for site restoration and the cost of disassembly and decommissioning of the retired units at LOTOS Terminale S.A., a provision for estimated cost of disassembly of the subsea pipeline operated by a subsidiary Energobaltic Sp. z o.o. (a company of the LOTOS Petrobaltic Group), as well as for site restoration and clean-up.
(1) The amount includes mainly remeasurement of provisions for future costs of decommissioning of crude oil and gas extraction facilities related to the Heimdal and Sleipner assets.
(2) Including PLN 31.4m (NOK 69.3m) related to a provision for contingent payments under the Sleipner assets acquisition agreement.
Provisions for decommissioning and reclamation costs:
Provision for oil and gas extraction facilities in Poland − a provision for future costs of decommissioning of the oil and gas extraction facilities in the B-3 and B-8 licence areas, and the Oil and Gas Extraction Facility Decommissioning Fund, set up to cover future costs of decommissioning of oil and gas extraction facilities in accordance with the Geological and Mining Law of February 4th 1994 and the Minister of Economy’s Regulation of June 24th 2002.
Provision for oil and gas extraction facilities in Norway − a provision for future costs of decommissioning of the oil extraction facilities in the YME field (including provision for future cost of MOPU removal), and the oil and gas extraction facilities in the Heimdal and Sleipner fields.
Provision for oil and gas extraction facilities in Lithuania − a provision for future costs of decommissioning of the Lithuanian oil extraction facilities.
Provisions for retired refining units and other installations − a provision for site restoration and the cost of disassembly and decommissioning of the retired units at LOTOS Terminale S.A., a provision for estimated cost of disassembly of the subsea pipeline operated by a subsidiary Energobaltic Sp. z o.o. (a company of the LOTOS Petrobaltic Group), as well as for site restoration and clean-up.
(1) The amount includes mainly remeasurement of provisions for future costs of decommissioning of crude oil and gas extraction facilities related to the Heimdal and Sleipner assets.
(2) Including PLN 103m (NOK 218m) related to a provision for contingent payments under the Sleipner assets acquisition agreement.
| 25.2 Grants | |||
|---|---|---|---|
| Note | 2017 | 2016 | |
| At beginning of period | 34.4 | 35.1 | |
| Grants received in period | 18.4 | 5 | |
| Deferred grants | 9.3 | -16.8 | -5.7 |
| At end of period | 36 | 34.4 | |
| including: | |||
| non-current | 25 | 9.4 | 10.1 |
| current | 25 | 26.6 | 24.3 |
