C24. Trade payables and other current liabilities

Trade payables and other current liabilities were distributed as follows.

SEK in millions

Dec 31, 2015

Dec 31, 2014

Currency swaps, forward exchange contracts and currency options held-for-trading

101

416

Subtotal (see Fair value hierarchy levels – Note C25)

101

416

Accounts payable at amortized cost

8,685

10,644

Current liabilities at amortized cost

2,296

2,694

Subtotal (see Categories – Note C25)

11,082

13,754

Other current liabilities

5,941

6,949

Deferred income

3,751

4,365

Total trade payables and other current liabilities

20,774

25,067

Former segment region Eurasia is classified as held for sale and discontinued operations as of December 31, 2015 and therefore not included in the figures for 2015. The comparative year 2014 has not been restated. For further information, see Note C34 “Discontinued operations and assets classified as held for sale.”

For accounts payable and current liabilities, the carrying value equals fair value as the impact of discounting is insignificant. Refer to Note C25 “Financial assets and liabilities by category and level” for more information on financial instruments classified by category/fair value hierarchy level and to Note C26 “Financial risk management” on management of liquidity risk.

As of December 31, 2015, contractual cash flows for liabilities at amortized cost represented the following expected maturities.

Expected maturity
SEK in millions

Jan–Mar 2016

Apr–Jun 2016

Jul–Sep 2016

Oct–Dec 2016

Total

Liabilities at amortized cost

10,241

410

16

314

10,981

Corresponding information for currency derivatives held-for-trading are presented in section “Liquidity risk management” to Note C26 “Financial risk management.”

The main components of current liabilities are accrued payables to suppliers and accrued interconnect and roaming charges, while other current liabilities mainly entail value-added tax, advances from customers and accruals of payroll expenses and social security contributions. Deferred income mainly relate to subscription and other telecom charges. Included is also the current portion of deferred “day 1 gains,” refer to Note C23 “Other long-term liabilities.”

© TeliaSonera 2015
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