true value for investors

The Randstad share reflects true value for investors. This may sound odd, given that Total Shareholder Return amounted to minus 42% in 2008 and that no dividend will be paid for 2008. However, long-term prospects are positive.

annual report 2008 | consolidated financial statements | notes to the consolidated financial statements | 29. Other non-current liabilities

29. Other non-current liabilities

(amounts in millions of €, unless otherwise indicated)

Other non-current liabilities include mainly liabilities with respect to put options from minority shareholders and a small part for deferred considerations from business combinations.

Changes in other non-current liabilities are:


	2008	2007

Value at January 1	-	-
Acquisition of subsidiaries	182.3	-
Reclassification from provisions	4.9	-
Paid for minority interest acquired	-16.8	-
Released for majority interests sold	-1.9	-
Translation	-7.6	-
Interest due to passage of time	4.4	-

Value at December 31	165.3	-

Non-current portion	124.1	-
Current portion	41.2	-

Total other liabilities	165.3	-

to top

notes

1.	general information
2.	summary of significant accounting policies
3.	consolidated cash flow statement
4.	critical accounting estimates and judgments
5.	capital and financial risk management
6.	revenue
7.	cost of services
8.	gross profit
9.	selling expenses
10.	general and administrative expenses
11.	total operating expenses
12.	operating profit
13.	net finance costs
14.	taxes on income
15.	net income
16.	earnings per ordinary share
17.	property, plant and equipment
18.	intangible assets
19.	deferred and current income taxes
20.	financial assets
21.	associates
22.	trade and other receivables
23.	cash and cash equivalents
24.	total assets
25.	shareholders’ equity and dividends per share
26.	preferred shares as a liability
27.	borrowings
28.	provisions
29.	other non-current liabilities
30.	trade and other payables
31.	total liabilities
32.	maturities of financial liabilities
33.	operating working capital
34.	net cash and borrowings
35.	commitments
36.	auditors’ fees
37.	notes to the consolidated cash flow statement
38.	wages and salaries, social security charges and pension charges
39.	employee numbers (average)
40.	share-based payments
41.	related-party transactions
42.	overview of major subsidiaries