Get Adobe Flash player 5Financial statements CONSOLIDATED FINANCIAL STATEMENTS NOTE 24 RECEIVABLES AND PAYABLES (1) At December 31, 2011, this amount included €156 million “prĂ©compte” dividend withholding tax. Following a ruling handed down by the French Supreme Court of Appeal in December 2012 that Accor was entitled to retain approximately €6.3 million the €156 million already refunded, the Group cancelled €6.3 million in tax payables by crediting reserves and cancelled €1.4 million by crediting tax expense (see note 39).

Note 24.1. Trade receivables and related provision

(in million of euros) Dec. 2011

Gross value 400 Provisions (36)

NET 364

Dec. 2012 435 (33) 402

Provisions for impairment in value of trade receivables correspond to numerous separate provisions, none of which are material. Pastdue receivables are tracked individually and regular estimates are made of potential losses in order to increase the related provisions if and when required. Past-due receivables not covered by provisions are not material.

Note 24.2. Details of other receivables and accruals

(in million of euros) Dec. 2011

Dec. 2012 Recoverable VAT 156 151 Prepaid wages and salaries and payroll taxes 3 2 Other prepaid and recoverable taxes (1) 301 58 Other receivables 309 291 Other prepaid expenses 198 59 OTHER RECEIVABLES AND ACCRUALS, AT COST 967 561 PROVISIONS (1) (287) (45) OTHER RECEIVABLES AND ACCRUALS, NET 680 516 (1) In 2011, other prepaid and recoverable taxes included €263 million paid by CIWLT in settlement of a tax reassessment, which had been written down in full. In 2012, CIWLT lost its appeal before the French Supreme Court of Appeal and the €242.5 million tax reassessment for the years 1998 to 2002 became final. As a result, the tax receivable was cancelled and the corresponding provision was reversed in the amount of €242.5 million (see note 39). Note 24.3. Details of other payables Dec. 2012 VAT payable 110 78 Wages and salaries and payroll taxes payable 408 351 Other taxes payable (1) 276 192 Other payables 428 445 Deferred income 111 76 OTHER PAYABLES 1,333 1,142

(in million of euros) Dec. 2011