TITAN

26. Provisions

(all amounts in Euro thousands)
Group January 1, 2012 Charge for the year Unused amounts reversed Utilized Acquisition of business (note 13) Exchange differences December 31, 2012
Provisions for restoration of quarries a 10.789 1.887 -553 -105 2.364 -160 14.222
Provisions for other taxes b 376 - - - -11 365
Litigation provisions c 1.201 641 -355 -4 - -106 1.377
Other provisions d 6.246 2.658 -6.282 436 - -96 2.962
18.612 5.186 -7.190 327 2.364 -373 18.926
January 1, 2011 Charge for the year Unused amounts reversed Utilized Acquisition of business (note 13) Exchange differences December 31, 2011
Provisions for restoration of quarries a 12.065 1.111 -1.782 -691 - 86 10.789
Provisions for other taxes b 200 53 -38 -9 - 170 376
Litigation provisions c 1.058 171 -4 -27 - 3 1.201
Other provisions d 6.061 4.880 -503 -4.249 - 57 6.246
19.384 6.215 -2.327 -4.976 - 316 18.612
2012 2011
Non current provisions 17.317 16.553
Current provisions 1.609 2.059
18.926 18.612
(all amounts in Euro thousands)
Company January 1, 2012 Charge for the year Unused amounts reversed Utilized December 31, 2012
Provisions for restoration of quarries a 1.758 239 -161 - 1.836
Other provisions d 1.464 1.268 -2.078 588 1.242
3.222 1.507 -2.239 588 3.078
January 1, 2011 Charge for the year Unused amounts reversed Utilized December 31, 2011
Provisions for restoration of quarries a 1.709 289 -240 - 1.758
Other provisions d 5.884 223 -419 -4.224 1.464
7.593 512 -659 -4.224 3.222
2012 2011
Non current provisions 1.736 1.558
Current provisions 1.342 1.664
3.078 3.222

a. This provision represents the present value of the estimated costs to reclaim quarry sites and other similar post-closure obligations. It is expected that this amount will be used over the next 2 to 50 years.

b. This provision relates to future obligations that may result from tax audits for other taxes. It is expected that this amount will be fully utilized in the next five years.

c. This provision has been established with respect to claims made against certain companies in the Group by third parties, mainly against the subsidiaries in Egypt. These claims concern labour compensations, labour cases for previous yeas benefits and dues, claims for shares revaluation. It is expected that this amount will be utilized mainly in the next twelve months.

d. The other provisions are comprised of amounts relating to risks none of which are individually material to the Group. The Company's existing carrying amount includes, among others, the provision for staff bonuses. It is expected that the remaining amounts will be used over the next 2 to 20 years.