Catom Annual Report 2022 EN

2.11.4. Provision for long-service awards A provision is recognised for long-service awards, equal to the present value of the expected payments in connection with such awards during employment, applying a discount rate of 4%. The amount of the provision takes into account the likelihood that the employees involved will remain with the company.

2.11.5. Provision for clean-up operations This provision relates to environmental obligations and risks. It is stated at nominal value.

2.11.6. Provision for major maintenance The item relates to a provision made in respect of the maintenance of the bunker boats and bunker stations, which is valued at nominal value. In determining the provision, account is taken of future expenditure and a balanced composition of the provision and an indexation of 1% per annum. Costs of major maintenance are charged to the provision to the extent that it has been formed for the intended costs. If the costs of major main tenance exceed the provision formed, these (additional) costs are charged to the result. 2.11.7. Other provisions Other provisions are stated at the nominal amount of the expenditures expected to be required to settle the liabilities for which these provisions have been recognised. 2.12. Long-term and current liabilities Upon initial recognition, liabilities are stated at fair value. Transaction costs directly attributable to the acquisition of liabilities are included in the initial recognition. Liabilities are subsequently stated at amortised cost, which is the amount received, taking into account any premium or discount, less transaction costs. 2.12.1. Negative goodwill Negative goodwill arising from acquisitions is deferred and credited to the income statement on a straight-line basis in proportion to the weighted average remaining useful life of the amortisable assets acquired. The provision has a predominantly long-term character.

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