Adecoagro S.A. | CIK:0001499505 | 3

  • Filed: 4/27/2018
  • Entity registrant name: Adecoagro S.A. (CIK: 0001499505)
  • Generator: Workiva (WebFilings)
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1499505/000162828018005268/0001628280-18-005268-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1499505/000162828018005268/agro-20171231.xml
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    • ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory

    Provisions for other liabilities

    The Group is subject to several laws, regulations and business practices of the countries where it operates. In the ordinary course of business, the Group is subject to certain contingent liabilities with respect to existing or potential claims, lawsuits and other proceedings, including those involving tax, labor and social security, administrative and civil and other matters. The Group accrues liabilities when it is probable that future costs will be incurred and it can reasonably estimate them. The Group bases its accruals on up-to-date developments, estimates of the outcomes of the matters and legal counsel experience in contesting, litigating and settling matters. As the scope of the liabilities becomes better defined or more information is available, the Group may be required to change its estimates of future costs, which could have a material effect on its results of operations and financial condition or liquidity.
     
    The table below shows the movements in the Group's provisions for other liabilities categorized by type of provision:
     
    Labor, legal and
    other claims
     
    Others
     
    Total
    At January 1, 2016
    2,293

     
    20

     
    2,313

    Additions
    3,447

     
    57

     
    3,504

    Used during year
    (2,174
    )
     
    (14
    )
     
    (2,188
    )
    Exchange differences
    291

     
    (31
    )
     
    260

    At December 31, 2016
    3,857

     
    32

     
    3,889

    Additions
    4,750

     
    —

     
    4,750

    Used during year
    (3,754
    )
     
    (25
    )
     
    (3,779
    )
    Exchange differences
    (15
    )
     
    (2
    )
     
    (17
    )
    At December 31, 2017
    4,838

     
    5

     
    4,843


     
    Analysis of total provisions:
     
    2017
     
    2016
    Non current
    4,078

     
    3,299

    Current
    765

     
    590

     
    4,843

     
    3,889


     
    The Group is engaged in several legal proceedings, including tax, labor, civil, administrative and other proceedings in Brazil, which qualified as contingent liabilities for an aggregate claimed nominal amount of US$ 21.0 million and US$ 18.2 million as of December 31, 2017 and 2016, respectively.