Financial performance 2024 consolidated financial statements 05 7.2 Other current assets The carrying amount of other current assets is analyzed in the table below: (in € millions) December 31, 2024 December 31, 2023 Prepayments to suppliers 187 128 Income tax payable 408 295 Other taxes receivable 542 539 Other 428 384 Impairment (1) (1) OTHER CURRENT ASSETS 1,564 1,345 Other taxes receivable mainly concern value-added tax. 7.3 Provisions and other current and non-current liabilities ACCOUNTING POLICIES Provisions Provisions are recognized when a legal or constructive obligation has been incurred that will probably lead to an outflow of resources that can be reasonably estimated. Provisions for reorganizations and adaptation of activities are recognized when the Group has a detailed formal plan that has been announced. Provisions are recorded at the net present value of the estimated cash outflows. December 31, 2024 December 31, 2023 (in € millions) Non-current Current Total Non-current Current Total Provisions 749 440 1,188 674 365 1,038 Employee benefit obligations 23 834 857 28 976 1,004 Payroll tax liabilities - 368 368 - 381 381 Customers – Deferred rebates and other liabilities - 822 822 - 777 777 Income tax payable - 247 247 - 193 193 Other taxes - 300 300 - 267 267 Other 157 291 448 158 349 507 PROVISIONS AND OTHER LIABILITIES 928 3,302 4,230 860 3,307 4,167 376 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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