Below are excerpts from Notes to consolidated financial statements of four companies reporting movements in provisions.
Stora Enso (Finland €“ IFRS €“ Source: Annual report 2011 €“ Production of paper)

Repsol YPF (Spain €“ IFRS €“ Source: Annual report 2011 €“ Oil and gas)

The €˜Other provisions€™ caption includes mainly technical reserves for insurance, provisions for environmental contingencies, provisions for litigation in progress and other provisions for future contingencies.
Cobham (United Kingdom €“ IFRS €“ Source: Annual report 2011 €“ Equipment, systems and components for aerospace and defense industries)

Movements in provisions during the year are as follows:

Thales (France €“ IFRS €“ Source: Annual report 2011 €“ Electronic systems and industrial electronics)

For the four studied companies, all the figures mentioned in the caption €˜total€™ or €˜balance at end of period€™ have been recorded in the balance sheet.
Required
1. What is (are) the main formal difference(s) you can notice in the presentation of the tables between the four companies?
2. Identify and comment on the differences in the terminology used to name each table.
3. Explain each component of the movements for the four studied companies.
4. Explain the nature of each provision.
5. What difference(s) do you notice in the way these companies record reductions in provisions?

Note 23 Other provisions Other in EUR millions Environmental Restructuring Total Carrying value at 1 January 2011 Translation difference Reclassificaton Charge in income statement 119.1 0.7 3.0 123.2 0.4 -3.1 obligatory provisions 245.1 1.2 -0.1 2.8 0.1 146.7 1.1 3.0 20.2 -8.0 -12.1 125.9 183.5 27.0 -22.2 -84.9 349.6 New provisions 33.8 5.7 -14.2 -66.1 79.7 Increase in existing provisions Reversal of existing provsions Payments Carrying value at 31 December 2011 Allocation between current and non-current liabilities Current liabilities: Payable within 12 months Non-current liabilities: Payable after 12 months Total at 31 December 2011 -6.7 144.0 10.5 115.4 53.0 26.7 79.7 138.4 5.6 144.0 201.9 147.7 349.6 125.9 Note 17 Current and non-current Current and non-current provisions in EUR millions for con and ex Provisions Provisions P Other Total for field for contracts pensions dismanting dismanting or contractsEnvironment costs 1,433 417 182 1,633 4,176 200 535 (107) 188) (115) (361) Balance at 31 December 2010 Period proisions 15 94 50 82 94 charged to resuits Reversals of provisions 3) with a credit to results Provisions released due (41) to payment Changes in the scope of consolidation Translation differences Reclassifications and 4 12 298 (179) (96) 29 other cha Balance at 1,844 302 95 1,527 4,278 31 December 2011 21. Provisions 2011 2m Current liabilities Non-current liabilities 2010 37.1 8.0 45.1 37.8 4.6 42.4 ati Warranty ContractlossAircraft Provision on Other Total claims provisions maintenance business provisions disposals At 1 January 2011 Additional provisions in the year Acquired on business combinations Utilization of provisions Unused amounts reversed in the year Reclassifications At 31 December 2011 Closing balanoes are analyzed as: Current liabilities Non-current liabilities 6.5 6.0 0.4 (3.6) 5.6 3.4 3.0 2.8 15.8 115 424 3.6 15.8 2.5 2.9 (0.5) (2.0) (10.0) (3.7) (2.5) (0.2) 1.1 3.9 7.7 4.5 15.3 13.7 45.1 6.9 0.8 7.7 2.9 1.0 3.9 1.4 3.1 4.5 15.3 10.6 37.1 3.1 80 15.3 .45.1 Note 22 Reserves for contingencies 31/12/2011 m 31/12/10 Reclassification Increase Utilization Reversal Changes in 31/12/11 scope and exchange rate 210.3 157.9 74 298.0 112.1 5.5 142.4 309.8 55.7 1,230.5 13.9 (82.3 48.8 (201.9 (87.6) (90.5) 8.0) 15.4) (21.5) (2.0) (22.5) (13.4) (82.8) 143.6 Restructuring Litigation Guarantees Losses at completion Provsions on contracts Other Total 140.1 298.1 274.6 180.3 195.6 369.6 1,458.3 3.0 13.4 14.3 (8.6) (514) (84.3) 110.8 27.8 45.8 105.4 14.9 5.1 8.9 (30.6) 482 (569.3)