29. Other current liabilities

An analysis of Other current liabilities is as follows:

(€ million)At December 31, 2013At December 31, 2012
Advances on buy-back agreements1,3791,073
Indirect tax payables405383
Accrued expenses and deferred income452397
Payables to personnel226222
Social security payables183184
Other359407
Total Other current liabilities3,0042,666

An analysis of Other current liabilities (excluding Accrued expenses and deferred income) by due date is as follows:

 At December 31, 2013At December 31, 2012
(€ million)Due within one yearDue between one and five yearsDue beyond five yearsTotalDue within one yearDue between one and five yearsDue beyond five yearsTotal
Other current liabilities (excluding Accrued expenses and deferred income)1,782678922,5521,568613882,269

Advances on buy-back agreements refer to agreements entered into by the Group during the year or which still remain effective at the balance sheet date, and relate to assets included in Property, plant and equipment. The item Advances on buy-back agreements consists of the following:

  • at the date of the sale, the price received for the product is recognized as an advance in liabilities; 
  • subsequently, since the difference between the original sales price and the repurchase price is recognized in profit or loss as operating lease installments on a straight-line basis over the lease term, the balance represents the remaining lease installments yet to be recognized in income plus the repurchase price.

The carrying amount of Other current liabilities is in line with their fair value.