45 Other liabilities

 
€m  
    Non-current   Current   Total  
    2010   2011   2010   2011   2010   2011  
Other liabilities   401   347   4,047   4,106   4,448   4,453  

45.1 Breakdown of other liabilities

 
€m  
    2010   2011  
Tax liabilities   884   954  
Incentive bonuses   609   592  
Compensated absences   385   401  
Deferred income, of which non-current: 76 (previous year: 73)   323   336  
Wages, salaries, severance payments   288   292  
Payables to employees and members of executive bodies   165   227  
Liabilities from the sale of residential building loans, of which non-current: 221
(previous year: 273)		   278   223  
Social security liabilities   181   152  
Debtors with credit balances   116   124  
Overtime claims   100   102  
COD liabilities   58   76  
Other compensated absences   70   63  
Accrued rentals   23   27  
Liabilities from cheques issued   20   21  
Liabilities from loss compensation   15   17  
Accrued insurance premiums for damages and similar liabilities   19   16  
Insurance liabilities   13   9  
Miscellaneous other liabilities, of which non-current: 50 (previous year: 55)   901   821  
    4,448   4,453  

Of the tax liabilities, €523 million (previous year: €504 million) relates to VAT, €280 million (previous year: €252 million) to customs and duties, and €151 million (previous year: €128 million) to other tax liabilities.

The liabilities from the sale of residential building loans relate to obligations of Deutsche Post AG to pay interest subsidies to borrowers to offset the deterioration in borrowing terms in conjunction with the assignment of receivables in previous years, as well as pass-through obligations from repayments of principal and interest for residential building loans sold.

Miscellaneous other liabilities include a large number of individual items.

45.2 Maturity structure

 
€m  
    2010   2011  
Less than 1 year   4,047   4,106  
More than 1 year to 2 years   43   38  
More than 2 years to 3 years   15   34  
More than 3 years to 4 years   13   13  
More than 4 years to 5 years   30   11  
More than 5 years   300   251  
Maturity structure of other liabilities   4,448   4,453  

There is no significant difference between the carrying amounts and the fair values of the other liabilities due to their short maturities or market interest rates. There is no significant interest rate risk because most of these instruments bear floating rates of interest at market rates.

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