Note 11 Cash and cash equivalents

The effective interest rate on cash and cash equivalents ranged from -0.62% to 0.0% (2015: -0.20% to 0.17%). Cash and cash equivalents are held almost entirely in euros.

Note 12 Equity

The company's authorised capital is divided into 350 million shares of €5 nominal value. As at year-end 2016, 136,794,964 shares were in issue (2015: 136,794,964).

Note 13 Interest-bearing debt

The carrying amount of the long-term interest-bearing debt, including the current portion, was as follows:

Note 14 Deferred income

Deferred income relates to construction contributions, investment grants and subsidies received.

Note 15 Provisions for employee benefits

Prompted by the deterioration of the funding ratio in 2008, ABP introduced a recovery plan in 2009. At the start of each year ABP evaluates the progress of the recovery on the basis of the actual funding ratio at the end of the preceding year.

Note 16 Other provisions

The other provisions as at year-end 2016 amounted to €5 million (2015: €3 million) and related to loss-making contracts among other things.

Note 17 Deferred tax

The deferred tax item is made up as follows:

Note 18 Trade and other payables

Note 19 Leases

The following tables of assets and liabilities relating to leases do not include the figures for Endinet as at year-end 2015.

Note 20 Contingent assets and liabilities

Please refer to note [19] to the consolidated financial statements for details of rights and obligations arising from operating leases.