Consolidated Financial Statements >
CONSOLIDATED FINANCIAL STATEMENTS AND EXPLANATORY NOTES
234
| 2012 annual report prysmian group
16. DEFERRED TAXES
These are detailed as follows:
Movements in deferred taxes are detailed as follows:
(in millions of Euro)
31 December 2012
31 December 2011
Deferred tax assets:
- Deferred tax assets recoverable after more than 12 months
108
33
- Deferred tax assets recoverable within 12 months
19
64
Total deferred tax assets
127
97
Deferred tax liabilities:
- Deferred tax liabilities reversing after more than 12 months
(78)
(95)
- Deferred tax liabilities reversing within 12 months
(17)
(11)
Total deferred tax liabilities
(95)
(106)
Total net deferred tax assets (liabilities)
32
(9)
(*) These comprise Provisions for risks and charges (current and non-current) and Employee benefit obligations.
(in millions of Euro)
Accumulated
Provisions (*)
Tax losses
Other
Total
depreciation
Balance at 31 December 2010
(65)
41
9
1
(14)
Business combinations
(100)
5
47
26
(22)
Currency translation differences
-
-
-
(2)
(2)
Impact on income statement
2
2
(7)
27
24
Impact on equity
-
3
-
2
5
Balance at 31 December 2011
(163)
51
49
54
(9)
Business combinations
-
-
-
-
-
Currency translation differences
1
(3)
-
(1)
(3)
Impact on income statement
4
13
22
(7)
32
Impact on equity
-
14
-
3
17
Other and reclassifications
(5)
30
-
(30)
(5)
Balance at 31 December 2012
(163)
105
71
19
32
The Group has not recognised any deferred tax assets for
carryforward tax losses of Euro 675 million at 31 December
2012 (Euro 793 million at 31 December 2011), or for future
deductible temporary differences of Euro 187 million
at 31 December 2012 (Euro 232 million at 31 December
2011). Unrecognised deferred tax assets relating to these
carryforward tax losses and deductible temporary differences
amount to Euro 251 million at 31 December 2012 (Euro 235
million at 31 December 2011).
