NOTE 19
Movements in deferred tax in 2011 |
||||||
| € million | 31 Dec. 2010 | Income statement charge |
Tax charged/ credited to equity |
Exchange differences |
Acquisition/ disposal of subsidiary |
31 Dec.2011 |
| Deferred tax assets | ||||||
| Margin included in inventories | 1.1 | 0.1 | 1.1 | |||
| Finance lease assets | 0.2 | -0.1 | 0.1 | |||
| Provisions | 9.2 | -1.4 | 7.8 | |||
| Pensions | 0.5 | -0.1 | 0.4 | |||
| Confirmed losses | 3.2 | 0.3 | 3.6 | |||
| Others | 13.7 | 0.3 | 0.2 | -0.9 | 13.3 | |
| Total | 27.9 | -1.0 | 0.2 | -0.9 | 26.2 | |
| Deferred tax liabilities | ||||||
| Cumulative depreciation differences | 36.3 | 1.6 | 37.9 | |||
| Consolidation allocation difference | 13.9 | -0.4 | 0.1 | 1.3 | 14.9 | |
| Pensions | 47.2 | 1.9 | 49.1 | |||
| Others | 14.8 | 1.6 | -3.7 | -0.5 | 13.4 | |
| Total | 112.2 | 4.7 | -3.7 | -0.4 | 1.3 | 115.3 |
| Net deferred tax liability | 84.3 | 89.0 | ||||
Balance sheet division of net tax liability |
||||||
| € million | 2011 | 2010 | ||||
| Deferred tax assets | 2.0 | 2.9 | ||||
| Deferred tax liabilities | 91.1 | 87.1 | ||||
| Total | 89.0 | 84.3 | ||||
The group ‘others’ within deferred tax assets includes €0.8 million of deferred tax assets arising from compliance with the Group’s accounting principles and €6.1 million of deferred tax assets resulting from timing differences between local accounting policies and tax treatment.
Movements in deferred tax in 2010 |
||||||
| € million | 31 Dec. 2009 | Income statement charge |
Tax charged /credited to equity |
Exchange differences |
Acquisition/ disposal of subsidiary |
31 Dec.2010 |
| Deferred tax assets | ||||||
| Margin included in inventories | 0.9 | 0.1 | 1.1 | |||
| Finance lease assets | 0.1 | 0.1 | 0.2 | |||
| Provisions | 8.9 | 0.4 | 9.2 | |||
| Pensions | 0.5 | -0.1 | 0.5 | |||
| Confirmed losses | 3.8 | -0.9 | 0.3 | 3.2 | ||
| Others | 17.0 | -2.1 | -1.4 | 0.2 | 13.7 | |
| Total | 31.2 | -2.4 | -1.4 | 0.5 | 27.9 | |
| Deferred tax liabilities | ||||||
| Cumulative depreciation differences | 39.3 | -2.4 | -0.6 | 36.3 | ||
| Change in Group composition | 15.0 | -1.7 | 0.7 | -0.1 | 13.9 | |
| Pensions | 83.0 | -35.8 | 47.2 | |||
| Others | 8.6 | 1.9 | 4.3 | 14.8 | ||
| Total | 145.9 | -38.0 | 4.3 | 0.7 | -0.7 | 112.2 |
| Net deferred tax liability | 114.6 | 84.3 | ||||
At 31 December 2011, the Group’s unused confirmed losses were €158.8 million, for which deferred tax assets have not been recognised, because the realisation of the related tax benefit through future taxable profits is not probable.
Confirmed losses for which tax assets have not been recognised expire as follows |
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| € million | 2012 | 2013 | 2014 | 2015 | 2016 | 2017- | Total |
| 2.3 | 0.0 | 0.0 | 0.5 | 7.2 | 148.8 | 158.8 | |
Deferred income tax liabilities have not been recognised for taxes that would be payable on subsidiaries’ unremitted earnings, because the subsidiaries’ distributions are at the discretion of the Group and a distribution of profits with tax effect is not probable in the near future.