annual report 2004 - Severočeské doly a.s.

66
——
67
The effect on retained earnings of differences in IFRS and CAS is as follows (in CZK million):
2004 2003
Consolidated retained earnings per statutory accounts at end of year 7,655 8,644
Adjustments required by IFRS:
Reclassification of items from retained earnings, net (228) (150)
Repairs and maintenance accrual, net of deferred tax 1,349 1,314
Provision for decommissioning, reclamation and mining damages, net of deferred tax (4,828) (3,938)
Capitalized costs of provisions, net of deferred tax 1,753 1,755
Interest income of available-for-sale investments (55) (56)
IFRS retained earnings at end of year 5,646 7,569
The effect on net profit of differences in IFRS and CAS is as follows (in CZK million):
2004 2003
Consolidated net profit per statutory accounts 1,194 1,390
Adjustment required by IFRS:
Reclassification of items from retained earnings, net (158) (92)
Repairs and maintenance accrual, net of deferred tax 35 356
Provision for decommissioning, reclamation and mining damages, net of deferred tax (890) (412)
Depreciation of capitalized costs of provisions, net of deferred tax (2) 197
Interest income of available-for-sale investments — (28)
IFRS net profit 179 1,411