annual financial statement 2011 - conwert Immobilien Invest SE
annual financial statement 2011 - conwert Immobilien Invest SE
annual financial statement 2011 - conwert Immobilien Invest SE
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Annual Financial Statement <strong>2011</strong><br />
2.3.3. Reserves<br />
This position represents the reserve created in connection with the purchase of treasury<br />
shares, whereby TEUR 24,990 were added during <strong>2011</strong>.<br />
2.4. Provisions<br />
The following table shows the classification of provisions:<br />
Type of provision Balance on<br />
Balance on<br />
1.1.<strong>2011</strong> Use Addition 31.12.<strong>2011</strong><br />
TEUR TEUR TEUR TEUR<br />
Tax provisions 13,634 0 3,223 16,857<br />
Impending losses 0 0 27,896 27,896<br />
Legal and consulting expenses 737 737 919 919<br />
Employee-related provision 502 474 844 872<br />
Miscellaneous 3,580 3,540 204 244<br />
Total 18,453 4,751 33,086 46,788<br />
The tax provisions include provisions for subsequent tax payments in connection with current<br />
tax losses transferred from foreign (German) group companies as part of the group taxation<br />
scheme. These amounts were accrued because the respective assessments or resolutions had<br />
not been issued by the end of <strong>2011</strong>.<br />
The provision for impending losses relates to subsidiaries whose equity is negative after the<br />
inclusion of the undisclosed reserves contained in properties. The tax provisions were created<br />
for tax liabilities in connection with current tax losses transferred from foreign (German)<br />
group companies as part of the group taxation scheme.<br />
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