Annual report 2012 - Peab

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Reconciliation of effective tax
Group
MSEK 2012 2012 (%) 2011 2011 (%)
Pre­tax profit
Tax with tax rate for the parent
813 1,195
company
Effect of other tax rates for
–214 26.3 –314 26.3
foreign subsidiaries 4 –0.5 3 –0.3
Non-deductible expenses –116 14.3 –129 10.8
Tax exempt income
Deductible non profit-influencing
137 –16.9 88 –7.4
items
Revaluation of previous years
28 –3.4 34 –2.8
reported values of deferred taxes
Utilized non-capitalised loss
32 –3.9 21 –1.8
carry-forwards 4 –0.5 2 –0.2
Tax attributable to previous years –17 2.1 40 –3.3
Changed tax rates
Increase in loss carry-forwards
without corresponding activation
80 –9.8 –1 0.1
of deferred tax
Standard interest on tax
–42 5.2 –1 0.1
allocation reserve
Adjustment of net profit for joint
–1 0.1 0 0.0
ventures included in pre-tax profit 17 –2.1 5 –0.4
Reported effective tax –88 10.8 –252 21.1
Tax attributable to other comprehensive income
Group Pre­tax Tax After tax Pre­tax Tax After tax
MSEK 2012 2011
Translation difference for the year when translating foreign
operations –12 4 –8 –1 1 0
Loss from exchange risk hedging in foreign operations –2 1 –1 1 1
Financial assets available for sale –87 –87 –17 –17
Cash flow hedges
Shares in associated companies/JV’s other comprehensive
17 10 27 –204 15 –189
income –1 –1 –2 –2
Other comprehensive income –85 15 –70 –223 16 –207
Reported in the balance sheet
Deferred tax recoverables and tax liabilities
Parent company
MSEK 2012 2012 (%) 2011 2011 (%)
Pre­tax profit
Tax in accordance with tax rate
–227 1,417
for the parent company 60 26.3 –373 26.3
Non-deductible expenses –100 44.0 –94 6.6
Tax exempt income
Standard interest on tax
41 –18.1 345 –24.3
allocation reserve –1 0.4 – –
Tax attributable to previous years 0 0.0 –3 0.2
Reported effective tax 0 0.0 –125 8.8
Group Deferred tax recoverables Deferred tax liabilities Net
Changes recognized in
income for the year
MSEK 2012 2011 2012 2011 2012 2011
Tangible assets –376 –454 –376 –454 83
Intangible assets –79 –96 –79 –96 11
Project and development properties –39 –40 –39 –40 11
Work-in-progress 12 7 12 7 5
Inventories –8 –5 –8 –5 –2
Accounts receivable 47 7 47 7 40
Recognized but not invoiced income –12 –18 –12 –18 7
Other receivables 3 2 3 2 1
Interest-bearing liabilities 116 145 116 145 –29
Provisions for pensions 2 3 2 3 –1
Provisions 61 31 61 31 29
Invoiced income not yet recognized 57 –7 57 –7 65
Other liabilities 139 100 139 100 39
Loss carry-forwards 197 190 197 190 –5
Tax allocation reserve –84 –83 –84 –83
Safety reserve –249 –249 –249
Tax recoverables/tax liabilities 634 485 –847 –703 –213 –218 5
Offset –403 –327 403 327 0 0
Net 231 158 –444 –376 –213 –218 5
60 PEAB ANNUAL REPORT 2012