Annual Report 2012

Financial Statements (International)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
for the year ended 31 December 2012
28 DEFERRED TAX ASSETS AND LIABILITIES (Continued)
The Company
168
Annual Report 2012 CHINA PETROLEUM & CHEMICAL CORPORATION
Recognised
Balance at Recognised in in other Balance at
1 January income comprehensive 31 December
2011 statement income 2011
RMB millions RMB millions RMB millions RMB millions
Current
Receivables and inventories 3,084 (378) — 2,706
Accruals 1,617 163 — 1,780
Non-current
Property, plant and equipment (1,019) (847) — (1,866)
Embedded derivative components of the convertible bonds (64) (315) — (379)
Others 7 15 1 23
Net deferred tax assets 3,625 (1,362) 1 2,264
Balance at Recognised in Transferred Balance at
1 January income to a 31 December
2012 statement subsidiary 2012
RMB millions RMB millions RMB millions RMB millions
Current
Receivables and inventories 2,706 224 (189) 2,741
Accruals 1,780 (1,450) — 330
Non-current
Property, plant and equipment (1,866) (177) — (2,043)
Embedded derivative components of the convertible bonds (379) 15 — (364)
Others 23 (30) — (7)
Net deferred tax assets 2,264 (1,418) (189) 657