Annual Report 2006

Notes to the Consolidated Financial
Statements 2006 of the Mikron Group
CHF 1‘000 Note 31.12.2006 31.12.2005
Statement of changes in deferred tax liabilities
Balance at 1 January 5‘976 10‘236
Set-up and reversal of temporary differences 1‘587 -589
Adjustments directly through the equity 204 -84
Changes in the scope of consolidation 0 -3‘589
Translation adjustments 5 2
Balance at 31 December 7‘772 5‘976
thereof related to the revaluation of property 3‘218 3‘190
Statement of changes in deferred tax assets
Balance at 1 January 7‘435 4‘528
Utilization and expiration of deferred tax assets 5.7 -440 -1‘418
Capitalization of deferred tax assets 5.7 1‘373 4‘970
Other changes -23 -631
Translation adjustments 23 -14
Balance at 31 December 8‘368 7‘435
Not capitalized tax loss carry forwards
Expiry
- in the following year 0 0
- in 2 to 3 years 149‘439 2‘347
- in 4 to 5 years 13‘046 168‘287
- in 6 to 7 years 17‘003 3‘277
- in 8 to 10 years 0 35‘104
- No expiry date 42‘239 65‘839
Total not capitalized tax loss carry forwards 221‘727 274‘854
Deferred tax assets are recognized only to the extent that it is probable that future taxable profits will be available against
which the tax losses may be utilized.
The tax loss carry forwards for which no deferred tax asset is recognized amount to CHF 221.7 million (prior year: CHF 274.9
million). The respective potential tax saving, calculated using the current tax rate of the Group, amounts to CHF 44.3 million
(prior year: CHF 54.4 million) taking into account also the reduced rate for holding companies in Switzerland.
No deferred tax items are recognized in respect of temporary differences on investments in subsidiaries, since the Group
is able to control the reversal of such temporary differences and it is probable that they will not reverse in the foreseeable
future.
6.12 Financial liabilities
CHF 1‘000 31.12.2006 31.12.2005
Short-term financial liabilities
Bank overdrafts 421 0
Finance lease liabilities 1‘085 2‘127
Derivative financial instruments 386 208
Total short-term financial liabilities 1‘892 2‘335
Long-term financial liabilities
Finance lease liabilities 1‘885 4‘291
Total long-term financial liabilities 1‘885 4‘291
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