Annual Report 2012 - Indesit

Separate financial statements at 31 December 2012 – Notes
Other movements include the net effect, 0.9 million euro, resulting from the inclusion in 2012 of a
financial guarantee of Indesit Company S.p.A. for Indesit Company Polska Sp.zo.o., to that already
recognised in 2011.
The cumulative impairment losses recognised are analyzed in the following table.
Company name (million euro) 31.12.2012 31.12.2011
Indesit Electrodomesticos S.A. (45.2) (45.0)
Merloni Domestic Appliances Ltd. (10.6) (10.6)
Indesit Company Beyaz Esya Pazarlama A.S. (4.3) (4.3)
Aeradriatica S.p.A. (0.2) (0.2)
Indesit Ukraine LLC (1.1) -
Radio A Korasidis AE (0.7) (0.7)
Total (62.1) (60.8)
There is no basis for the reinstatement of these impairment losses at the reporting date.
The carrying amount of equity investments is compared with their equity value in Attachment 5. The
negative differences emerging from this comparison mainly relate to Indesit Company UK Holdings.
Its recoverable amount has therefore been verified by testing for impairment the UK CGU, as discussed
in the analyses of intangible assets with an indefinite useful life and goodwill, presented in note
9.10 to the consolidated financial statements. Taking account of the results of these analyses, the
difference between the carrying amount of the investments in Indesit Company UK Holdings and their
measurement using the equity method is deemed to be recoverable.
Similar differences with respect to their carrying amounts also apply to Merloni Domestic Appliances,
3.5 million euro, and Indesit Company Rus Ltd, 4.3 million euro. With regard to Merloni Domestic
Appliances, the recoverable amount of the entities active in the UK market is tested annually for
impairment. The losses relating to Indesit Company Rus are not deemed permanent.
7.5 Deferred tax
assets
Deferred tax assets at 31 December 2012 amount to 32.4 million euro (24.0 million euro).
The analysis of deferred taxation and information about the deferred tax assets offset against deferred
tax liabilities are provided in the note on deferred taxation.
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