Ardagh Glass Finance plc - Irish Stock Exchange

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
15. Deferred income tax (Continued)
The movement in deferred tax assets and liabilities during the year, without taking into
consideration the offsetting of balances within the same tax jurisdiction, is as follows:
Deferred tax liabilities
Accelerated
tax Fair value
depreciation gains Other Total
E’000 E’000 E’000 E’000
At 1 January 2007 ............................... (16,372) (1,244) (53) (17,669)
Arising on acquisitions ............................ (21,743) (78,941) (834) (101,518)
Charged/(credited) to the income statement ............ 8,959 7,217 (1,970) 14,206
Exchange movement ............................. 1,031 107 — 1,138
At 31 December 2007 ............................. (28,125) (72,861) (2,857) (103,843)
Charged/(credited) to the income statement ............ (2,908) 15,542 888 13,522
Charged to equity ............................... 907 — — 907
Exchange movement ............................. 2,806 276 6 3,088
At 31 December 2008 ............................. (27,320) (57,043) (1,963) (86,326)
Deferred tax assets
Pension Other Total
E’000 E’000 E’000
At 1 January 2007 ........................................... 8,055 1,177 9,232
Arising on acquisitions ........................................ 4,286 2,898 7,184
(Charged)/credited to the income statement ......................... (2,531) 333 (2,198)
Credited to equity ............................................ (1,155) — (1,155)
Exchange movement .......................................... (603) 53 (550)
At 31 December 2007 ......................................... 8,052 4,461 12,513
(Charged)/credited to the income statement ......................... (141) 3,513 3,372
Charged to equity ............................................ 5,018 — 5,018
Exchange movement .......................................... (2,200) (832) (3,032)
At 31 December 2008 ......................................... 10,729 7,142 17,871
The deferred income tax credited to equity during the year was A5,925,000 (2007: A1,211,000)
related to the actuarial loss on the pension schemes.
The Group did not recognise deferred income tax assets of A982,000 (2007: A3,716,000) in respect
of losses amounting to A7,859,000 (2007: A13,431,000) that can be carried forward against future taxable
income.
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