2012 Annual Report - Italcementi Group

2012 Annual Report
Presentation 4
General information 14
Annual Report Consolidated Annual Report Directors’ report 146
Sustainability disclosure Italcementi S.p.A. Annual Report Separate financial statements 241
Extraordinary session 351
In November 2011 the company appealed this notice. On 25 June 2012 the hearing was held. On January 25,
2013 the sentence was deposited upholding in full the company’s appeal and revoking the notice.
The provision for tax was used to pay tax demands, while the surplus of 850 thousand euro was recorded
following a sentence issued by the Court of Cassation for the closure of the dispute for the years 1996 to 1999.
The increase in the provision for the restoration of quarries includes a cash adjustment of 443 thousand euro,
charged to the income statement under “Finance costs”.
The decreases in the provision for restoration of industrial areas refer to the surplus created against forecasts
of lower costs to be incurred in relation to the remediation of a site.
The increase in the provision for other risks largely refers to the allocation of likely costs connected to cases
involving employees.
The decrease in the provision for other risks relates to the payments made in favor of the Azzanelli foundation
for construction of a new geriatric facility.
19. Deferred tax assets and deferred tax liabilities
12.31.2011 Adjustments to prior
year taxes
Increases Decreases Merger contribution 12.31.2012
(in thousands of euro)
Deferred tax liabilities 25,753 4 4 ( 1,321) 1 24,441
Deferred tax assets ( 52,286) ( 4,303) ( 38,533) 7,481 ( 4,006) ( 91,647)
Unactivated deferred
tax assets - - 38,529 - 203 38,732
Total ( 26,533) ( 4,299) - 6,160 ( 3,802) ( 28,474)
In relation to the tests carried out on the medium-term recoverability of deferred tax assets, the company
adopted the criterion of activating new deferred tax assets only within the limits of the deferred tax set aside in
the year.
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