2011 Annual Report - Italcementi Group

2011 Annual Report
Presentation 4
General information 15
Annual Report Consolidated Annual Report Directors’ report 150
Extraordinary session Italcementi S.p.A. Annual Report Separate financial statements 239
9. Tax assets and liabilities
Tax assets were as follows:
(in thousands of euro) 12.31.2011 12.31.2010 Change
Tax receivable for prior-year taxes 431 329 102
Tax credit for "dividend imputation" 583 12,357 ( 11,774)
Tax receivables for IRAP payments on account and surpluses to be recovered 5,511 5,511 -
Payable for IRAP on income in the year ( 1,729) - ( 1,729)
Total 4,796 18,197 ( 13,401)
The principal of the tax credit for “dividend imputation” was collected in full, while a receivable for the interest
component was still outstanding.
10. Equity investments, bonds and financial assets
(in thousands of euro) 12.31.2011 12.31.2010 Change
Equity investments in other companies 288 289 ( 1)
Financial receivables due from Group companies 371,671 419,449 ( 47,778)
"Bravosolution 2007-2012" convertible bonds 3,799 - 3,799
Total 375,758 419,738 ( 43,980)
Financial receivables due from Group companies consist of current accounts, regulated at normal market
rates, which represent the financial support provided in relation to operating requirements.
The conversion of the 3,664,895 “Bravosolution 2007-2012” convertible bonds may take place over the lifetime
of the loan at a rate of 1 Bravosolution ordinary share for each bond with a par value of 1 euro.
The carrying amount of 3,799 thousand euro, determined in accordance with the amortized cost criterion,
reflects the value of the bonds, taking account of the value of the option to convert them into shares.
11. Cash and cash equivalents
(migliaia di euro) 31.12.2011 31.12.2010 Variazione
Depositi bancari e postali 166 135 31
Assegni 174 669 ( 495)
Denaro e valori in cassa 139 142 ( 3)
Totale 479 946 ( 467)
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