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noteS TO THE CONSolidated FINANCIAL StatementS
conSolidated FINANCIAL StatementS FOR THE Year ENDED 31 DECEMBER 2011
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(30) DEFERRED TAX ASSetS AND LIABILITIES
Deferred taxes comprise the following:
EUR thousand 31 Dec 2011 31 Dec 2010
Deferred tax assets
Non-current assets
intangible assets – different useful lives 157 83
intangible assets – tax deductible goodwill 2,669 2,391
property, plant and equipment – different useful lives 424 123
non-current financial assets – financial asset write-downs not yet taxed 8,730 7,904
other non-current assets 27 58
12,007 10,559
Current assets
inventories – elimination of intercompany profits, differences in tax
measurement of manufacturing costs 2,435 2,008
trade receivables – differences in tax measurement of impairment losses 589 3,288
other current assets – severance payments not yet taxed 487 602
3,511 5,898
Non-current liabilities
non-current financial liabilities – lease liabilities 17 398
non-current provisions – different recognition of employee benefits provisions IAS 19 3,860 3,489
of which deferred taxes directly recognized in equity 452 335
other non-current liabilities 467 313
4,344 4,200
Current liabilities
current financial liabilities – lease financing 713 455
current provisions – different recognition provisions for guarantee expenses 1,970 1,596
trade payables and other current liabilities 1,269 706
3,952 2,757
Deferred tax liabilities
Non-current assets
23,814 23,414
intangible assets – acquisitions, development expenditure (16,086) (13,104)
property, plant and equipment – different useful lives (8,147) (8,001)
(24,233) (21,105)
Current assets
inventories – differences in tax measurement of manufacturing costs (224) (171)
trade receivables – contract manufacturing (POC) (322) (420)
other current assets – differences in tax measurement (762) (514)
of which deferred taxes directly recognized in equity 0 (21)
(1,308) (1,105)
Non-current liabilities
non-current financial liabilities – differences in tax measurement (96) (226)
non-current provisions (142) (42)
of which deferred taxes directly recognized in equity (12) (21)
(238) (268)
Current liabilities
current financial liabilities (5) (6)
current provisions – different recognition provisions for guarantee expenses (607) (466)
trade payables and other current liabilities (52) 0
(664) (472)
(26,443) (22,950)
Deferred tax assets on loss carry forwards 18,562 16,216
Deferred taxes 15,933 16,680
thereof
deferred tax assets 23,219 31,858
deferred tax liabilities (7,287) (15,178)
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palfinger Annual Report 2011