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CONSOLIDATED FINANCIALSTATEMENTS
BarryCallebaut
Annual Report2010/11
Recognized deferred tax assets and liabilities
The recognized deferred tax assets and liabilities,without taking into consideration the offsetting
of balances within the same tax jurisdiction, areattributable to the following:
as of August 31, 2011 2010
in thousands of CHF Assets Liabilities Net Assets Liabilities Net
Inventories 1,693 (6,913) (5,220) 5,077 (7,121) (2,044)
Property,plant&equipment/intangible assets 46,330 (42,555) 3,775 14,344 (63,083) (48,739)
Other assets 4,917 (20,424) (15,507) 7,746 (19,895) (12,149)
Provisions 1,323 – 1,323 1,176 (31) 1,145
Other liabilities 15,389 (12,308) 3,081 19,690 (10,222) 9,468
Taxloss carry-forwards 39,167 – 39,167 44,959 – 44,959
Taxassets/(liabilities) 108,819 (82,200) 26,619 92,992 (100,352) (7,360)
Set-off of tax (32,095) 32,095 – (41,631) 41,631 –
Reflected in the balancesheet 76,724 (50,105) 26,619 51,361 (58,721) (7,360)
Taxlosses carried forwardexcluded from recognition of related deferred tax assets
Taxlosses carried forward not recognized as deferred tax assets have the following expiry
dates:
as of August 31, 2011 2010
in thousands of CHF
Expiry
Within 1year 1,795 189
After 1upto2years 2,013 1,549
After 2upto3years 3,676 2,396
After 3upto10years 46,038 58,716
After 10 years 170,461 213,353
Unlimited 1 143,250 284,981
Total unrecognized tax losses carried forward 1 367,233 561,184
1 These amounts in fiscal year 2010/11 exclude unrecognized tax losses carried forward
related to the discontinued operations in the amount of CHF 210.7 million
Taxlosses carried forwardare assessed for futurerecoverability based on business plans and
projections of the related companies.Those arecapitalized only if the usage within amedium
period is probable.
Tax losses carried forward utilized during the year 2010/11 were CHF 13.4 million
(2009/10: CHF 41.7 million). The related tax relief amounted to CHF 3.6 million, of which
CHF 2.6 million were already recognized as a deferred tax asset in the year before
(2009/10: CHF 12.8 million of which CHF 8.2 million were already recognized as adeferred
tax asset in the year before).
As of August 31, 2011, the Group had unutilized tax losses carried forwardofapproximately
CHF 756.7 million (of which CHF 210.7 million related to the discontinued operations;
August 31, 2010: CHF 711.5 million) available for offset against future taxable income.
Of the total tax losses carried forward, an amount of CHF 178.7 million has been recognized
for deferred taxation purposes resulting in a deferred tax asset of CHF 48.2 million
(2009/10: CHF 150.3 million recognized resulting in adeferred tax asset of CHF 45.0 million).
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