Annual Report 2002 - Agfa

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS MILLION EUROS 2002 2001 7. Interest income (expense) Income from other securities and loans included in investments 3 3 Other interest and similar income 44 31 Interest and similar expenses (87) (97) TOTAL (40) (63) MILLION EUROS 2002 2001 8. Other non-operating income (expense) Interest portion of interest-bearing provisions (45) (43) Exchange gains (losses) (11) 1 Revaluation losses on financial instruments (4) (5) Write-downs/impairment losses on other investments (1) (5) Result on sale of investments in affiliated companies - 2 Miscellaneous non-operating income (expenses) 4 (7) TOTAL (57) (57) The interest portion of interest-bearing provisions primarily comprises the allocation of interest on provisions for personnel commitments, pensions and other post-employment benefits. Recognized in the income statement 9. Income taxes MILLION EUROS 2002 2001 Current tax expense (70) (17) Deferred tax expense/income (29) 150 Total income tax expense/income in income statement (99) 133 Agfa annual report 2002 60
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 9. Income taxes continued Relationship between tax expense and accounting profit Summary 2002 MILLION EUROS Basis for tax computation Tax expense/ tax income Tax rate Accounting profit before tax and before consolidation entries 308 96 31.17% Consolidation entries (mainly related to intercompany dividends) (12) 3 Accounting profit before tax 296 99 33.45% Reconciliation of effective tax rate MILLION EUROS Before consolidation entries Consolidation entries After consolidation entries Accounting profit before tax 308 (12) 296 Theoretical income tax expense 133 3 136 Theoretical tax rate (*) 43.18% Disallowed items 10 10 Amortization goodwill not deductible for tax purposes 8 8 Impact of special tax status: Belgian co-ordination center (26) (26) Other tax free income: mainly related to dividend exemption (10) (10) Tax credit resulting from investment deduction (6) (6) Tax losses used for which no deferred tax asset had been recorded (28) (28) Tax losses for which no deferred tax asset has been recorded 5 5 Tax expense due to reversal of deferred tax assets on tax losses from previous years 4 4 Tax benefit resulting from tax deductible write-downs on investments (15) (15) Impact decrease tax rates on net deferred tax assets 8 8 Currency effect hyperinflationary economies 10 10 Impact of temporary differences 3 3 Actual income tax expense 96 3 99 Effective tax rate 33.45% (*) The theoretical tax rate is the weighted average tax rate of the Company and all subsidiaries included in the consolidation. 61 Agfa annual report 2002
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annual report 2002
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Share of Group Sales 2002 BY BUSINE
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Letter to the shareholders Dear sha
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Board of Management (February 25, 2
Page 9 and 10: Group Sales 2002 MILLION EUROS Sale
Page 11 and 12: Key Figures Balance sheet (MILLION
Page 13 and 14: Operating Cash Flow (MILLION EUROS)
Page 15 and 16: ” Working with Quebecor on the De
Page 17 and 18: ” Together with colleagues from H
Page 19 and 20: ” We do not have to persuade our
Page 21 and 22: ” We are now able to completely i
Page 23 and 24: ” I love it when a customer asks
Page 25 and 26: ” I feel proud that each year my
Page 27 and 28: ” Many photographers who switched
Page 29 and 30: ” The great success of our new di
Page 31 and 32: Corporate Governance Apart from the
Page 33 and 34: CORPORATE GOVERNANCE Mr Chaffart re
Page 35 and 36: Agfa-Gevaert Group Financial Statem
Page 37 and 38: AGFA-GEVAERT GROUP CONSOLIDATED STA
Page 41 and 42: NOTES TO THE CONSOLIDATED FINANCIAL
Page 59: NOTES TO THE CONSOLIDATED FINANCIAL
Page 89 and 90: SUMMARY VERSION OF STATUTORY ACCOUN
Page 91 and 92: SUMMARY VERSION OF STATUTORY ACCOUN
Page 93 and 94: Glossary The words explained in thi
Page 95 and 96: PET film PET is an abbreviation for
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Annual Report 2002 - Agfa

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