Annual Report 2002 - Agfa

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
9. Income taxes
continued
Deferred tax assets and liabilities
Deferred tax assets and liabilities are attributable to the following items:
MILLION EUROS DECEMBER 31, 2002 DECEMBER 31, 2001
Assets Liabilities
Net Assets Liabilities
Net
Intangible assets 65 9 56 50 13 37
Property, plant and equipment 1 92 (91) 2 96 (94)
Investments 1 - 1 - - -
Inventories 48 15 33 64 17 47
Receivables 35 7 28 13 16 (3)
Provisions 97 4 93 117 3 114
Employee benefit plans 62 42 20 61 39 22
Other current assets & other liabilities 55 51 4 27 29 (2)
Deferred tax assets and liabilities related to temporary differences 364 220 144 334 213 121
Tax loss carry-forwards 46 - 46 113 - 113
Excess tax credits 22 - 22 23 - 23
Deferred tax assets/liabilities 432 220 212 470 213 257
Set off of tax (164) (164) - (182) (182) -
Net tax assets/liabilities 268 56 212 288 31 257
Unrecognized deferred tax assets
Deferred tax assets have not been recognized in respect of ‘tax loss carry-forwards’ for an amount of 10 million Euros
(2001: 47 million Euros) because it is not probable that future taxable profit will be available against which the Group can
utilize the benefits therefrom.
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Agfa annual report 2002