MD&A and Financial Statements (PDF) - Banco Itaú

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III- Tax effects on foreign exchange management of investments abroad In order to minimize the effects on income in connection with the foreign exchange variation on investments abroad, net of respective tax effects, ITAÚ UNIBANCO HOLDING carries out derivative transactions in foreign currency (hedge), as mentioned in Note 22b. Results of these transactions are considered in the calculation basis of income tax and social contribution, according to their nature, while the foreign exchange variation on investments abroad is not included therein, pursuant to tax legislation in force. Itaú Unibanco S.A. – - September0, 2010 130
Itaú Unibanco S.A. – - September0, 2010 131 b) Deferred taxes I - 25,911,438 (5,980,777) 6,480,254 26,410,915 27,339,252 2,989,576 (332,163) 1,519,463 4,176,876 3,658,757 8,985,851 (2,840,142) 3,474,657 9,620,366 8,348,603 7,827,348 (2,524,736) 3,230,706 8,533,318 7,156,709 104,543 (104,543) 101,318 101,318 172,052 81,012 (15,700) 49,546 114,858 73,549 771,874 (143,893) 69,129 697,110 731,319 201,074 (51,270) 23,958 173,762 214,974 35,613,237 45,482,066 13,936,011 (2,808,472) 1,486,134 12,613,673 15,331,892 29,509,237 39,378,066 11,860,651 (2,808,472) 1,486,134 10,538,313 13,113,884 2,665,151 7,621,644 1,989,617 (660,937) 18,582 1,347,262 2,415,394 Provision for contingent liabilities 6,569,569 7,355,899 2,344,558 (424,632) 522,422 2,442,348 2,715,904 Civil 2,647,856 2,311,990 899,984 (284,740) 413,208 1,028,452 903,373 Labor 2,278,537 2,215,595 843,564 (27,466) 37,249 853,347 835,734 Tax and social security 1,500,398 2,562,528 495,553 (62,719) 71,965 504,799 871,260 Other 142,778 265,786 105,457 (49,707) - 55,750 105,537 164,844 55,800 28,628 (411) 36,241 64,458 15,346 13,868,124 17,441,924 5,721,535 (1,006,373) - 4,715,162 5,930,254 367,544 978,978 286,806 (161,841) - 124,965 332,852 603,841 540,808 238,396 - 3,141 241,537 216,323 5,270,164 5,383,013 1,251,111 (554,278) 905,748 1,602,581 1,487,811 6,104,000 6,104,000 2,075,360 - - 2,075,360 2,218,008 436,756 219,080 72,677 (22,521) 112,549 162,705 87,632 Total 36,049,993 45,701,146 25,984,115 (6,003,298) 6,592,803 26,573,620 27,426,884 (*) The deferred tax asset balance and its changes, segregated based on its origin and disbursements incurred, are represented as follows: Reflected in income and expense accounts Related to income tax and social contribution loss carryforwards Related to disbursed provisions Allowance for loan losses Adjustment to market value of securities and derivative financial instruments (assets/liabilities) Allowance for real estate Goodwill on purchase of investments Other Related to non-disbursed provisions (*) Related to the operation Legal liabilities – tax and social security Adjustments from operations in futures settlement market Goodwill on purchase of investments Provision for integration expenditures with ITAÚ UNIBANCO merger Provision related to health insurance operations Other non-deductible provisions Related to additional provisions exceeding the minimum required not disbursed – allowance for loan losses Reflected in stockholders’ equity accounts – adjustment to market value of available-for-sale securities (Note 2b) Social contribution for offset arising from Option foreseen in article 8 of Provisional Measure No. 2,158-35 of 08/24/2001 PROVISIONS DEFERRED TAX ASSETS 09/30/2010 09/30/2009 12/31/2009 Realization / Reversal Increase 09/30/2010 09/30/2009 - 933,723 (82,090) - 851,633 955,427 From a financial point of view, rather than recording the provision of R$ 35,613,237 (R$ 45,482,066 at 09/30/2009) and deferred tax assets of R$ 12,613,673 (R$ 15,331,892 at 09/30/2009), only the net provisions of the corresponding tax effects should be considered, which would reduce the total deferred tax assets from R$ 26,573,620 (R$ 27,426,884 at 09/30/2009) to R$ 13,959,947 (R$ 12,094,992 at 09/30/2009). At ITAÚ UNIBANCO HOLDING, the deferred tax assets totaled R$ 953,492 (R$ 836,564 at 09/30/2009) and are basically represented by tax losses and social contribution loss carryforwards of R$ 795,195 (R$ 768,911 at 09/30/2009), which expected realization is up to one year.
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3 rd Quarter 2010 Management Discus
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ITAÚ UNIBANCO HOLDING S.A. RESULTS
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3 rd quarter, 2010 Management Discu
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Executive Summary Third Quarter of
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Executive Summary NPL Ratio over 90
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Analysis of the Net Income Manageri
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Analysis of the Net Income Results
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Analysis of the Net Income Non-inte
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Analysis of the Net Income Itaú Un
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Balance Sheet Balance Sheet by Curr
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Balance Sheet Credit Portfolio by P
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Balance Sheet Itaú Unibanco Holdin
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Value at Risk (VaR) The table below
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Performance in the Stock Market 3 r
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Pro Forma Financial Statements by S
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Insurance, Pension Plans and Capita
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Insurance, Pension Plans and Capita
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Activities Abroad
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Activities Abroad Europe Banking ac
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Activities Abroad Below we present
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PricewaterhouseCoopers Av. Francisc
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MANAGEMENT REPORT - January to Sept
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BUSINESS PERFORMANCE We present bel
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• The team of analysts of Itaú C
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ITAÚ UNIBANCO HOLDING S.A. BOARD O
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BANCO ITAÚ BBA S.A. BOARD OF DIREC
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ITAÚ UNIBANCO HOLDING S.A. Consoli
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ITAÚ UNIBANCO HOLDING S.A. Consoli
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ITAÚ UNIBANCO HOLDING S.A. Balance
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Itaú Unibanco S.A. - - September0
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ITAÚ UNIBANCO HOLDING S.A. Stateme
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NOTE 2 - PRESENTATION OF THE FINANC
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The consolidated financial statemen
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The Referential Equity used for cal
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) Capital for Insurance Activity SU
Page 83 and 84: • Cash Flow Hedge - the effective
Page 85 and 86: • Mathematical provisions for ben
Page 87 and 88: NOTE 5 - CASH AND CASH EQUIVALENTS
Page 89 and 90: Itaú Unibanco S.A. - - September0
Page 95 and 96: I - Derivatives by index Memorandum
Page 101 and 102: V - Accounting hedge a) The purpose
Page 103 and 104: i) Changes in adjustment to market
Page 107 and 108: III - By business sector 09/30/2010
Page 109 and 110: d) Recovery and renegotiation of cr
Page 111 and 112: NOTE 9 - FOREIGN EXCHANGE PORTFOLIO
Page 119 and 120: NOTE 12 - CONTINGENT ASSETS AND LIA
Page 121 and 122: - Contingencies classified as possi
Page 123 and 124: c) Legal Liabilities - Tax and Soci
Page 125 and 126: The main natures of processes are d
Page 127 and 128: ) Prepaid expenses Commissions 09/3
Page 129 and 130: d) Banking service fees 01/01 to 09
Page 131 and 132: f) Personnel expenses Compensation
Page 133: NOTE 14 - TAXES a) Composition of e
Page 137 and 138: III- The estimate of realization an
Page 139 and 140: d) Taxes paid or provided for and w
Page 141 and 142: II - Composition of investments 09/
Page 143 and 144: NOTE 16 - STOCKHOLDERS’ EQUITY a)
Page 145 and 146: c) Capital and revenue reserves 09/
Page 147 and 148: f) Stock Option Plan I - Purpose an
Page 149 and 150: III - Fair Value and Economic Assum
Page 151 and 152: NOTE 17 - RELATED PARTIES a) Transa
Page 155 and 156: NOTE 19 - BENEFITS TO EMPLOYEES Und
Page 159 and 160: In accordance with the operations c
Page 161 and 162: Analogous to Basel II, the Internat
Page 163 and 164: e) Fundação Itaú Social - ITAÚ
Page 165 and 166: Report of Independent Auditors To t
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