Towards Operational Excellence and Financial Sustainability

These consolidated fi nancial statements are originally issued in Indonesian language.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years ended December 31, 2004 and 2003
(Expressed in rupiah, unless otherwise stated)
Deferred Tax
Benefit (Expense)
Credited (Charged) to
2003 2004 Profit and Loss 2004
Net Deferred Tax Assets:
Company 3,926,206,645 (3,926,206,645) -
Subsidiaries 3,352,260,121 841,306,096 4,193,566,217
Net 7,278,466,766 (3,084,900,549) 4,193,566,217
Net Deferred Tax Liabilities:
Company - (61,494,499,224) (61,494,499,224)
Subsidiaries (290,799,555) 290,799,555 -
Net (290,799,555) (61,203,699,669) (61,494,499,224)
Deferred Tax
Benefit (Expense)
Credited (Charged) to
2002 2003 Profit and Loss 2003
Deferred Tax Assets:
Company
Tax loss carryforward 743,467,855,700 (235,653,864,839) 507,813,990,861
Allowance for doubtful accounts and
inventory losses 3,840,880,835 7,767,432,169 11,608,313,004
Estimated liability for employee benefits - 4,909,405,499 4,909,405,499
Reserve for recultivation - 1,745,367,302 1,745,367,302
Others - 833,851,800 833,851,800
Sub-total 747,308,736,535 (220,397,808,069) 526,910,928,466
Subsidiaries 3,308,435,496 351,190,239 3,659,625,735
Total 750,617,172,031 (220,046,617,830) 530,570,554,201
Deferred Tax Liabilities:
Company
Difference in net book value of fixed
assets between tax base and
accounting base (434,538,135,849) (88,446,585,972) (522,984,721,821)
Subsidiaries - (598,165,169) (598,165,169)
Total (434,538,135,849) (89,044,751,141) (523,582,886,990)
Net Deferred Tax Assets:
Company 312,770,600,686 (308,844,394,041) 3,926,206,645
Subsidiaries 3,388,824,434 (36,564,313) 3,352,260,121
Net 316,159,425,120 (308,880,958,354) 7,278,466,766
Net Deferred Liabilities:
Subsidiaries - (290,799,555) (290,799,555)
Management believes that the above deferred tax assets can be fully recovered in future periods.
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Indocement Annual Report 2004