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B Consolidated Annual Financial Statements/Notes V. Notes to the Consolidated Financial Statements of Salzgitter AG 254 255
(26) Income Tax Assets
The income tax assets of € 114.2 million that existed as of December 31, 2007 (2006: € 23.9 million)
relate essentially to income tax claims by a domestic Group company. These are offset by non-current
income tax liabilities of € 214.2 million (2006: € 170.7 million) and current income tax liabilities of
€ 19.7 million (2006: € 49.1 million).
These assets are set off against tax liabilities if there is an enforceable right to set off the reported
amounts against each other and the intention is to offset them in net terms. The prerequisites for this
are that the tax refund claim (asset) and the tax liability both relate to the same tax authority and that
the tax authority allows their offsetting.
(27) Securities, Cash and Cash Equivalents
Shares as short-term investments which are assigned to the category “financial assets held for trading”
are reported under securities.
Cash and cash equivalents consist of the following:
in T€ 31/12/2007 31/12/2006
Cash at banks 2,133,468 2,184,962
Current investments – 147,089
Checks, cash in hand 5,355 12,938
Cash and cash equivalents 2,138,823 2,344,989
(28) Non-current Assets held for Sale
The non-current asset held for sale amounting to € 12.6 million in the previous year resulted entirely
from the reclassification of the shareholding in the French company Ets. Robert et Cie S.A.S., which
in 2005 had still been consolidated proportionately. The shareholding in Ets. Robert et Cie S.A.S.
was reported as held for sale following a management resolution in November 2006. The sale was
concluded at the end of January 2007. The sale resulted in a profit of € 1.4 million. No assets were
reported in this balance sheet item as of December 31, 2007.
Consolidated Annual
Financial Statements