Annual report 2008 - Altarea Cogedim

CONSOLIDATED FINANCIAL STATEMENTS
n Deferred tax assets and liabilities
(in € thousand)
Tax losses
and
tax credits
Valuation
differences
Fair value of
investment
propertie
Fair value
of financial
instruments
Other timing
differences
Total
At 01 janvier 2007 (2,723) (4,040) (13,319) (5,506) 2,000 (23,588)
Expense (income) - SIIC (643) – – 2,610 (74) 1,893
Expense (income) - non SIIC 3,304 8,926 (16,249) (2,027) (4,291) (10 337)
Expense (income) recognised in the income statement 2,661 8,926 (16,249) 583 (4,365) (8 444)
Deferred taxes recognised in equity – – – – (2,572) (2 572)
Other changes – 0 – 0 – 0
Change in scope of consolidation – (85,445) – (792) (12,256) (98,494)
Change of accounting method 0 0 0 – 0 0
At 31 december 2007 (62) (80,559) (29,568) (5,715) (17,193) (133,098)
Expense (income) - SIIC – – – 806 2,786 3,592
Expense (income) - non SIIC 88,357 43,845 12,228 16,142 9,287 169,860
Expense (income) recognised in the income statement 88,357 43,845 12,228 16,949 12,073 173,452
Deferred taxes recognised in equity – – – – (3,138) (3,138)
Other changes 6,362 38 (0) 477 (6,876) (0)
Change in scope of consolidation – (4,234) (0) (0) 192 (4,042)
Change of accounting method 0 0 0 – 0 0
At 31 december 2008 94,657 (40,910) (17,340) 11,710 (14,942) 33,174
Deffered tax asset Deffered tax liability Not deffered tax
At 31 december 2007 578 133,676 (133,098)
At 31 december 2008 63,682 30,508 33,174
Deferred taxes recognised in equity relate to the stock option and stock grant plans expensed under staff costs with a
corresponding adjustment to equity in accordance with IFRS 2 and the cancellation of gains and losses arising on sales of
treasury shares.
The changes in the scope of consolidation related principally during 2008 to deferred tax liabilities arising on the valuation
differences upon the first-time consolidation of Altapinerolo1 (€4 million) and during 2007 to deferred tax liabilities arising
on the valuation differences upon the first-time consolidation of Cogedim (€85 million).
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