Annual Report 2011 (5.07 MB, PDF-File) - Oerlikon

Key Figures Group Notes OC Oerlikon Corporation AG, Pfäffikon
Income taxes
Notes to the consolidated financial statements
in CHF million 2011 2010
Current income tax expense –78 –38
Deferred tax expense (–)/income (+) –13 50
Total –91 12
Analysis of tax expense
in CHF million 2011 2010
Result before taxes 315 –7
Tax expense (–)/income (+) –91 12
Expected tax expense (–)/income (+) 1 –86 2
Difference between actual and expected tax expense (–)/income (+) –5 10
The difference between the tax expense calculated using the weighted average tax rate of Oerlikon Group (expected tax expense) of
27.4 % (previous year tax income: 28.9 %) and the effective tax expense (previous year: tax income) arises from the following factors:
Non-taxable income and expenses 1 –22
Unrecognized deferred taxes on current-year losses –12 –20
Non-refundable withholding tax –9 –8
Utilization of unrecognized tax loss carry forwards from previous periods 3 2
Tax expense (–)/income (+) from prior periods –1 7
Recognition of previously not recognized tax losses 8 45
Other effects 5 6
Total –5 10
1 The expected tax expense (prior year: tax income) is calculated from the various profits and losses of the individual companies, using local tax
rates. From these a composite tax rate is developed, averaged over the whole Group.
Note 5
103