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

104
Deferred taxes
Key Figures Group Notes OC Oerlikon Corporation AG, Pfäffikon
Notes to the consolidated financial statements
Composition of deferred taxes 2011 2010
Deferred tax balances Deferred tax balances
in CHF million Assets Liabilities Assets Liabilities
Trade accounts receivable 4 2 1 1
Other receivables and accruals 2 26 3 10
Inventories 44 1 35 1
Financial assets 1 1 1 2
Property, plant and equipment 20 54 16 57
Intangible assets 3 111 4 114
Assets 74 195 60 185
Other current and long-term liabilities 11 18 8 18
Financial liabilities 7 1 5 2
Provisions 97 4 82 4
Liabilities 115 23 95 24
Deferred tax asset from recognized tax loss carry forwards 1 67 – 90 –
Netting –145 –145 –132 –132
Total 111 73 113 77
1 In 2011 tax loss carry forwards of CHF 380 million for federal taxes and CHF 128 million for state/local taxes were recognized (previous year:
CHF 483 for federal taxes and CHF 220 million for state/local taxes).
Tax income of CHF 14 million (previous year: CHF 21 million) has been recognized in other comprehensive income.
Utilization of tax loss carry forwards is limited as follows:
in CHF million
Tax losses not
recognized as
deferred tax assets
Total tax loss
carry forwards
federal tax state/local tax federal tax state/local tax
1 year 4 4 4 4
2 years 7 2 10 6
3 years 5 4 7 4
4 years 40 45 53 45
5 years 18 2 188 16
over 5 years 440 356 632 466
Total 514 413 894 541
Compared to previous year tax loss carry forwards not recognized increased moderately (increase of CHF 8 million for federal taxes and
CHF 67 million for state/local taxes). This was mainly caused by companies which generate non-recognizable losses.
The deferred tax on unrecognized tax loss carry forwards would amount to CHF 90 million in 2011 (previous year: CHF 92 million).
Note 5 (cont.)