Annual Financial Statements 2011 of Bank Austria

Consolidated Financial Statements in accordance with IFRSs
C – Notes to the statement of financial position (CoNTINuED)
C.13 – Tax assets (€ m)
31 dec. 2011 31 dec. 2010
deferred tax assets related to:
Assets/liabilities held for trading 52 46
Other financial instruments 66 71
Property, plant and equipment/intangible assets 33 17
Provisions 453 446
Write-downs on loans 76 69
Other assets/liabilities 153 32
Loans and receivables with banks and customers 10 39
Tax losses carried forward 247 269
Other 18 17
tOtal 1,107 1,006
In 2011, deferred taxes were also recognised directly in equity. € 52 m (2010: € 20 m) was credited to the available-for-sale reserve and € 86 m
(2010: € 24 m) was debited to the cash flow hedge reserve.
In addition, as actuarial gains and losses on pension and severance-payment obligations were not recognised in income in the reporting year, deferred tax
assets of € 28 m (2010: € 63 m) were offset against equity in UniCredit Bank Austria AG.
As a result of the first-time consolidation of the subsidiaries referred to in section A.7, and of foreign currency translation of deferred taxes and direct
offsetting against reserves, part of the change in deferred taxes was not reflected in the expense in 2011.
The assets include deferred tax assets arising from the carryforward of unused tax losses in the amount of € 247 m (2010: € 269 m). Most of the tax
losses carried forward can be used without time restriction.
In respect of tax losses carried forward in the amount of € 739 m (2010: € 585 m), no deferred tax assets were recognised because, from a current
perspective, a tax benefit is unlikely to be realised within a reasonable period.
C.14 – Non-current assets and disposal groups classified as held for sale (€ m)
31 dec. 2011 31 dec. 2010
individual assets
Financial assets – –
Equity investments – –
Property, plant and equipment 55 2
Intangible assets – –
Other non-current assets – –
total 55 2
asset groups classified as held for sale – –
assets 55 2
This item includes the UNO Shoppingcenter, Linz, which is intended to be repositioned and sold in cooperation with a strategic partner.
Negotiations are currently under way in this regard and should be completed within a year.
New office buildings were constructed for UniCredit Bank Czech Republic a.s. in Prague. The bank has already relocated to the new buildings.
The office buildings used by the bank so far are intended to be sold.
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