Annual Financial Statements 2011 of Bank Austria

Notes to the Financial Statements of UniCredit Bank Austria AG
5.11. Taxes on income
Pursuant to the provisions on group taxation in Section
9 of the Austrian Corporation Tax Act
(Körperschaftsteuergesetz – KStG), a group of
companies existed as at 31 December 2011 which
consisted of UniCredit Bank Austria AG as group
holding company and 43 companies as group
members (24 companies with profit and loss transfer
agreements and 19 companies with tax compensation
agreements) as well as three group members included
via joint control arrangements. The tax compensation
agreements provide for the application of the standalone
method. Under these agreements, the amount of
EUR 5,277,892.00 (2010: EUR 5,322 thsd) was
charged to individual companies in 2011.
As a result of the above-mentioned tax compensation
payments being charged to group members, the item
“Taxes on income” shows a net expense of
EUR 21,472,645.17 for the 2011 financial year (2010:
EUR 20,930 thsd).
5.12. Deferred tax
No use was made of the option to carry deferred taxes
as an asset.
In 2011, the amount of deferred taxes which may be
carried as an asset pursuant to Section 198 (10) of the
Austrian Business Code but is not separately shown in
the balance sheet and which will
probably reduce the tax charge in future years was
EUR 293,824,750.00 (2010: EUR 214,262 thsd).
5.13. Allocation to reserves
In the 2011 financial year, the amount of
EUR 16,597.00 (2010: EUR 21 thsd) was allocated
from the valuation reserve to the free reserve.
The amount of EUR 485,833,511.33 (2010: 0) was
released from the free reserve to cover the deficit for
the year.
6. Information on staff, Management
Board and Supervisory Board
6.1. Staff
The average number of salaried staff (full-time
equivalent) employed in 2011 was 6,655 (2010: 6,381)
and the average number of other employees was 0
(2010: 0).
6.2. Expenses for severance payments and
pensions
Expenses for severance payments and pensions relate
to the items “expenses for retirement benefits”,
“allocation to the pension provision” and “expenses for
severance payments and payments to severancepayment
funds”. In the 2011 financial year, allocations
and payments for members of the Management Board
and former members of the Management Board as
well as their surviving dependants totalled EUR
9,428,142.65 (2010: EUR 10,608 thsd); allocations
and payments for other employees
and their surviving dependants totalled
EUR 297,864,780.65 (2010: EUR 277,859 thsd). The
amounts include payments to pension funds
amounting to EUR 168,194.02 (2010: EUR 110 thsd)
for active members of the Management Board and
EUR 18,760.00 (2010: EUR 1,300 thsd) for former
members of the Management Board.
6.3. Emoluments of Management Board members
and Supervisory Board members
The emoluments paid in the 2011 financial year by
UniCredit Bank Austria AG to Management Board
members (excluding payments into pension funds)
totalled EUR 1,901,324.91 (comparable emoluments in
2010 totalled EUR 1,705 thsd). Of this total,
EUR 1,238,880.39 (2010: EUR 1,274 thsd) related to
fixed salary components and EUR 662,444.52 (2010:
EUR 431 thsd) related to variable salary components.
Several Management Board members receive their
emoluments from companies outside the Bank Austria
group of consolidated companies. These emoluments,
which Management Board members were granted for
activities in UniCredit Bank Austria AG and in group
companies in the 2011 financial year, amounted to
EUR 2,984,659.47 (2010: EUR 2,818 thsd). These
Management Board members also received
compensation for activities not associated with the
Bank Austria Group, but which are in the interest of
UniCredit Group.
Bank Austria – Annual Financial Statements 2011 233