Annual report 2010 - Dexia.com

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Notes to the consolidated financial statements9.2. Deferred taxesManagement reportConsolidatedfinancial statementsAdditional information Annual financial statementsA. Analysis31/12/09 31/12/10Net deferred income tax assets/(liabilities) 2,688 2,677Deferred income tax liabilities (31) (33)Deferred income tax assets 4,302 5,700Deferred tax 4,271 5,667Unrecognized deferred tax assets (1,583) (2,990)B. Movements2009 2010As at 1 Jan. 3,908 2,688Movements of the year:- Amounts recognised in the statement of income (1) 107 (27)- Items directly computed by equity (1,297) (10)- Changes in consolidation scope 0 (12)- Exchange differences (31) 109- Other movements 1 (70)As at 31 Dec. 2,688 2,677(1) In 2009, the movements of the deferred tax income of the Insurance activity of FSA Holdings during the first quarter of 2009 are recorded in “Non currentassets held for sale“. As a consequence, an amount of 184 million, included in the statement of income is not recorded on this line (see note 11.15).In 2010, an amount of USD 35 million of deferred tax assets was recognised on temporary differences on the Financial Products portfolio.Deferred tax coming from assets of31/12/09 31/12/10the balance sheetTotal o/w impact inresultTotal o/w impact inresultCash, loans and loan loss provisions (1,549) 541 (2,800) (1,255)Securities 1,177 659 2,000 174Derivatives (1,686) 372 (3,718) (1,994)Tangible and intangible fixed assets (181) (7) (200) (9)Other assets specific to insurancecompanies 0 (1) (1) (1)Other 13 0 31 10Total (2,226) 1,564 (4,688) (3,074)Deferred tax coming from liabilities of31/12/09 31/12/10the balance sheetTotal o/w impact inresultTotal o/w impact inresultDerivatives 3,771 (767) 6,756 2,912Borrowings, deposits and issuance ofdebt securities 933 (333) 1,285 344Provisions 98 0 84 (18)Pensions 113 (1) 108 (4)Other liabilities specific to insurancecompanies (5) 28 3 7Legal tax free provisions (114) (2) (105) 9Other 129 7 151 112Total 4,925 (1,068) 8,282 3,362176 Dexia Annual report 2010
Notes to the consolidated financial statementsDeferred tax coming from other elements 31/12/09 31/12/10Totalo/w impact inresultTotalo/w impact inresultTax losses carried forward 1,665 (136) 2,153 369Tax credit carried forward 17 11 1 (17)Entities with special tax status (110) 51 (82) 28Total 1,572 (74) 2,073 380Total deferred tax 4,271 5,667C. Expiry date of unrecognised deferred tax assetsNatureLess than 1yearBetween 1 to 5years31/12/09Over 5 yearsUnlimitedmaturityTemporary difference 0 0 0 (1,220) (1,220)Tax losses carried forward (6) (4) (194) (143) (347)Tax credit carried forward 0 0 (16) 0 (16)Total (6) (4) (210) (1,363) (1,583)NatureLess than 1yearBetween 1 to5 years31/12/10Over 5 yearsUnlimitedmaturityTemporary difference 0 0 0 (1,206) (1,206)Tax losses carried forward (4) (131) (1,457) (190) (1,782)Tax credit carried forward 0 (1) 0 0 (1)Total (4) (132) (1,457) (1,396) (2,989)TotalTotalManagement reportConsolidatedfinancial statementsAdditional information Annual financial statementsAnnual report 2010 Dexia177
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4 Group profile8 Message from the c
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Group profileManagement reportConso
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Group profileRESULTS Dexia GAAP IFR
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Message from the ChairmenManagement
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2010 and early 2011 highlightsManag
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2010 and early 2011 highlightsDecem
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Update on the transformation planMa
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Update on the transformation planMa
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StrategyManagement reportConsolidat
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Declaration of corporategovernanceM
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Declaration of corporate governance
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Shareholder informationManagement r
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Human ResourcesMEMBERS OF STAFFGEND
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Human ResourcesFinally, questions r
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Sustainable developmentEnergy perfo
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Capital managementManagement report
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Capital managementEconomic capitalE
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Financial resultsConsolidated state
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Financial resultsManagement reportC
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C o n s o l i d a t e d f i n a n c
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Liabilities Note 31/12/09 31/12/10(
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Consolidated statementof changes in
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Dexia saStatutory Auditor's reporto
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Statement of incomeManagement repor
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Additional informationManagement re
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Photographs: page 8: C. LEBEDINSKY/
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Annual report 2010 - Dexia.com

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