Today, Wavin - Jaarverslag.com

Wavin Annual Report 2010 | page 116Movement in temporary differences during the year(€ x 1,000) BALANCE AT1 JANUARY2010ACQUIREDTHROUGHBUSINESSCOMBINATIONSRECOGNISEDIN PROFITOR LOSSRECOGNISEDDIRECTLYIN EQUITYUSED FORPURPOSEEFFECT OFMOVEMENTSIN FOREIGNEXCHANGEBALANCE AT31 DECEMBERIntangible assets 81,957 – (2,150) 498 – 841 81,146Property, plant & equipment 29,770 – 683 106 – 310 30,869Financial assets 1,448 – (267) 36 – 22 1,239Inventories 314 – (240) – – (27) 47Other current assets (943) – (321) – – 5 (1,259)Tax losses carried forward (9,688) – (3,403) – 1,456 (238) (11,873)Provision for employee benefi ts (2,167) – 100 – – (48) (2,115)Other provisions (1,181) – (62) – – (26) (1,269)Interest-bearing loans and borrowings 133 – (136) – – (4) (7)Other liabilities (5,852) – 207 492 – (50) (5,203)Tax (assets) liabilities 93,791 – (5,589) 1,132 1,456 785 91,5752009Intangible assets 81,798 46 (1,032) – – 1,145 81,957Property, plant & equipment 32,575 15 (3,300) – – 480 29,770Financial assets (69) – 1,501 – – 16 1,448Inventories 366 – (40) – – (12) 314Other current assets (58) – (853) – – (32) (943)Tax losses carried forward (6,111) – (3,379) – 110 (308) (9,688)Provision for employee benefi ts (3,146) – 1,118 – – (139) (2,167)Other provisions (1,306) – 179 – – (54) (1,181)Interest-bearing loans and borrowings (143) – 277 – – (1) 133Other liabilities (5,363) – (36) (495) – 42 (5,852)Tax (assets) liabilities 98,543 61 (5,565) (495) 110 1,137 93,79122. Inventories(€ x 1,000) 2010 2009Raw materials and consumables 31,803 23,565Finished products and merchandise 130,625 113,551Other inventories 9,510 8,883Total 171,938 145,999Inventories stated at net realisable value 4,271 673At 31 December 2010 the provision for obsolete stocks amounts to € 16.0 million (2009: € 18.0 million). The addition to theprovision for obsolete stock amounted to € 0.3 million (2009: € 3.7 million), which was included in cost of sales. The provisionfor obsolete stock was used for purpose in the current year for the amount of € 2.7 million (2009: € 3.7 million). Higher rawmaterial prices compared to last year is the main reason for the increase of stock value. In addition stock levels were alignedto the increasing revenue level in some regions.The charge to the income statement is included in cost of sales. In 2010 raw materials, consumables and changes in fi nishedgoods recognised as cost of sales amounted to € 622.8 million (2009: € 555.6 million).