Corporate Magazine 2012 - Boehringer Ingelheim

4.8 Holding income(in millions of EUR) 2012 2011Write-offs on financial assets 0 — 31Income from related companies 3 0of which from affiliated companies 1 03 — 314.9 Taxes(in millions of EUR) 2012 2011Income taxes 602 630Deferred taxes — 100 — 63502 567Current income taxes essentially include the costs of corporation and trade tax for the companies includedin consolidation.As a result of the conclusion of profit transfer agreements, significant German corporations have been includedin the trade and corporation tax group of the parent company C. H. Boehringer Sohn AG & Co. KGsince 1 January 2004. As the income taxes of the shareholders of C. H. Boehringer Sohn AG & Co. KG incurredon operating income cannot be reported in the consolidated profit and loss statement, only thetrade income tax of the companies concerned and other fully consolidated German partnerships is shownas tax expenses.Total deferred tax assets amounted to EUR 1,543 million as of the balance sheet date. Deferred tax assetsessentially relate to the different carrying amounts of provisions, fixed assets and inventories. Deferred taxliabilities were recognised in the amount of EUR 287 million. They mainly relate to the differences in thecarrying amounts of tangible assets, inventories and provisions.4.10 Net incomeThe net income for 2012 was positively influenced by prior-period operating income (essentially from thereversal of other provisions) of EUR 211 million (previous year: EUR 166 million) and negatively influencedby prior-period operating expenses of EUR 148 million (previous year: EUR 99 million).60Boehringer Ingelheim annual report 2012