Annual Report of ACS Group - Grupo ACS
Annual Report of ACS Group - Grupo ACS
Annual Report of ACS Group - Grupo ACS
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Thousands <strong>of</strong> euros<br />
Assets<br />
Balance at<br />
31 December<br />
2008<br />
Current<br />
movement<br />
Year<br />
Foreign<br />
currency<br />
Exchange<br />
differences<br />
Deferred tax assets and liabilities have not been <strong>of</strong>fset.<br />
Charge/<br />
credit to asset<br />
and liability<br />
revaluation<br />
reserve<br />
Charge/Credit<br />
to Equity<br />
Available-forsale<br />
fi nancial<br />
assets Others<br />
The composition <strong>of</strong> the balances <strong>of</strong> deferred taxes and advance payments at the period closing due to temporary differences<br />
are as follows:<br />
Deferred tax liabilities originating from assets recorded for an amount greater than their tax value are fundamentally due<br />
to the application <strong>of</strong> the unrestricted amortisation tax system, and its reduction in the period basically originates from the<br />
reclassifi cation <strong>of</strong> certain ownership interests, such as assets held for sale.<br />
In addition to the amounts recognised on the asset side <strong>of</strong> the statement <strong>of</strong> fi nancial position, as detailed in the table above,<br />
the <strong>Group</strong> has other deferred tax assets and tax loss and tax credit carryforwards not recognised on the asset side <strong>of</strong> the<br />
statement <strong>of</strong> fi nancial position because it is not possible to predict the corresponding future fl ows <strong>of</strong> pr<strong>of</strong>i ts, for insignifi cant<br />
amounts.<br />
The temporary differences arising in connection with investments in associates and interests in joint ventures are not<br />
material.<br />
141<br />
ECONOMIC AND FINANCIAL REPORT<br />
CONSOLIDATED FINANCIAL STATEMENTS<br />
Business<br />
combinations<br />
Acquisitions<br />
for<br />
the year<br />
Disposals<br />
for the year<br />
Balance at<br />
31 December<br />
2009<br />
For temporary differences 622,746 (2,357) 346 20,055 10,183 7,321 - (20,152) 638,142<br />
For fi scal losses 16,573 6,583 (1) 1,060 - - - (6,736) 17,479<br />
For tax credits 46,849 71,486 - - - - 1,524 (989) 118,870<br />
Liabilities<br />
Temporary differences 228,108 157,961 (2) 17,057 (49,920) 2,217 55,330 (39,635) 371,116<br />
Thousands <strong>of</strong> euros<br />
Deferred Tax Assets<br />
2010 2009<br />
Asset valuation adjustments and impairment losses 358,588 345,881<br />
Other provisions 119,068 98,778<br />
Pension costs 25,580 28,795<br />
Income with different tax and accounting accruals 92,315 109,853<br />
Business combinations 2,489 0<br />
Others 58,256 54,835<br />
Total 656,296 638,142<br />
Deferred Tax Liabilities<br />
Assets recognised at an amount higher than their tax base 167,417 297,576<br />
Income with different tax and accounting accruals 30,861 41,063<br />
Others 72,557 32,477<br />
Total 270,835 371,116
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