GB00_erste lage_E - Erste Group

2000 CONSOLIDATED FIANCIAL STATEMENTS ACCORDING TO IAS
All employee benefits (pension and severance payment obligations plus anniversary bonuses) are
calculated in accordance with the 1999 mortality charts AVÖ 1999 P—Rechnungsgrundlagen für
die Pensionsversicherung—Pagler & Pagler, which reflect the increased average life expectancy.
Other provisions are made for contingent liabilities payable to outside parties in the amount of
the anticipated utilisation of benefits.
11) Taxes on income—deferred taxes
Taxes on income are reported and calculated in conformity with IAS 12.
Assets and liabilities stemming from taxes on income are included in the items other assets
and provisions. Deferred tax assets and liabilities are stated at the tax rates at which it is expected
that the taxes will be paid to or credited by the respective tax authorities.
In calculating deferred taxes, the liability method based on temporary differences is used,
which compares the amounts stated for assets and liabilities in the Balance Sheet with the
amounts used in the taxation of the respective Group company. Variances in these amounts lead
to temporary differences in value, for which deferred tax assets or deferred tax liabilities are to
be reported regardless of when such differences cease to exist. The deferred taxes for the
various Group companies are calculated at the country-specific future tax rates to be applied. The
deferred tax assets and deferred tax liabilities of any one company are netted if the same tax
office collects the taxes on income.
A deferred tax asset for unused tax losses is recognised if it is likely that the same company
will generate taxable profits in periods for which the unused tax losses can be utilised. Deferred
taxes are not discounted.
12) Cash and balances with central banks
in EUR million 2000 1999
Cash in hand 654 284
Balances with central banks 492 656
Total 1,146 940
82 Erste Bank 2000
Information on the
Group Balance Sheet