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<strong>METRO</strong> gROUP : ANNUAL REPORT 2011 : BUsiNEss → noTes : noTes To THe BalanCe sHeeT The carrying amounts of investments include €3 million (previous year: €2 million) in investments in four associated companies (previous year: four associated companies), which are recognised at equity. The sale of a fund investment resulted in a €38 million decline in the securities item. an additional €77 million of this fund investment was reclassified to current financial assets. → p. 213 23. Other receivables and assets Receivables due from suppliers comprise future compensation for suppliers (for example, bonuses, advertising). The item of prepaid expenses and deferred charges includes prorated rental, leasing and interest prepayments as well as other deferments. The other assets item essentially comprises receivables from credit card transactions in the amount of €132 million (previous year: €114 million), receivables from other financial transactions in the amount of €57 million (previous year: €108 million), assets for indirect commitments amounting to €131 million (previous year: €95 million) and other receivables and assets in the real estate area amounting to €72 million (previous year: €78 million). 31/12/2010 31/12/2011 Remaining term Remaining term Up to Over Up to Over € million Total 1 year 1 year Total 1 year 1 year Due from suppliers 1,560 1,558 2 1,705 1,704 1 other tax receivables 356 356 0 342 342 0 prepaid expenses and deferred charges 388 109 279 396 107 289 other assets 864 701 163 909 729 180 3,168 2,724 444 3,352 2,882 470
<strong>METRO</strong> gROUP : ANNUAL REPORT 2011 : BUsiNEss → noTes : noTes To THe BalanCe sHeeT 24. Deferred tax assets/deferred tax liabilities Deferred taxes on loss carry-forwards and temporary differences amount to €904 million, a decline of €96 million compared with the previous year. The carrying amount of deferred tax liabilities decreased to €157 million, €55 million lower than the previous year’s level. Deferred taxes recognised concern the following balance sheet items: In accordance with Ias 12, deferred taxes relating to differences between the carrying amount of a subsidiary’s pro rata assets and liabilities in the balance sheet and the invest ment book value for this subsidiary in the parent company’s tax statement must be created (so-called outside basis differences) if the tax benefit is likely to be realised in future. no deferred taxes were recognised for retained earnings of subsidiaries as these earnings will be reinvested over an inde finite period of time or are not subject to relevant tax ation. In the previous year, €6 million in deferred tax liabilities from outside basis differences were recognised for planned dividend payments. There were no circumstances leading to a corresponding accrual during the reporting year. For this reason, the deferred tax liabilities from outside basis differences were dissolved. 31/12/2010 31/12/2011 → p. 214 € million Asset Liability Asset Liability Goodwill 257 144 216 152 other intangible assets 131 25 106 57 Tangible assets and investment properties 156 671 206 692 Financial assets 7 8 12 1 Inventories 85 25 85 20 other receivables and assets 124 85 110 85 provisions for pensions and similar obligations 126 16 138 12 other provisions 101 11 101 11 Financial liabilities 417 5 483 4 other liabilities 158 65 158 81 outside basis differences 0 6 0 0 non-scheduled write-downs –40 0 –50 0 loss carry-forwards 327 0 297 0 Total 1,849 1,061 1,862 1,115 offset –849 –849 –958 –958 Book value of deferred taxes 1,000 212 904 157 no deferred taxes were created for the following tax loss carry-forwards and interest carried forward as well as temporary differences because a short-term realisation is not expected: € million 2010 2011 Corporate tax losses 6,488 6,886 Trade tax losses 6,839 7,153 Interest carried forward 6 40 Temporary differences 121 164 The losses primarily concern Germany. They can be carried forward without limitation.
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METRO gROup : ANNuAL REpORT 2011
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METRO gROUP : ANNUAL REPORT 2011
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sTRATEgy 1 METRO gROUP : ANNUAL REP
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METRO gROUP : ANNUAL REPORT 2011 :
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we recoGnISe And AdAPT To LocAL reQ
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wHAT SecUrInG GrowTH MeAnS For US:
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SUSTAInABLe TrAde. SUSTAInABLe Grow
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ASIA E F G H SALES EASTERN EUROPE (
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