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NOTES / BALANCE SHEET
by active employees for disability and widows’ pensions. The full actuarially calculated obligation for pensions is
EUR 62.4 m (2003: EUR 56.6 m), of which entitlements amounting to EUR 38.3 m (2003: EUR 35.7 m) have been
transferred to the pension fund, resulting in provisions of EUR 24.1 m (2003: EUR 20.9).
As at 31 December 2004, other provisions included EUR 6.6 m retroactive purchase price adjustments in real estate
companies, EUR 2.4 m bonuses for participating in the preparation of the Balance Sheet and EUR 0.7 m auditing
and consulting expenses.
(44) Deferred tax assets and liabilities
Deferred tax assets and liabilities include taxes arising from temporary differences between the figures reported
under IFRS and the figures determined as taxable profits at the Group Companies. Deferred taxes arose in the following
items:
Deferred tax assets Deferred tax liabilities
in EUR m 31.12.2004 31.12.2003 31.12.2004 31.12.2003
Loans and advances to banks/customers 9 2 162 183
Financial investments 22 29 95 36
Property and equipment 0 1 0 0
Amounts owed to banks/customers 154 182 15 5
Provisions for personnel expenses 4 4 0 0
Other provisions 0 0 0 0
Risk provisions for loans and advances 0 0 0 0
Trading portfolio 0 0 0 0
Other items 72 12 3 14
Tax losses carried forward 18 17 0 0
Aggregate 279 247 274 238
Net 5 10
Deferred tax items were not formed for temporary differences in relation to shares in subsidiaries amounting to
EUR 72.1 m (2003: EUR 52.8 m) since the requirements under IAS 12.39 were satisfied.
(45) Other liabilities
in EUR m 31.12.2004 31.12.2003
Trading liabilities 157 134
Prepaid expenses 13 8
Leasing liabilities 0 0
Other liabilities 474 304
Aggregate 644 446
The trading liabilities include the negative fair values arising from derivative financial instruments amongst the open trading
positions. Deferred income mainly includes accruals of interest subsidies connected to the Top scheme. Other liabilities
include fair values arising from derivative financial instruments amounting to EUR 346.9 m (2003: EUR 278.6 m) as
well as tax liabilities of EUR 1.6 m (2003: EUR 2.9 m).
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