Erste Bank JPMorgan Merrill Lynch International

11. TAX DEFERRALS
The deferred tax credits and liabilities indicated relate to the amounts of temporary differences in
balance sheet items listed in the following Table. (The differences were already valued using
applicable tax rates.) It should be noted that deferred taxes, as far as allowable, are settled at the
taxpayer level, and accordingly differing balances are shown either as assets or liabilities on the
balance sheet.
Detail
in EUR ’000
Deferred tax
assets
31.12.2006
Deferred tax
liabilities
31.12.2006
Deferred tax
assets
31.12.2005
Deferred tax
liabilities
31.12.2005
Intangible assets . . . . . . . . . . . . . . . . . . . . . . . . 5,571 129 5,120 130
Investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,355 236,445 7,399 255,958
Receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,429 1,271 1,425 1,066
Other assets and loss carryforward
adjustment. . . . . . . . . . . . . . . . . . . . . . . . . . . 4,557 2,954 4,606 3,689
Tax-free reserves . . . . . . . . . . . . . . . . . . . . . . . 0 62,918 0 63,150
Underwriting provisions . . . . . . . . . . . . . . . . . . . 124,200 22,589 128,566 22,531
Non-underwriting provisions . . . . . . . . . . . . . . . 76,051 9,026 84,776 14,611
Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,278 399 9,205 378
Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . 8,330 25 8,330 20
Total ................................. 237,771 335,756 249,427 361,533
Balance of deferred taxes. ............... 97,985 112,106
12. OTHER ASSETS
Detail
in EUR ’000
Property/
Casualty
31.12.2006
Life
31.12.2006
Health
31.12.2006
Total
31.12.2006
Total
31.12.2005
Tangible assets and inventories . . . . . . . . 48,428 13,891 0 62,319 56,475
Advance payments for projects . . . . . . . . 111 96 0 207 103
Tax prepayments . . . . . . . . . . . . . . . . . . . 65,343 22,453 0 87,796 69,495
Other assets . . . . . . . . . . . . . . . . . . . . . . 8,653 6,796 680 16,129 17,791
Prepaid expenses . . . . . . . . . . . . . . . . . . 34,596 22,893 118 57,607 56,842
Total ............................ 157,131 66,129 798 224,058 200,706
Maturities
in EUR ’000
31.12.2006 31.12.2005
up to one year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89,847 123,272
from one to five years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118,070 75,560
from five to ten years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,449 1,018
more than ten years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,692 856
Total ........................................................ 224,058 200,706
Changes in tangible assets and inventories
in EUR ’000
31.12.2006 31.12.2005
Acquisition costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169,692 173,149
Cumulative depreciation as of 31.12. of the previous year . . . . . . . . . . . . . . . �113,217 �115,290
Book value as of 31.12. of the previous year ....................... 56,475 57,859
Exchange rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,669 1,540
Book value as of 1.1. ......................................... 58,144 59,399
Additions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,530 23,188
Reductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . �12,346 �17,541
Change in scope of consolidation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,438 6,590
Scheduled depreciations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . �13,447 �15,161
Book value as of 31.12. ....................................... 62,319 56,475
Cumulative depreciation as of 31.12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130,136 113,217
Acquisition costs ............................................ 192,455 169,692
F-129