Amadeus IT Holding, S.A. and Subsidiaries - Investor relations at ...

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AMADEUS IT HOLDING, S.A. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED ANNUAL ACCOUNTS FOR THE YEARS ENDED DECEMBER 31, 2011, AND 2010 (EXPRESSED IN THOUSANDS OF EUROS - KEUR) The Group’s deferred tax balances as of December 31, 2010 are set forth as follows: Assets 01/01/2010 Net charged to income statement 99 Net charged to income statement discontinued operations Charged to equity Reclassified as assets held for sale Translation changes 31/12/2010 Amadeus Operations KG – acquisition 20,888 (6,963) - - - - 13,925 Unused tax losses 977 237 64,900 - (65,537) (179) 398 Unused investment tax credits 10,178 1,603 - - - - 11,781 Finance leases 1,484 (455) - - - - 1,029 Net cancellation reserve 7,974 (1,331) - - - - 6,643 Depreciation and amortization 16,127 (2,397) - - - 170 13,900 Bad debt provision 9,537 380 - - (78) 1 9,840 Hedge accounting 12,505 - - (6,488) - - 6,017 Employees benefits 12,171 3,389 - 617 (37) (24) 16,116 Dividends tax credits 2,786 (398) - - - - 2,388 Tax audit 2,599 802 - - - - 3,401 Offsetting obligations 379 735 - - - - 1,114 Other 4,677 5,692 - - (8) 151 10,512 102,282 1,294 64,900 (5,871) (65,660) 119 97,064 Netting (53,618) 3,293 - - - 65 (50,260) Total 48,664 4,587 64,900 (5,871) (65,660) 184 46,804 Liabilities 01/01/2010 Net charged to income statement Net Charged to income statement discontinued operations Charged to equity Transfers Translation changes 31/12/2010 Unrealized gains - foreign currency and financial instruments 1,103 (686) - - - - 417 Owners Shares contribution 16,799 - - (16,381) - - 418 Provision for decline in value of investments 40,484 (17,162) 12,874 - - - 36,196 Depreciation and amortization 108,316 21,011 - - (16) (68) 129,243 Capitalization of software internally developed 2,328 6,848 - - (15) - 9,161 Purchase Price Allocation 397,277 (45,510) - - - - 351,767 Hedge accounting 23,585 552 - (9,470) - - 14,667 Finance leases 3,630 272 - - - - 3,902 Tax audits 5,780 1,060 - - - - 6,840 Liquidation and sale of Group companies 3,144 1,785 - - - - 4,929 Other (135) 1,729 - - 8 105 1,707 602,311 (30,101) 12,874 (25,851) (23) 37 559,247 Netting (53,618) 3,293 - - - 65 (50,260) Total 548,693 (26,089) 12,874 (25,851) (23) 102 508,987
AMADEUS IT HOLDING, S.A. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED ANNUAL ACCOUNTS FOR THE YEARS ENDED DECEMBER 31, 2011, AND 2010 (EXPRESSED IN THOUSANDS OF EUROS - KEUR) The deferred tax assets and liabilities charged to equity in the year 2010 amounted to KEUR 5,871 and KEUR 25,851, respectively. During 2010, Iberia Líneas Aéreas de España, S.A., reduced its participation in the capital of the Company, in accordance with section 2, article 95 of the Reviewed Text of Spanish Corporate Tax Act (note 16), which resulted in a reduction of the deferred tax liability against additional paid-in capital. As of December 31, 2010, this deferred tax liability amounts KEUR 418. A deferred tax related to the discontinued operation of Opodo Group was recognised in 2010 by an amount of KEUR 52,026. During 2011 Opodo Group has been disposed of, as detailed in note 14. The table below shows the expiration date of unused tax losses for which no deferred tax asset was recognized in the financial statements, mainly due to the uncertainty of their recoverability as at December 31, 2011, and 2010: Year(s) of expiration 31/12/2011 31/12/2010 0-1 - 2,829 1-2 - 897 2-3 - 509 3-4 - 25 4-5 - - More than 5 years 21,198 51,578 Unlimited 18,955 11,396 Total 40,153 67,234 As of December 31, 2011, and 2010, the total unrecognized tax losses includes the tax credit derived from negative tax bases, amounting KEUR 21,198, as generated by the Company for the year ended July 31, 2005, prior to the application of the Special Tax Consolidation System. These tax bases pending offset will not be recognised until the Company is certain that they can be offset against any tax benefit in the periods until 2021. In the year ended December 31, 2010, the total unrecognized tax losses includes the Opodo Group’s by an amount of KEUR 34,640. 100
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FORM ANNUAL CORPORATE GOVERNANCE RE
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A.3 Please complete the following t
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A.8 Please complete the following t
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B.1.2 Please complete the following
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Central Bank to assume a role with
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Reasons As a result of the placemen
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B.1.8 Please detail any Board membe
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Other Benefits Amount in thousands
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B.1.13 Please identify the total am
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Please specify whether the Board at
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MR. ENRIQUE DUPUY DE LOME CHAVARRI
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B.1.19 Please specify the procedure
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B.1.24 Please specify whether the c
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Please specify, if applicable, the
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Outgoing auditor Incoming auditor I
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Explanation of procedure its books,
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egulatory requirements, the proper
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l) issue a report annually, prior t
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OPERATION: The Nomination and Remun
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C. RELATED-PARTY TRANSACTIONS C.1.
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- To analyze, measure and evaluate
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shareholders and provided that said
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E.6 Please provide details of any a
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7.- Report on the remuneration poli
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) Identity of grantor and represent
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c) Transactions whose effect is equ
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2. Transactions carried out at pric
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Complies 15. That when the number o
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Complies 25. Companies should organ
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34. That whenever, due to resignati
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vii) Remuneration of executive Boar
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50. That the Audit Committee shall
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It is the power of the Nomination a
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Section B.1.13 There are no indemni
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COMPLEMENTARY INFORMATION TO THE CO
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AMADEUS AMADEUS IT IT HOLDING, HOLD
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The Human Resources Unit is respons
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In 2011 Amadeus’ Finance Function
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In addition the Audit Committee has
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Use of estimates and assumptions, a
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The SLA should include next minimum
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The Committee supports and oversees
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Key terms � “ACH”: refers to
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