Audi 2008 Annual Report Download - page 212

193
Consolidated Financial
Statements
170 Income Statement
171 Balance Sheet
172 Cash Flow Statement
173 Statement of Changes in Equity
Notes to the Consolidated
Financial Statements
174 Development of
fixed assets 2008
176 Development of
fixed assets 2007
178 General information
183 Recognition and
measurement principles
189 Notes to the Income
Statement
196 Notes to the Balance Sheet
209 Additional disclosures
227 Events occurring subsequent
to the balance sheet date
228 Statement of Interests
held by the Audi Group
The reporting and measurement differences in the individual Balance Sheet items can be attrib-
uted to the following deferred tax assets and liabilities carried in the Balance Sheet:
EUR million Dec. 31, 2008 Dec. 31, 2007 Dec. 31, 2008 Dec. 31, 2007
Deferred tax assets Deferred tax liabilities
Intangible assets 101 100 459 441
Property, plant and equipment 200 199 217 175
Long-term investments 133 109 ––
Inventories 80 49 40 39
Receivables and other assets 56 43 339 281
Other current assets 34 50 ––
Provisions for pensions 81 113 3–
Other provisions 910 866 49 71
Liabilities 89 115 15 16
Loss carryforwards 10 10 ––
Gross value 1,694 1,654 1,122 1,023
of which non-current 1,145 1,096 596 549
Offsetting measures – 994 – 971 – 994 – 971
Consolidation measures – 9– 23 – 50 – 47
Carrying amount 691 660 78 5
Deferred taxes are explained in detail in the recognition and measurement principles.
Reconciliation of anticipated and reported income tax expense
The anticipated tax expense is lower than the reported tax expense. The reasons for the differ-
ence between the anticipated and the reported tax expense can be found in the reconciliation
accounts as follows:
EUR million 2008 2007
Profit before tax 3,177 2,915
Anticipated income tax expense 29.5 % (38.3 %) 937 1,116
Reconciliation:
Divergent foreign tax burden 17 – 96
Tax portion for:
tax-exempt income – 127 – 87
expenses not deductible for tax purposes 30 89
temporary differences and losses for which no deferred tax
has been recorded 124 114
Non-periodic tax income 1– 1
Effects of tax rate changes 3142
Other tax effects – 15 – 54
Income tax expense reported 970 1,223
Effective tax rate in % 30.5 42.0