Audi 2014 Annual Report Download - page 241

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE INCOME STATEMENT
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Loss carryforwards total EUR 3,170 (3,052) million, of which
EUR 47 (3,051) million may be used indefinitely, with
EUR 3,123 (1) million to be used within the next eleven years.
The decline in the loss carryforwards available for use indefinitely
and the rise in loss carryforwards subject to a time limit are
mainly due to a change in the statutory provisions governing
the carrying forward of losses in Hungary. Overall, loss carry-
forwards in the amount of EUR 3,117 (3,049) million were
classed as unusable. In the 2014 fiscal year, the realization of
tax losses led to a reduction in current income tax expense of
EUR 1 (43) million. Deferred tax assets of EUR 482 (416) million
relating to tax loss carryforwards and tax concessions were not
reported due to impairment.
No deferred tax claims were recorded for deductible temporary
differences of EUR 160 (–) million or for tax concessions in the
amount of EUR 101 (84) million.
Deferred tax liabilities of EUR 34 (40) million for temporary
differences and non-distributed profits of AUDI AG subsidiaries
were not recorded due to the existence of control pursuant to
IAS 12.39.
Deferred taxes of EUR 13 (2) million were capitalized, with no
deferred tax liabilities in the corresponding amount being offset
against them. Following a loss in the current fiscal year, the
companies concerned are expecting to record a positive tax
income in future.
The devaluation of deferred tax claims resulted in a deferred
tax expense of EUR 222 (19) million.
Of the deferred taxes reported in the Balance Sheet, a total of
EUR 995 million was recorded in the current fiscal year with a
resulting increase in equity, without influencing the Income
Statement. Deferred taxes totaling EUR 353 million were
recorded during the previous year with a resulting reduction in
equity.
The recording of actuarial losses without affecting profit or
loss, pursuant to IAS 19, led in the current fiscal year to an
increase in equity of EUR 401 million from the creation of
deferred taxes. During the prior year, deferred taxes of
EUR 83 million on actuarial gains were taken into account,
resulting in a decrease in equity. The change in deferred taxes
on the effects recognized in equity for derivative financial
instruments and securities led to an increase of EUR 594 million
in equity in the course of the year. Deferred taxes amounting
to EUR 270 million were recorded from these effects during
the previous year.
Deferred taxes posted directly in equity in the current fiscal year
are broken down in detail in the Statement of Comprehensive
Income.
10.1 / DEFERRED TAX ASSETS AND LIABILITIES ON RECOGNITION AND MEASUREMENT DIFFERENCES
RELATING TO INDIVIDUAL BALANCE SHEET ITEMS AND ON TAX LOSS CARRYFORWARDS
EUR million Deferred tax assets Deferred tax liabilities
Dec. 31, 2014 Dec. 31, 2013 Dec. 31, 2014 Dec. 31, 2013
Intangible assets 127 128 1,158 997
Property, plant and equipment 289 266 72 76
Long-term financial investments – – 41 24
Inventories 49 39 17 42
Receivables and other assets 81 11 550 541
Other current assets 114 99 0 –
Provisions for pensions 985 550 – 1
Liabilities and other provisions 2,288 1,552 15 19
Loss carryforwards after impairment 16 1 – –
Tax credits after impairment 10 33 – –
Impairment on other deferred tax assets – 189 – – –
Gross value 3,768 2,678 1,854 1,700
of which non-current 1,702 1,280 1,289 1,325
Offsetting – 1,643 – 1,184 – 1,643 – 1,184
Consolidation measures 226 226 0 1
Carrying amount 2,351 1,720 211 517