Chrysler 2012 Annual Report Download - page 271

Notes
270 Fiat S.p.A.
Statutory
Financial
Statements
at 31 December
2012
A breakdown of deferred tax liabilities, net of deferred tax assets, is provided in the following table:
(€ thousand)
31 December
2011
Recognized
in income
statement
Charged to
equity
31 December
2012
Deferred tax assets arising from:
- Taxed provisions and other minor differences 30,095 (1,160) - 28,935
Total deferred tax assets 30,095 (1,160) - 28,935
Deferred tax liabilities arising from:
- Measurement of construction contracts by the percentage completion method (48,357) 38 - (48,319)
- Others (784) (143) - (927)
Total deferred tax liabilities (49,141) (105) - (49,246)
Theoretical tax benefit arising from tax loss carryforwards 138,898 77,662 - 216,560
Adjustments for assets whose recoverability is not probable (127,997) (80,448) - (208,445)
Total deferred tax liabilities, net of deferred tax assets (8,145) (4,051) - (12,196)
Determination of deferred tax assets is based on an analysis of the existence of the conditions for their future realization, using updated plans and related
tax aspects. As a consequence, the total theoretical future tax benefit arising from deductible temporary differences (€28,935 thousand at 31 December 2012
and €30,095 thousand at 31 December 2011) and tax loss carryforwards (€216,560 thousand at 31 December 2012 and €138,898 thousand at
31 December 2011) was reduced by €208,445 thousand at 31 December 2012 (€127,997 thousand at 31 December 2011).
Total temporary differences (deductible and taxable) and tax losses at 31 December 2012 and amounts for which deferred tax assets have not been
recognized, broken down by year of expiry, are as follows:
Year of expiry
(€ thousand)
Total at
31 December
2012 2013 2014 2015 2016
Beyond
2016
Non-expiring/
undeterminable
Temporary differences and tax losses relating to IRES:
- Deductible temporary differences 105,216 22,416 50,040 687 - 32,073 -
- Taxable temporary differences (149,458) (82,706) (63,402) - - (3,350) -
- Tax losses 787,492 - - - - - 787,492
- Temporary differences and tax losses for which deferred tax assets
have not been recognized (757,980) - - - - (29,512) (728,468)
Temporary differences and tax losses subject to national taxation (14,730) (60,290) (13,362) 687 - (789) 59,024
Temporary differences relating to IRAP:
- Deductible temporary differences -- - - - - -
- Taxable temporary differences (146,225) (82,823) (63,402) - - - -
Temporary differences and tax losses subject to local taxation (146,225) (82,823) (63,402) - - - -