Lenovo 2013 Annual Report Download - page 162
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NOTES TO THE FINANCIAL STATEMENTS
Lenovo Group Limited 2012/13 Annual Report
160
21 Deferred income tax assets and liabilities
Deferred income tax is calculated in full on temporary differences under the liability method using the rates applicable in the
respective jurisdictions.
Deferred income tax assets and liabilities are netted off when the taxes relate to the same tax authority and where offsetting is
legally enforceable. The following amounts, determined after appropriate offsetting, are shown separately on the consolidated
balance sheet:
Group
2013 2012
US$’000 US$’000
Deferred income tax assets:
Recovered within 12 months 290,414 252,946
Recovered after 12 months 58,975 79,547
349,389 332,493
Deferred income tax liabilities:
Recovered after 12 months (113,992) (83,594)
Net deferred income tax assets 235,397 248,899
The movements in the net deferred income tax assets are as follows:
Group
2013 2012
US$’000 US$’000
At the beginning of the year 248,899 234,005
Reclassification and exchange adjustments (2,713) (4,753)
Credited to consolidated income statement (Note 9) 12,888 67,757
(Charged)/credited to other comprehensive income (Note 9) (1,658) 2,895
Acquisition of subsidiaries (22,019) (51,005)
At the end of the year 235,397 248,899