LensCrafters 2013 Annual Report Download - page 129

Total 400,163
(24,656) 2,543 10,682 (34,014) 354,720
Deferred tax liabilities
(Amounts in thousands of
Euro)
As of
January 1,
2013
Exchange rate
difference and
other
movements
Business
combinations
Income
statements
Tax
charged/(credited)
to equity
As of
December 31,
2013
Dividends 5,563
— —
1,819
—
7,383
Trade names 233,957
(17,321)
11,529 (20,284)
—
207,881
Fixed assets 55,491
(9,181)
41 5,548
—
51,899
Other intangibles 151,842
2,214
— 4,781 (6)
158,830
Other 11,454
8,125 (18) 5,645 (1,023) 24,181
Total 458,307
(16,163) 11,552 (2,491) (1,029) 450,175
Deferred income tax assets are recognized for tax loss carry-forwards to the extent that the realization of the
related tax benefit through future profit is probable. The Group did not recognize deferred income tax assets of
Euro 52.2 million in respect of losses amounting to Euro 201.9 million that can be carried forward against future taxable
income. Additional losses of certain subsidiaries amounting to Euro 25.9 million can be indefinitely carried forward.
The breakdown of the net operating losses by expiration date is as follows:
Year ending December 31:
(Amounts in thousands of Euro)
2014 20,866
2015 27,921
2016 19,077
2017 21,209
2018 24,033
Subsequent years 62,841
Total 175,946
The Group does not provide for an accrual for income taxes on undistributed earnings of its non-Italian
operations to the related Italian parent company of Euro 2.5 billion and Euro 2.0 billion in 2013 and 2012, respectively,
that are intended to be permanently invested. In connection with the 2013 earnings of certain subsidiaries, the Group
has provided for an accrual for income taxes related to dividends from earnings to be paid in 2014.