Nokia 2011 Annual Report Download - page 273

At December 31, 2011 the Group had loss carry forwards of EUR 2 702 million (EUR 1 792 million in
2010) of which EUR 969 million will expire within 10 years (EUR 144 million in 2010).
At December 31, 2011 the Group had loss carry forwards, temporary differences and tax credits of
EUR 4 302 million (EUR 3 323 million in 2010) for which no deferred tax asset was recognized due to
uncertainty of utilization of these items. Most of these items do not have an expiry date.
The recognition of the remaining deferred tax assets is supported by profit projections in the relevant
jurisdictions.
At December 31, 2011 the Group had undistributed earnings of EUR 424 million (EUR 360 million in
2010) on which no deferred tax liability has been formed as these will not reverse in the foreseeable
future.
26. Accrued expenses and other liabilities
2011 2010
EURm EURm
Social security, VAT and other taxes ....................................... 1 655 1 585
Wages and salaries .................................................... 636 619
Deferred revenue ...................................................... 751 786
Advance payments ..................................................... 1 524 1 172
Other ................................................................ 2 884 3 203
Total ................................................................. 7 450 7 365
Other operating expense accruals include accrued discounts, royalties and marketing expenses as well
as various amounts which are individually insignificant. Majority of the deferred revenue will be
recognized as revenue within the next 12 months.
27. Provisions
Warranty Restructuring
IPR
infringements
Project
losses Tax Other Total
EURm EURm EURm EURm EURm EURm EURm
At January 1, 2011 .......... 928 195 449 207 296 515 2590
Translation differences ....... (5) — — — (4) — (9)
Acquisitions ................. 30 — — — — 5 35
Additional provisions ......... 671 584 70 237 124 374 2060
Changes in estimates ........ (33) (95) (74) (70) (103) (135) (510)
Charged to profit and loss
account .................. 638 489 (4) 167 21 239 1550
Utilized during year .......... (903) (225) (14) (169) (14) (214) (1 539)
At December 31, 2011 ....... 688 459 431 205 299 545 2627
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