Saab 2011 Annual Report Download - page 102

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Parent Company
MSEK 2011 2010
Current tax expense (-)/tax income (+)
Taxes for the year -278 -168 1)
Adjustment for taxes related to previous years - 17
Total -278 -151
Deferred tax expense (-)/tax income (+)
Deferred tax related to temporary differences -184 8
Deferred tax expense due to utilisation of previously
capitalised tax value in tax loss carry forwards - -274
Deferred tax related to previous years - -6
Total -184 -272
Total recognised tax expense in Parent Company -462 -423
1) The current tax expense for 2010 has been restated due to a change in the application of tax in Group contributions.
Reconciliation of effective tax
Group
MSEK 2011 (%) 2011 2010 (%) 2010
Income before taxes 2,783 - 776
Tax according to current tax
rate for Parent Company -26.3 -732 -26.3 -204
Effect of other tax rates for
foreign Group companies 0.6 15 -2.7 -21
Non-deductible expenses -4.9 -135 -8.4 -65
Tax-exempt income 10.1 280 5.8 45
Revaluation of deferred tax
assets from the leasing
portfolio - - -5.0 -39
Tax on additional, uncapital-
ised tax loss carry forwards -0.4 -12 -2.3 -18
Tax related to previous years 0.6 18 -2.1 -16
Other - - -0.5 -4
Reported effective tax rate -20.3 -566 -41.5 -322
Operations divested during the year have generated tax-exempt capital gains
totaling   (). In connection with dividends from Group companies
in certain non-European countries, taxation may exceed normal company
tax. e dividend paid to shareholders has no tax consequences.
Parent Company
MSEK 2011 (%) 2011 2010 (%) 2010
Income before taxes - 2,051 - 1,464
Tax according to current tax
rate for Parent Company -26.3 -539 -26.3 -385
Tax related to previous years - - 0.8 11
Non-deductible expenses -6.8 -140 -12.2 -178
Tax-exempt income 10.6 217 8.8 129
Reported effective tax rate -22.5 -462 -28.9 -423
Income before taxes for the Parent Company, Saab , has been restated for
 due to a change in accounting principles for Group contributions to
subsidiaries. Income before taxes has also been restated for  due to a cor-
rection in the classication and valuation of intangible and nancial assets.
As a result, the tax on non-deductible expenses has increased and the
reported eective tax rate is -., compared with -. previously.
Deferred tax assets and liabilities
Group
Deferred
tax assets
Deferred
tax
liabilities Net
MSEK 31-12-2011 31-12-2011
Intangible fixed assets 1 -646 -645
Tangible fixed assets 20 -504 -484
Lease assets 5 -105 -100
Biological assets - -52 -52
Long-term receivables - -38 -38
Inventories 243 -2 241
Accounts receivable 6 - 6
Prepaid expenses and accrued income 30 -3 27
Long-term liabilities 91 -2 89
Provisions for pensions 167 -458 -291
Other provisions 617 -14 603
Tax allocation reserves - -94 -94
Contingency reserve attributable to Lansen
Försäkrings AB - -357 -357
Accrued expenses and deferred income 169 - 169
Other 55 -197 -142
Tax loss carry forwards 142 - 142
Tax assets/liabilities 1,546 -2,472 -926
Set-off -1,460 1,460 -
Tax assets /liabilities, net 86 -1,012 -926
Group
Deferred
tax assets
Deferred
tax
liabilities Net
MSEK 31-12-2010 31-12-2010
Intangible fixed assets 11 -745 -734
Tangible fixed assets 23 -465 -442
Lease assets 19 -189 -170
Biological assets - -51 -51
Long-term receivables 22 -52 -30
Inventories 193 -16 177
Accounts receivable 5 - 5
Prepaid expenses and accrued income 15 -2 13
Long-term liabilities 82 -22 60
Provisions for pensions 152 -279 -127
Other provisions 800 -19 781
Tax allocation reserves - -2 -2
Contingency reserve attributable to Lansen
Försäkrings AB - -357 -357
Accrued expenses and deferred income 229 -12 217
Other 67 -243 -176
Tax loss carry forwards 33 - 33
Tax assets/liabilities 1,651 -2,454 -803
Set-off -1,651 1,651 -
Tax assets /liabilities, net - -803 -803
In the company’s view, the tax value of future taxable surpluses will exceed
reported deferred tax assets. In the .. there are approximately   in
tax loss carry forwards, of which approximately   is expected to be
oset against future taxable earnings. e tax loss carry forwards attributable
to the .. operations can be utilised through , but partly expire as of .
NOTE 15, CONT.
FINANCIAL INFORMATION > NOTES
98 SAAB ANNUAL REPORT 2011