Samsung 2011 Annual Report Download - page 44

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(2) Deferred income tax assets and liabilities resulting from the tax effect of temporary differences including available tax credit carryforwards and
undisposed accumulated deficit as of December 31, 2010 are as follows :
(In millions of Korean Won)
Temporary Differences Deferred Income Tax Asset (Liabilities)
Beginning
Balance
Increase
(Decrease)
Ending
Balance
Beginning
Balance
Increase
(Decrease)
Ending
Balance
Deferred tax arising from temporary differences
Special reserves appropriated for tax purposes ￦ (644,811) ￦ 626,665 ￦ (18,146) ￦ (156,044) ￦ 152,052 ￦ (3,992)
Revaluation of land (4,202,389) 218,216 (3,984,173) (924,525) 48,007 (876,518)
Associates and joint ventures
and other Investments (9,032,482) (5,127,725) (14,160,207) (1,581,746) (527,553) (2,109,299)
Depreciations and etc. (36,830) 167, 226 130,396 (54,935) 45,610 (9,325)
Capitalized interest expense (41,662) 1,795 (39,867) (9,345) 535 (8,810)
Accrued income (39,568) (105,053) (144,621) (9,576) (25,354) (34,930)
Allowance (technical expense, others) 3,819,074 (76,731) 3,742,343 950,284 (23,571) 926,713
Foreign currency translation 77,8 23 (100,845) (23,022) 17,512 (24,080) (6,568)
Impairment losses on investments 34,395 11,025 45,420 7,5 68 2,426 9,994
Others 1,786,980 260,745 2,0 47,725 587, 90 9 (4,509) 583,400
￦ (8,279,470) ￦ (4,124,682) ￦ (12,404,152) ￦ (1,172,898) ￦ (356,437) ￦ (1,529,335)
Deferred tax assets arising from the
carryforwards
Undisposed accumulated deficit ￦ 285,568 ￦ (244,746) ￦ 40,822 ￦ 45,612 ￦ (41,250) ￦ 4,362
Tax credit carryforwards 1,348,621 233,204 1,581,825 1,056,534 363,902 1,420,436
Deferred items recognized in other
comprehensive income
Valuation of available-for-sale financial
assets and others ￦ (856,800) ￦(1,417,671) ￦ (2,274,471) ￦ (127,611) ￦(296,510) ￦ (424,121)
The Company periodically assesses its ability to recover deferred income tax assets. In the event of a significant uncertainty regarding the Company’s
ultimate ability to recover such assets, deferred income tax assets are recognized only to the extent that it is probable that future taxable profit will be
available against which the temporary differences can be utilized.
Temporary differences, whose deferred tax effects were not recognized due to the uncertainty regarding ultimate realizability of such assets, as of December
31, 2011 and 2010 are as follows :
(In millions of Korean Won)
2011 2010
Undisposed accumulated deficit ￦144,108 ￦37,803
Tax credit carryforwards 159,160 131,782
Expiry date of unused tax losses, and unused tax credits for which no deferred tax asset is recognized in the balance sheet are as follows :
(In millions of Korean Won)
2012 2013 2014 2015 and after
Undisposed accumulated deficit ￦-￦-￦-￦144,108
Tax credit carryforwards 74,828 15,803 46,046 22,483
D) The amount of income tax relating to each component of other comprehensive income is as follows :
(In millions of Korean Won)
2011 2010
Gain and loss on valuation of available-for-sale financial assets ￦ (340,760) ￦ (449,408)
Foreign currency translation adjustment 22,708 25,287
Total ￦ (318,052) ￦ (424,121)
E) The analysis of deferred tax assets and deferred tax liabilities is as follows :
(In millions of Korean Won)
2011 2010
Current ￦2,869,404 ￦2,786,728
Non-current (3,588,769) (3,315,386)
Total ￦ (719,365) ￦ (528,658)
28. Earnings Per Share
Basic earnings per share for the years ended December 31, 2011 and 2010, are calculated as follows :
(In millions of Korean Won)
2011 2010
Net income as reported on the statements of income ￦13,359,192 ￦15,799,035
Net income available for common stock 11, 592,946 13,702,618
Weighted-average number of common shares outstanding (in thousands) 130,152 129,280
Basic earnings per share (in Korean Won) ￦89,073 ￦105,992
(In millions of Korean Won)
2011 2010
Net income as reported on the statements of income ￦13,359,192 ￦15,799,035
Net income available for preferred stock 1,766,246 2,096,417
Weighted-average number of preferred shares outstanding (in thousands) 19,854 19,854
Basic earnings per preferred share (in Korean Won) ￦88,963 ￦105,592
Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive
potential ordinary shares. The company has one category of dilutive potential ordinary shares : Stock options. A calculation is done to determine the number
of shares that could have been acquired at fair value (determined as the average annual market share price of the company’s shares) based on the monetary
value of the subscription rights attached to outstanding share options. The number of shares calculated as above is compared with the number of shares
that would have been issued assuming the exercise of the share options.
Diluted earnings per share for the years ended December 31, 2011 and 2010, are calculated as follows :
(In millions of Korean Won, except for share amounts)
2011 2010
Net income available for common stock and common equivalent shares ￦ 11,594,595 ￦ 13,702,618
Weighted-average number of shares of common stock and common shares equivalent (in thousands) 130,291 129,671
Diluted earnings per share (in Korean won) ￦ 88,990 ￦ 105,672
(In millions of Korean Won, except for share amounts)
2011 2010
Net income available for common stock and common equivalent shares ￦ 1,764,597 ￦ 2,096,417
Weighted-average number of shares of common stock and common shares equivalent (in thousands) 19,854 19,854
Diluted earnings per preferred share (in Korean won) ￦ 88,880 ￦ 105,592