Suzuki 2008 Annual Report Download - page 42

Download and view the complete annual report

Please find page 42 of the 2008 Suzuki annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 52

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52

SUZUKI MOTOR CORPORATION 41
NOTE 9: Income taxes
Breakdown of deferred tax assets and deferred tax liabilities by their main occurrence causes were as follows.
Thousands of
Millions of yen U.S. dollars
2008 2007 2008
Deferred tax assets
Excess-depreciation ...................................................... ¥ 62,222 ¥ 56,526 $ 621,040
Various reserves ............................................................ 47,192 44,344 471,027
Unrealized gross profits elimination............................... 28,102 26,022 280,494
Others ............................................................................ 111,960 101,128 1,117,481
Gross deferred tax assets total ...................................... 249,477 228,021 2,490,043
Valuation allowance ....................................................... (5,030) (2,188) (50,208)
Deferred tax assets total ................................................ ¥244,447 ¥225,833 $2,439,835
Deferred tax liabilities
Net unrealized gains on security ................................... ¥ (10,563) ¥ (23,050) $ (105,431)
Variance from the complete market value method
of newly consolidated subsidiaries .............................. (8,031) (7,984) (80,160)
Reserve for fixed assets advanced depreciation .......... (2,806) (2,499) (28,010)
Others ............................................................................ (6,930) (960) (69,176)
Deferred tax liabilities total............................................. ¥ (28,331) ¥ (34,495) $ (282,779)
Net amounts of deferred tax assets ............................... ¥216,115 ¥191,337 $2,157,055
Consolidated Financial Statements of 2008
The differences between the statutory tax rate and the effective tax rate were summarized as follows.
2008 2007
Statutory tax rate ................................................................ 39.8% 39.8%
Tax credit ....................................................................... (3.8%) (5.3%)
Equity in earnings of affiliates ........................................ (0.1%) (0.6%)
Others ............................................................................ (2.0%) (1.9%)
Effective tax rate ................................................................ 33.9% 32.0%
Thousands of
Millions of yen U.S. dollars
2008 2007 2008
Research and development costs ................................. ¥108,741 ¥92,141 $1,085,356
NOTE 10: Research and development costs
Research and development costs included in selling, general and administrative expenses, for the years ended
March 31, 2008 and 2007 were as follows: