Ubisoft 2012 Annual Report Download - page 124
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Financial Statements
2012
119
Reconciliation between the theoretical tax liability and the recognized tax liability:
03/31/12
Consolidated income excluding goodwill, tax and profit of associates
48,099
Theoretical tax (33.33%)
16,031
Payments of tax deferred from previous years:
Impact of supplementary tax
-304
Impact of changes in the rate on the tax basis
-102
Impact of previously unrecognized tax loss carryforwards
-665
Impact of permanent differences between corporate income and
consolidated earnings:
Net cost of share-based payments
3,470
Tax depreciation of goodwilll
(267)
Cancellation of studio margin
(1,442)
Other permanent differences
(314)
Impact of permanent differences between corporate income and
taxable income:
Disposal of Gameloft shares
(4,694)
Other permanent differences
825
Taxation of foreign companies at different tax rates
(669)
Other adjustments
Other local taxes
(617)
Tax credits presented in profit/loss before tax
(474)
Total income tax
10,778
Real tax rate
22.41%
Deferred tax
Breakdown by nature of tax on the balance sheet and income statement:
03/31/11
Change
in
income
Change in
other
comprehensive
income
Carried over
from business
combinations
Other
reclassifications
03/31/12
Intangible assets
Elimination of margin on
intangible assets
5,874
491
6.365
Available-for-sale financial
assets
3,094
-
(1,607)
1,487
Capitalized losses and tax
credits
Losses
10,405
162
10,567
Investment tax credit
36,663
227
9,873
46,763
Hedging derivatives
157
561
(244)
474
Other
Temporary tax differences
24,496
1.237
(9)
(812)
24,912
Other consolidation
adjustments
1,836
(79)
1,757
Total deferred tax assets
82,525
2,599
(1,860)
-
9,061
92,325
Intangible assets
Brands
(5,611)
(1,017)
-
(6,628)
Other intangible assets
(488)
10
(695)
(1,173)
Tax credit
(21,907)
(3.768)
(25,675)
Other
(2,984)
(936)
(3,920)
Total deferred tax liabilities
(30,990)
(5,711)
-
(695)
-
(37,396)
Total net deferred taxes
51,535
(3,112)
(1,860)
(695)
9,061
54,929