Atari 2010 Annual Report Download - page 99

ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
99
21.3. TAX PROOF
Corporate income tax for the year was calculated by applying the effective tax rate at the balance sheet date to pre-tax
profit for the year ended March 31, 2009. In France, deferred taxes were calculated based on a tax rate of 33.33% at
March 31, 2009 and 2008.
The table below provides a reconciliation between theoretical tax calculated on the basis of the standard tax rate
applicable in France and the Group's actual income tax expense:
(€ million) Year ended
March 31, 2010 Year ended March 31, 2009
Net income (loss) for the year attributable to equity holders of the parent (19.4) (221.9)
Income tax (2.6) (3.1)
Minority interests (3.8) (0.8)
Share of profit of associates - -
Profit (loss) from discontinued operations (3.7) 90.8
Pre-tax profit (29.5) (135.0)
Theoretical income tax benefit (expense) 9.8 45.0
Impairment of goodwill (13.4)
Other permanent differences (6.0) 0.3
Correction of error (1) - 4.2
Use of deferred tax assets on prior-year losses - -
Deferred tax assets recognized on prior-year losses - -
Deferred tax assets not recognized for the period and restriction of recognition of deferred tax assets (11.3) (39.4)
Effect of variations in tax rates between countries 1.1 1.3
Effect of changes in tax rates - -
Use of previously unrecognized deferred tax assets and tax loss carryforwards
-
-
Share-based payments 0.5 (2.0)
Other (tax credits, etc.) 8.5 7.1
Actual income tax expense 2.6 3.1
(1) Prior fiscal year financial statements have been restated for the correction of income tax expense (€4.2 million).
NOTE 22 – DISCONTINUED OPERATIONS
22.1. PROFIT (LOSS) FROM DISCONTINUED OPERATIONS
As described in Note 1.2, in accordance with IFRS 5, profit (loss) from discontinued operations includes the results of all
of the Group’s video game retail distribution activities in Europe, Asia, Africa, the Middle East and South America. The
income statements of these activities are included in "Profit (loss) from discontinued operations" in Atari SA's
consolidated income statement and break down as follows:
(€ million) Year ended
March 31, 2010
Year ended
March 31, 2009
Revenue from discontinued operations 26.2 159.6
Cost of goods sold (19.8) (140.0)
Gross profit 6.4 19.6
Research and development expenses (0.1) (6.6)
Marketing and selling expenses (8.0) (41.8)
Overhead and administrative expenses (8.4) (15.5)
Current operating income (loss) - Discontinued operations (10.1) (44.3)
Gains (losses) from disposals of assets* 13.2 (31.4)
Restructuring costs (0.2) (8.3)
Other income (expenses) - (0.2)
OPERATING INCOME (LOSS) - Discontinued operations 3.0 (84.2)
Cost of debt (0.4) (1.8)
Other financial income (expense) (0.1) (4.6)
Income tax 1.2 (0.2)
PROFIT (LOSS) FROM DISCONTINUED OPERATIONS 3.7 (90.8)