Electrolux 2005 Annual Report Download - page 65

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Notes
Electrolux Annual Report 2005 61
Note 10 continued
Deferred tax assets and liabilities
Group
Assets Liabilities Net
2005 2004 2005 2004 2005 2004
Fixed assets1) 821 372 1,681 1,550 –860 –1,178
Inventories 152 300 484 532 –332 –232
Current receivables 141 189 78 152 63 37
Provisions for pensions
and similar commitments 2,080 2,221 622 458 1,458 1,763
Other provisions 700 631 132 309 568 322
Financial and
operating liabilities 449 811 172 21 277 790
Other items 96 — — 102 96 –102
Recognized unused
tax losses 263 269 — — 263 269
Tax assets and liabilities 4,702 4,793 3,169 3,124 1,533 1,669
Set-off of tax –1,752 –1,872 –1,752 –1,872 — —
Net deferred tax assets and liabilities 2,950 2,921 1,417 1,252 1,533 1,669
1) Of which a net of SEK 74m refers to shares and participations.
Deferred tax assets amounted to SEK 2,950m, whereof 717m will be utlized within 12 months.
Deferred tax liabilities amounted to SEK 1,417m, whereof 183m will be utilized within 12 months.
Note 11 Intangible assets
Parent
Group Company
Product
Goodwill development Software Other Total Brands, etc.
Acquisition costs
Opening balance, Jan. 1, 2004 3,532 515 149 901 5,097 668
Acquired during the year 41 — — 232 273 166
Development — 486 183 — 669 3
Fully amortized — — — –26 –26 —
Exchange-rate differences –238 –32 –16 –14 –300 —
Closing balance, Dec. 31, 2004 3,335 969 316 1,093 5,713 837
Acquired during the year — — — 60 60 —
Development — 466 87 — 553 4
Sold during the year — — — — — –26
Fully amortized — –6 –19 —1 –26 —
Exchange-rate differences 537 91 31 82 741 —
Closing balance, Dec. 31, 2005 3,872 1,520 415 1,234 7,041 815
Accumulated amortization according to plan
Opening balance, Jan. 1, 2004 — 43 7 228 278 88
Amortization for the year — 119 35 63 217 43
Fully amortized — — — –26 –26 —
Exchange-rate differences — –3 –3 –7 –13 —
Closing balance, Dec. 31, 2004 — 159 39 258 456 131
Amortization for the year — 241 63 93 397 49
Sold and acquired during the year — — — — — –5
Fully amortized — –6 –19 –1 –26 —
Impairment — 8 22 — 30 —
Exchange-rate differences — 15 8 61 84 —
Closing balance, Dec. 31, 2005 — 417 113 411 941 175
Net book value, Dec. 31, 2004 3,335 810 277 835 5,257 706
Net book value, Dec. 31, 2005 3,872 1,103 302 823 6,100 640
Included in Other are trademarks of SEK 695m (716) and patents, licenses etc. amounting to SEK 128m (119).