Isuzu 2007 Annual Report Download - page 37

35
Isuzu Motors Limited Annual Report 2007
Financial Section
7. Shareholders’ Equity
Changes in the numbers of shares issued and outstanding during the
years ended March 31, 2007 and 2006 are as follows:
6. Income Taxes
Accrued income taxes in the balance sheets include corporation tax,
inhabitants taxes and enterprise tax. Income taxes in the consolidated
statement of income include corporation tax and inhabitants taxes
and enterprise tax.
The significant components of the Company and its consolidated subsidiaries’ deferred tax assets and liabilities as of March 31, 2007 and 2006
are as follows:
¥ 21,191
47,158
14,535
4,841
1,489
26,460
4,849
45,385
165,911
(125,844)
40,066
(981)
(4,381)
(702)
(6,064)
¥
34,002
1,700
6,987
767
¥ 9,455
¥ 21,729
15,439
12,637
5,415
1,185
75,291
4,900
13,166
149,765
(102,552)
47,213
(748)
(4,209)
(583)
(5,541)
¥
41,671
1,679
5,592
2,273
¥ 9,545
$ 184,071
130,787
107,052
45,874
10,044
637,790
41,513
111,530
1,268,665
(868,724)
399,940
(6,341)
(35,658)
(4,942)
(46,942)
$
352,998
14,226
47,371
19,259
$ 80,858
2007 2006
Normal effective statutory tax rate
Net Valuation allowance
Different tax rates applied to foreign subsidiaries
Loss for this fiscal year by consolidated subsidiaries
Equity in earnings of unconsolidated subsidiaries
Additional income tax
Foreign withholding tax
Others
Effective tax rate after adoption of tax-effect accounting
40.0%
(28.2)
(3.3)
0.5
(4.6)
—
1.1
1.7
7.3
A reconciliation between the normal effective statutory tax rate and
the actual effective tax rates reflected in the accompanying consoli-
dated statement of income for the years ended March 31, 2007 and
2006 are as follows:
40.0%
(22.1)
(3.8)
7.3
(5.4)
2.0
0.6
0.8
19.4
Thousands of
Millions of yen U.S. dollars
2007 2006 2007
Deferred tax assets:
Accrued retirement benefits
Loss from revaluation of investments and Allowance for doubtful accounts
Accrued expenses
Accrued bonus cost
Loss from inventory write off
Loss carried forward
Unrealized profit eliminated in consolidation etc.
Others
Total gross deferred tax assets
Valuation allowance
Total deferred tax assets
Deferred tax liabilities
Reserve for deferred income tax of fixed assets
Depreciation adjustment of foreign consolidated subsidiaries
Others
Total deferred tax liabilities
Net deferred tax assets
Deferred tax liabilities:
Reserve for deferred income tax of fixed assets
Unrealized holding gain on other securities
Others
Net deferred tax liabilities
2007 2006
Balance at the beginning of the year
Increase due to convertible stocks converted
Increase due to stock acquisition right
Balance at the end of the year
1,141,289,786
555,555,553
—
1,696,845,339
1,073,619,832
—
67,669,954
1,141,289,786
Common stock outstanding
2007 2006
Balance at the beginning of the year
Increase due to purchase of odd stocks
Balance at the end of the year
1,258,960
233,729
1,492,689
1,112,221
146,739
1,258,960
Treasury stock outstanding