Isuzu 2009 Annual Report Download - page 33

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Isuzu Motors Limited Annual Report 2009
7. Shareholders’ Equity
Changes in the numbers of shares issued and outstanding during the
years ended March 31, 2009 and 2008 are as follows:
6. Income Taxes
Accrued income taxes in the balance sheets include corporation tax, inhabitant taxes and enterprise tax. Income taxes in the consolidated
statement of income include corporation tax and inhabitant taxes and enterprise tax.
The significant components of the Company and its consolidated subsidiaries’ deferred tax assets and liabilities as of March 31, 2009 and
2008 are as follows:
¥ 20,543
12,280
14,408
5,030
1,218
55,233
4,979
14,260
127,954
(80,204)
47,750
(1,167)
(3,073)
(4,158)
(623)
(9,023)
¥ 38,726
1,130
86
2,627
¥ 3,843
¥ 22,910
12,667
7,296
4,259
2,366
75,153
4,768
11,407
140,830
(122,695)
18,134
(560)
(204)
—
(143)
(907)
¥ 17,226
1,061
58
3,246
¥ 4,366
$ 233,234
128,960
74,276
43,360
24,091
765,081
48,542
116,130
1,433,678
(1,249,067)
184,610
(5,701)
(2,077)
—
(1,460)
(9,239)
$ 175,370
10,805
590
33,052
$ 44,448
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, 2009 and
2008 are as follows:
Thousands of
Millions of yen U.S. dollars
2009 2008 2009
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 down
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
Unrealized holding gain on securities
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
2009 2008
Balance at the beginning of the year
Increase due to convertible stocks converted
Balance at the end of the year
1,696,845,339
—
1,696,845,339
Common stock outstanding
1,492,689
266,627
1,759,316
1,759,316
475,683
2,234,999
Treasury stock outstanding
1,696,845,339
—
1,696,845,339
2009 2008
Balance at the beginning of the year
Increase due to purchase of odd stocks
Balance at the end of the year
2009 2008
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
Foreign withholding tax
Others
Effective tax rate after adoption of tax-effect accounting
40.0%
(10.3)
(5.8)
1.0
(5.6)
1.2
0.3
20.7
40.0%
278.7
(35.0)
11.2
(16.1)
6.8
1.5
287.1