Lenovo 2014 Annual Report Download - page 174
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172 Lenovo Group Limited 2013/14 Annual Report
NOTES TO THE FINANCIAL STATEMENTS
21 Deferred income tax assets and liabilities
(continued)
The movements in the net deferred income tax assets are as follows:
Group
2014 2013
US$’000 US$’000
At the beginning of the year 235,397 248,899
Reclassification and exchange adjustments (9,496) (2,713)
Credited to consolidated income statement (Note 9) 17,474 12,888
Credited/(charged) to other comprehensive income (Note 9) 3,290 (1,658)
Acquisition of subsidiaries (216) (22,019)
At the end of the year 246,449 235,397
(a) The movements in deferred income tax assets (prior to offsetting of balances within the same tax jurisdiction), analyzed by
major components, during the year are as follows:
Provisions
and accruals
Tax
losses
Tax
depreciation
allowance
Deferred
revenue Others Total
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
At April 1, 2012 224,379 26,099 6,561 71,074 4,653 332,766
Reclassification and exchange
adjustments 8,090 (8,732) 1,895 (5,551) (458) (4,756)
Credited/(charged) to consolidated
income statement 13,423 13,319 (2,370) (2,107) (584) 21,681
Charged to other
comprehensive income – – – – (1,757) (1,757)
Acquisition of subsidiaries – – – 2,158 3,734 5,892
At March 31, 2013 and
April 1, 2013 245,892 30,686 6,086 65,574 5,588 353,826
Reclassification and
exchange adjustments (4,750) (3,185) 57 1,094 (416) (7,200)
Credited/(charged) to consolidated
income statement 18,479 23,081 (3,936) 7,682 355 45,661
Credited to other
comprehensive income – – – – 291 291
At March 31, 2014 259,621 50,582 2,207 74,350 5,818 392,578
Deferred income tax assets are recognized for deductible temporary differences and tax losses carried forward to the
extent that realization of the related tax benefit through the future taxable profits is probable.
At March 31, 2014, the Group did not recognize deferred income tax assets in respect of deductible temporary differences
of approximately US$2,188,939,000 (2013:US$2,406,161,000) and tax losses of approximately US$1,687,310,000 (2013:
US$791,723,000) that can be carried forward against future taxable income, of which, tax losses of US$1,181,408,000
(2013: US$428,827,000) can be carried forward indefinitely. The remaining balances of tax losses will expire as follows:
Group
2014 2013
US$’000 US$’000
Expiring in
– 2014 –13,051
– 2015 20,832 6,423
– 2016 1,900 2,177
– 2017 33,309 35,631
– 2018 10,704 115,722
– 2019 294,209 4,489
– 2020 9,786 –
– 2021 8,548 11,275
– 2022 125,812 174,128
– 2023 802 –
505,902 362,896