Loreal 2011 Annual Report Download - page 109

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107REGISTRATION DOCUMENT − L’ORÉAL 2011
2011 Consolidated Financial Statements
4
Notes to the consolidated  nancial statements
NOTE8 Other financial income and expenses
This item breaks down as follows:
€ millions
2011 2010 2009
Other financial income 0.9 7.5 0.7
Other financial expenses -6.5 -16.5 -13.7
Total -5.6 -9.0 -13.0
NOTE9 Income tax
9.1. Detailed breakdown of income tax
€ millions
2011 2010 2009
Current tax 939.9 799.9 624.5
Deferred tax 85.9 110.0 51.6
Income tax 1,025.8 909.9 676.1
9.2. Analysis of tax charge
The income tax charge may be analysed as follows:
€ millions
2011 2010 2009
Profit before tax and non-controlling interests 3,466.7 3,151.9 2,471.0
Theoretical tax rate 29.91% 30.13% 29.83%
Expected tax charge 1,036.7 949.7 737.0
Impact of permanent differences 54.9 93.1 82.6
Impact of tax rate differences -50.4 -107.7 -91.4
Change in unrecognised deferred taxes -8.4 -18.5 -8.8
Other(1) -7.0 -6.7 -43.3
Group tax charge 1,025.8 909.9 676.1
(1) Including tax credits, withholding taxes on distributions, tax reassessments and provisions for tax liabilities. The change between 2010 and 2009 is mainly
due to the elimination of withholding taxes in the United States in2009 for which a provision had been set aside in2008, and the increase in withholding
taxes on distributions due to the increase in profits.
The expected tax charge reflects, for each country, the sum of pre-tax profit multiplied by the normal taxation rate. The theoretical
tax rate reflects the total expected tax charge as a percentage of profit before tax and non-controlling interests.