Mercedes 2002 Annual Report Download - page 117

Notes to Consolidated Statements of Income (Loss) |111
In 2002, income tax credits from dividend distribution reflected
the tax benefit from the 2001 dividend distribution of 11.00
per Ordinary Share paid in 2002. In 2000, income tax credits
from dividend distribution reflected the tax benefit from
the dividend distribution of 12.35 per Ordinary Share to be
paid for that year.
(in millions of 3)2000
2002 2001
2,336
(238)
(1,012)
(31)
–
2
–
114
3
(57)
60
1,177
(571)
96
(191)
(50)
29
(25)
5
(76)
–
–
6
(777)
2,305
(346)
–
(28)
–
113
52
48
263
(491)
83
1,999
Year ended December 31,
Expected expense (benefit)
for income taxes
Tax rate differential with
non-German countries
Gains from sales of business interests
(T-Systems ITS, TEMIC, Adtranz,
debitel)
Trade tax rate differential
Changes in valuation allowances on
German deferred tax assets
Tax effect of equity method
investments
Amortization of non-deductible
goodwill
Tax free income and non-deductible
expenses
Effect of changes in German tax laws
Dividend distribution credit at DC AG
Other
Actual expense (benefit) for
income taxes
Deferred income tax assets and liabilities are summarized as
follows:
At December 31, 2002, the Group had corporate and trade tax
net operating losses (“NOLs”) amounting to 15,234 million
(2001: 14,668 million) and credit carryforwards amounting to
11,788 million (2001: 11,552 million), determined in accor-
dance with U.S. GAAP. The corporate tax NOLs and credit
carryforwards relate to losses of non-German companies and
German non-Organschaft companies and are partly limited in
their use to the Group. The valuation allowances on deferred
tax assets of German and non-German operations increased
by 196 million. In future periods, depending upon the financial
results, management’s estimate of the amount of the deferred
tax assets considered realizable may change, and hence the
valuation allowances may increase or decrease.
(in millions of 3)
Property, plant and equipment
Investments and long-term financial assets
Equipment on operating leases
Inventories
Receivables
Net operating loss and tax credit carryforwards
Pension plans and similar obligations
Other accrued liabilities
Liabilities
Deferred income
Other
Valuation allowances
Deferred tax assets
Property, plant and equipment
Equipment on operating leases
Inventories
Receivables
Securities
Prepaid expenses
Pension plans and similar obligations
Other accrued liabilities
Taxes on undistributed earnings of non-German
subsidiaries
Liabilities
Other
Deferred tax liabilities
Deferred tax assets (liabilities), net
2002 2001
611
2,132
956
709
663
3,002
3,424
4,938
1,733
1,138
120
19,426
(241)
19,185
(3,733)
(7,855)
(115)
(2,558)
(472)
(388)
(1,497)
(112)
(399)
(567)
(188)
(17,884)
1,301
365
2,135
689
697
1,369
3,078
3,682
6,340
1,331
944
423
21,053
(145)
20,908
(4,095)
(8,286)
(385)
(2,542)
(448)
(482)
(4,794)
(673)
(514)
(197)
(333)
(22,749)
(1,841)
At December 31,