Ubisoft 2008 Annual Report Download - page 161

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UBISOFT ANNUAL REPORT 2009
fI n a n c I a l s t a t e m e n t s 02
Contingent liabilities
A tax audit is underway at Ubisoft Entertainment SA for the nancial year running from April1, 2004 to March 31, 2007. The company
received a proposed adjustment for a very substantial amount, but primarily related to temporary differences, on August 4, 2008
but is contesting all of the points mentioned. The company considers that the risk is extremely limited, consequently, no provisions
have been booked in the accounts.
A tax audit is underway at Ubisoft Pty Ltd (Australia) for the nancial year running April 1, 2002 to March 31, 2005. No proposed
adjustments have been received to date. Consequently, no provisions have been made in the accounts.
Tax audits for the year in Germany and Belgium resulted in proposed adjustments of insignicant amounts.
Note 13. Employee benet liabilities
Opening Provisions Reversals Translation
adjustments
Closing
Provisions for post-employment benefits 1,699 18 95 19 1,641
Total 03.31.09 1,699 18 95 19 1,641
Total 03.31.08 1,205 494 - - 1,699
Assumptions used
Japan Italy France
03.31.09 03.31.08 03.31.09 03.31.08 03.31.09 03.31.08
Wage growth 1.50% 3.50% 1.50% 1.50% 1.50 to 3% 1.5 to 4.5%
Discount rate 5.20% 4.68% 5.20% 4.68% 5.20% 4.68%
Average remaining working life 22 years 21.5 years 26 years 29 years 31 years 31 years
Death rate assumptions are based on published statistics and tables.
The denition and the principles for measurement and recognition of these benet liabilities are presented in Section 2.1.5.5.4
Consolidation principles – Employee benets.
Note 14. Payments based on equity instruments
Impact on the nancial statements:
Equity 03.31.08 20,090
Employee benefits expense 16,855
Stock options 12,923
Bonus share grants 1,953
Employee savings plan 1,979
Equity 03.31.09 36,945
The impact of these share-based payments on reserves can be seen on 2.1.3 Consolidated Statement changes in Equity.