Ubisoft 2008 Annual Report Download - page 176

174
UBISOFTANNUAL REPORT 2009
The expiry of tax loss carry-forwards breaks down as follows:
- from 1 to 5 years: €168 thousand,
- over 5 years: €0 thousand,
- no expiry: €1,286 thousand.
Deferred tax liabilities
The Canadian subsidiary benets from multimedia credits. As these credits are taxable in the year in which they are used but are
recognised on a scal year basis, the Company recognises a future tax liability for this item.
Expiry of deferred tax liabilities:
- Short-term: €45,320 thousand,
- Long-term: €15,000 thousand.
As permitted under Article 236 of the French General Tax Code, Ubisoft Entertainment SA opted to immediately expense software
design costs where design started during the period. The amounts involved were €74 million for in-house software and €13 million
for external software over the year. In accordance with IAS 12, the cancellation of the accelerated tax depreciation generates
a deferred tax liability.
Note 28. Earnings per share
Earnings from continuing operations at March 31, 2009 €68,848 thousand
Weighted average number of shares in circulation: €93,362,387
Dilutive shares: 3,796,396
Weighted average number of shares after exercise of the rights on dilutive instruments: 97,158,782
Diluted earnings per share from continuing operations as at March 31, 2009 = €0.71