Ubisoft 2012 Annual Report Download - page 156
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Financial Statements
2012
151
At March 31, 2012, non-recurring items mainly comprised:
- Net gain on sales and contributions of shares of the French subsidiaries for €16,418 thousand;
- Gain on disposal of Gameloft SA shares for €7,227 thousand;
- €203,212 thousand in allocations for accelerated tax depreciation on development
expenditure for software;
- €113,754 thousand in reversals for accelerated tax depreciation on development
expenditure for software.
Note 24. Income tax
At March 31, 2012, the tax group incorporates Ubisoft Entertainment SA (holding company)
and all subsidiaries whose head office is in France, with the exception of those created or
acquired during the fiscal year.
Any tax savings arising from the use of losses at the tax group’s member companies will only
be temporary, since the company in question may use them at any time for its own purposes.
On a standalone basis (disregarding the tax consolidation group), Ubisoft Entertainment SA’s figures
were as follows:
03/31/12
03/31/11
Profit (loss) before tax from
continuing operations
(304)
(128,006)
Non-recurring items
(65,784)
(54,550)
Profit (loss) before tax
(66,088)
(182,556)
Income tax (credit)
(2,271)
(30,439)
Net accounting profit (loss)
(63,817)
(152,117)
Taxable income
(96,148)
(185,814)
Profit (loss)
before tax
Theoretical
Net profit
(loss)
tax (tax credit)
Due
Current
(304)
(1,011)
57
(247)
Non-recurring
(65,784)
(31,038)
0
(65,784)
Tax consolidation
2,214
2,214
TOTAL
(66,088)
32,049
2,271
(63,817)
Tax income comprises:
- Cancellation of tax expense recorded by the subsidiaries of the tax consolidation group in the amount
of €2,214 thousand;
- Holding company tax credits of €57 thousand.
The carryforward deficit of the tax group at March 31, 2012 amounted to €357,219 thousand, including
€330,720 thousand of accelerated tax depreciation related to the application of Article 236 of the CGI
(General Tax Code).