Unilever 2010 Annual Report Download - page 108

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Unilever Annual Report and Accounts 2010 105
Financial statements
17 Deferred taxation
€ million € million € million € million
As at 1 As at 31
January Income December
Movements in 2010 2010 statement (a)
Equity 2010
Pensions and similar obligations 592 (133) (19) 440
Provisions 651 10 40 701
Goodwill and intangible assets (944) (53) (125) (1,122)
Accelerated tax depreciation (525) 12 (27) (540)
Tax losses 82 27 8 117
Fair value gains (24) – (1) (25)
Fair value losses 2 – 11 13
Share-based payments 146 (25) (1) 120
Other
(6)
(26)
19 10 23
(143) (104) (273)
Movements in
2009
€ million
As at 1
January
2009
€ million
Income
statement
€ million
Equity
€ million
As at 31
December
2009
Pensions and similar obligations
Provisions
Goodwill and intangible assets
Accelerated tax depreciation
Tax losses
Fair value gains
Fair value losses
Share-based payments
Other
809
612
(823)
(555)
105
(6)
40
100
(4)
278
(206)
(46)
(61)
49
61
–
2
24
8
(11)
85
(60)
(19)
(84)
(18)
(40)
22
(10)
592
651
(944)
(525)
82
(24)
2
146
(6)
(169) (135) (26)
(a) Of the total
acquisitions
movement in equity
and disposals.
of €(104) million, €(1) million arises as a result of currency re-translation and €(55) million as a result of
At the balance sheet date, the Group has unused tax losses of €1,515 million and tax credits amounting to €78 million available for offset against
future taxable profits. Deferred tax assets have not been recognised in respect of unused tax losses of €1,109 million and tax credits of €78 million,
asit is not probable that there will be future taxable profits within the entities against which the losses can be utilised. The majority of these tax
losses and credits arise in tax jurisdictions where they do not expire with the exception of €524 million of state and federal tax losses in the US
which expire between now and 2030.
Other deductible temporary differences of €83 million have not been recognised as a deferred tax asset. There is no expiry date for these
differences.
At the balance sheet date, the aggregate amount of temporary differences associated with undistributed earnings of subsidiaries for which
deferred tax liabilities have not been recognised was €1,633 million (2009: €1,319 million). No liability has been recognised in respect of these
differences because the Group is in a position to control the timing of the reversal of the temporary differences, and it is probable that such
differences will not reverse in the foreseeable future.