Unilever 2012 Annual Report Download - page 107

104 Unilever Annual Report and Accounts 2012Financial statements
NOTES TO THE ONSOLIDATED FINANIAL STATEMENTS UNILEVER ROUP continued
6B Deferred tax continued
At the balance sheet date, the Group has unused tax losses of €1,582 million (2011: €1,568 million) and tax credits amounting to
€120million (2011: €39 million) available for offset against future taxable profits. Deferred tax assets have not been recognised in
respect of unused tax losses of €1,234 million (2011: €1,191 million) and tax credits of €120 million (2011: €38 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 €516 million (2011: €512 million)
of state and federal tax losses in the US which expire between now and 2031.
Other deductible temporary differences of €39 million (2011: €58 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 €1,449 million (2011: €1,443 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.
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against
current tax liabilities and when the deferred income taxes relate to the same fiscal authority. The following amounts, determined
after appropriate offsetting, are shown in the consolidated balance sheet:
Deferred tax assets and labltes
 mllon
Assets
2012
€ million
Assets
2011
 mllon
Labltes
2012
€ million
Liabilities
2011
 mllon
Total
2012
€ million
Total
2011
Pensions and similar obligations 614 555 220 193 834 748
Provisions 561 419 58 242 619 661
Goodwill and intangible assets (111) (612) (1,325) (1,109) (1,436) (1,721)
Accelerated tax depreciation (175) (129) (448) (539) (623) (668)
Tax losses 133 69 131 134 100
Fair value gains 7(1) (28) (19) (21) (20)
Fair value losses 127 11 4 12 31
Share-based payments 51 63 121 55 172 118
Other 32 30 (3) 17 29 47
1,113 421 (1,393) (1,125) (280) (704)
Of which deferred tax to be recovered/(settled) after
more than 12 months 725 163 (1,378) (1,131) (653) (968)
6 Tax on other comprehensve ncome
Income tax is recognised in other comprehensive income for items recognised directly in equity.
Tax effects of the components of other comprehensive income were as follows:
 mllon
Before
tax
2012
 mllon
Tax
charge/
credt
2012
 mllon
After
tax
2012
€ million
Before
tax
2011
€ million
Tax
charge/
credit
2011
€ million
After
tax
2011
Fair value gains/(losses) on financial instruments (130) 5(125) (194) 26 (168)
Actuarial gains/(losses) on pension schemes (815) 171 (644) (1,691) 448 (1,243)
Currency retranslation gains/(losses) (307) (9) (316) (713) 10 (703)
(1,252) 167 (1,085) (2,598) 484 (2,114)