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90
12.3 - Deferred taxes by type
Dec. 31, 2005 Jan. 1, 2005 Dec. 31, 2004
Deferred tax assets
Tax credits and tax loss carryforwards 377.2 463.2 463.2
Provisions for pensions
and other post-employment benefit obligations 394.2 321.9 342.9
Impairment of receivables and inventory 57.6 52.6 52.6
N
on deductible provisions for contingencies and accruals
114.7 85.2 85.2
Other deferred tax assets 116.3 127.2 103.8
D
eferred tax assets set off against deferred tax liabilities
(265.0) (217.4) (217.4)
Deferred tax assets 795.0 832.7 830.3
Deferred tax liabilities
Differences between tax and accounting depreciation (106.7) (101.4) (101.4)
Trademarks and other intangible assets (282.1) (193.4) (193.4)
Capitalized development costs (R&D) (22.5) (18.2) (16.1)
Liabilities on debt instruments (59.3) (53.3) (53.3)
Other deferred tax liabilities (53.7) (77.0) (56.4)
D
eferred tax assets set off against deferred tax liabilities
265.0 217.4 217.4
Deferred tax liabilities (259.4) (225.9) (203.2)
Deferred tax assets recorded in respect of tax loss
carryforwards at December 31, 2005 essentially con-
cern France (371 million) and other European coun-
tries where certain tax losses can be carried forward
indefinitely.
At December 31, 2005, unrecognized deferred tax
assets totaled 17.7 million.
1
2.4 - Income tax recognized directly in equity
Tax on items recognized directly in equity amounted to
16.3 million at December 31, 2005 versus a negative
11.5 million the year before. This charge primarily
reflects the impact of IAS 32 and IAS 39 on the open-
ing balance sheet (a negative 20.3 million) and clos-
ing balance sheet (2.1 million) and changes in actu-
arial gains and losses recognized in accordance with
IAS 19, in an amount of 47.9 million (see note 14.7
"Other reserves").
Note 13 - Cash and cash equivalents
Dec. 31, 2005 Jan. 1, 2005 Dec. 31, 2004
Mutual funds and equivalent 749.3 355.2 355.2
Other 5.5 63.9 63.9
Short-term investments 754.8 419.1 419.1
Money market instruments and short-term deposits 117.3 11.9 11.9
Schneider Electric shares - - 87.0
Cash 511.1 544.8 544.8
Total cash and cash equivalents 1,383.2 975.8 1,062.8
Bank overdrafts (79.9) (28.0) (28.0)
Treasury shares - - (87.0)
Other - (1.3) (1.3)
Net cash and cash equivalents 1,303.3 946.5 946.5