APC 2006 Annual Report Download - page 119
Download and view the complete annual report
Please find page 119 of the 2006 APC annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
 |
 |
117
5
12.2 - Tax proof
2006 2005 2004
Profit attributable to equity holders of the parent 1,309.4 994.3 823.9
Income tax (expense)/benefit (535.1) (427.5) (365.2)
Goodwill impairment (0.2) (8.4) -
Minority interests (37.2) (35.2) (34.4)
Share of profit of associates 1.9 (3.6) (3.6)
Profit before tax and goodwill impairment 1,880.0 1,469.0 1,227.1
Statutory tax rate 34.43% 34.93% 35.43%
Income tax expense calculated at the statutory (647.3) (513.1) (434.8)
Reconciling items
Difference between French and foreign tax rates 65.2 51.2 46.2
Impact of tax rate reduction in France* - - (14.3)
Tax credits and other tax reductions 35.4 32.8 24.4
Impact of tax losses 20.3 1.0 1.2
Other permenant differences (8.7) 0.6 12.1
Income tax (expense)/benefit (535.1) (427.5) (365.2)
Effective tax rate 28.46% 29.10% 29.76%
*Applicable in 2005 and beyond.
12.3 - Deferred taxes by type
Dec. 31, Dec. 31, Jan. 1,
2006 2005 2005
Deferred tax assets
Tax credits and tax loss carryforwards 244.6 377.2 463.2
Provisions for pensions and other post-retirement benefit 361.9 394.2 342.9
Impairment of receivables and inventory 74.5 57.6 52.6
Non deductible provisions for contingencies and accruals 132.9 114.7 85.2
Other deferred tax assets 152.5 116.3 106.2
Deferred tax assets set off against deferred tax liabilities (293.6) (265.0) (217.4)
Deferred tax assets 672.8 795.0 832.7
Deferred tax liabilities
Differences between tax and accounting depreciation (52.1) (106.7) (101.4)
Trademarks and other intangible assets (329.6) (282.1) (193.4)
Capitalized development costs (R&D) (25.2) (22.5) (16.1)
Liabilities on fair value adjustments to financial instruments and
other items recognized in equity (83.3) (12.7) (15.2)
Liabilities on debt instruments - (59.3) (53.3)
Other deferred tax liabilities (108.6) (41.0) (63.9)
Deferred tax assets set off against deferred tax liabilities 293.6 265.0 217.4
Total deferred tax liabilities (305.3) (259.4) (225.9)
Deferred tax assets recorded in respect of tax loss carry forwards at December 31, 2006 essentially concern
France (119 million) and other European countries where certain tax losses can be carried forward indefinitely.
12.4 - Income tax recognized directly in equity
Tax on items recognized directly in equity amounted to 22.8 million at December 31, 2006 versus 16.3 million
the year before and a negative 11.5 million at December 31,2004. Income tax recognized directly in equity pri-
marily reflects the effect of tax increases or decreases for items initially recognized in equity (as part of the tran-
sition to IFRS) and the tax impact of increases or decreases in items recognized in other reserves (note 14.7).