APC 2009 Annual Report Download - page 144

2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC142
CONSOLIDATED FINANCIAL STATEMENTS
5NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note16 Deferred taxes by type
Deferred taxes by type can be analysed as follows:
Dec. 31, 2009 Dec. 31, 2008
Deferred tax assets
Tax credits and tax loss carryforwards 387 282
Provisions for pensions and other post-retirement benefi t obligations 448 486
Impairment of receivables and inventory 123 143
Non- deductible provisions for contingencies and accruals 189 164
Other deferred tax assets 260 257
Deferred tax assets set off against deferred tax liabilities (406) (400)
DEFERRED TAX ASSETS 1,001 932
Deferred tax liabilities
Differences between tax and accounting depreciation (89) (95)
Trademarks and other intangible assets (861) (933)
Capitalised development costs (R&D) (46) (36)
Other deferred tax liabilities (326) (224)
Deferred tax assets set off against deferred tax liabilities 406 400
TOTAL DEFERRED TAX LIABILITIES (916) (888)
Deferred tax assets recorded in respect of tax loss carryforwards at December 31, 2009 essentially concern France (EUR 219million) and
Belgium (EUR 140million).
Note17 Inventories and work in process
Inventories and work in process changed as follows:
Dec. 31, 2009 Dec. 31, 2008
Cost:
Raw materials 947 1,041
Work in process 317 344
Semi-fi nished and fi nished products 1,124 1,376
Goods 67 87
INVENTORIES AND WORK IN PROCESS AT COST 2,455 2,848
Impairment:
Raw materials (124) (112)
Work in process (15) (15)
Semi-fi nished and fi nished products (131) (128)
Goods (11) (9)
IMPAIRMENT LOSS (281) (264)
Net:
Raw materials 823 929
Work in process 302 329
Semi-fi nished and fi nished products 993 1,248
Goods 56 78
INVENTORIES AND WORK IN PROCESS, NET 2,174 2,584