APC 2011 Annual Report Download - page 182

180 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
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, 2011 Dec.31, 2010
Deferred tax assets
Tax credits and tax loss carryforwards 294 387
Provisions for pensions and other post-retirement benefi t obligations 553 423
Impairment of receivables and inventory 163 183
Non-deductible provisions for contingencies and accruals 84 134
Other 350 (104)
TOTAL DEFERRED TAX ASSETS 1,444 1,023
Deferred tax liabilities
Differences between tax and accounting depreciation (113) (107)
Trademarks and other intangible assets (430) (897)
Capitalized development costs (R&D) (55) (56)
Other (346) 103
TOTAL DEFERRED TAX LIABILITIES (944) (957)
Note17 Inventories and work in progress
Inventories and work in process changed as follows:
Dec.31, 2011 Dec.31, 2010
Cost:
Raw materials 1,604 1,461
Production work in process 362 559
Semi-fi nished and fi nished products 1,564 1,384
Goods 75 84
Solution work in process 132 -
INVENTORIES AND WORK IN PROCESS AT COST 3,605 3,488
Impairment:
Raw materials (191) (169)
Production work in process (10) (20)
Semi-fi nished and fi nished products (167) (147)
Goods (12) (13)
Solution work in process (8) -
IMPAIRMENT LOSS (387) (349)
Net:
Raw materials 1,413 1,292
Production work in process 353 539
Semi-fi nished and fi nished products 1,397 1,237
Goods 63 71
Solution work in process 124 -
INVENTORIES AND WORK IN PROCESS, NET 3,349 3,139
Deferred tax assets recorded in respect of tax loss carryforwards at December31, 2011 essentially concern France (EUR102million) and
Belgium (EUR77million).