APC 2014 Annual Report Download - page 212

5CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2014
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Deferred taxes by type Note16
Deferred taxes by type can be analyzed as follows:
Dec.31, 2014 Dec.31, 2013*
Deferred tax assets
Tax credits and tax loss carryforwards 591 450
Provisions for pensions and other post-retirement benefit obligations 590 484
Impairment of receivables and inventory 183 169
Non-deductible provisions for contingencies and accruals 260 48
Other 536 605
TOTAL DEFERRED TAX ASSETS 2,160 1,756
Deferred tax liabilities
Differences between tax and accounting depreciation (108) (113)
Trademarks and other intangible assets (432) (276)
Capitalized development costs (R&D) (90) (72)
Other (486) (533)
TOTAL DEFERRED TAX LIABILITIES (1,116) (994)
The 2013 figures were restated from change in consolidation method disclosed in note1.*
Deferred tax assets recorded in respect of tax loss carryforwards at December31, 2014 essentially concern France (EUR313million) and
the United States (EUR152million).
Inventories and work in progress Note17
Inventories and work in process changed as follows:
Dec.31, 2014 Dec.31, 2013*
Cost:
Raw materials 1,391 1,355
Production work in process 291 284
Semi-finished and finished products 1,247 1,340
Goods 416 378
Solution work in process 87 94
INVENTORIES AND WORK IN PROCESS AT COST 3,432 3,451
Impairment:
Raw materials (196) (204)
Production work in process (7) (8)
Semi-finished and finished products (182) (152)
Goods (12) (10)
Solution work in process (8) (5)
IMPAIRMENT LOSS (405) (379)
Net:
Raw materials 1,195 1,155
Production work in process 284 276
Semi-finished and finished products 1,065 1,188
Goods 404 368
Solution work in process 79 89
INVENTORIES AND WORK IN PROCESS, NET 3,027 3,072
* The 2013 figures were restated from change in consolidation method disclosed in note1.
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