Philips 2009 Annual Report Download - page 180

Deferred tax assets and liabilities
Net deferred tax assets relate to the following balance sheet captions and tax loss carryforwards (including tax credit carryforwards), of which the movements
during the years 2009 and 2008, respectively are as follows:
December 31,
2008
recognized in
income recognized in equity
acquisitions/
deconsolidations other
December 31,
2009
Intangible assets (1,298) 115 − (11) (24) (1,218)
Property, plant and equipment (146) 28 − 7 126 15
Inventories 147 33 − 4 9 193
Prepaid pension costs (510) (80) 160 − 43 (387)
Other receivables 41 2 − 14 (21) 36
Other assets 61 (20) (14) − 91 118
Provisions:
- pensions 432 (9) 8 − 19 450
- guarantees 9 1 − 1 − 11
- termination benefits 61 34 − − 5 100
- other postretirement benefits 108 (15) 10 − (12) 91
- other provisions 751 (111) 3 3 (79) 567
Other liabilities 76 1 − 1 (107) (29)
Tax loss carryforwards (including
tax credit carryforwards) 615 138 − 12 1 766
Net deferred tax assets 347 117 167 31 51 713
The column ‘other’ primarily includes balance sheet changes amounting
to EUR 46 million and foreign currency translation differences which
were recognized in equity.
December 31,
2007
recognized in
income recognized in equity
acquisitions/
deconsolidations other
December 31,
2008
Intangible assets (371) (170) − (768) 11 (1,298)
Property, plant and equipment 65 (185) − (26) − (146)
Inventories 132 − − 9 6 147
Prepaid pension costs (685) (83) 243 − 15 (510)
Other receivables 21 19 − 3 (2) 41
Other assets 34 12 10 1 4 61
Provisions:
- pensions 353 (120) 182 5 12 432
- guarantees 13 (3) − (2) 1 9
- termination benefits 19 42 − − − 61
- other postretirement benefits 116 10 (16) − (2) 108
- other provisions 129 589 (24) 32 25 751
Other liabilities 93 (12) − − (5) 76
Tax loss carryforwards (including tax
credit carryforwards) 700 (86) − 24 (23) 615
Net deferred tax assets 619 13 395 (722) 42 347
Other provisions include a EUR 251 million deferred tax asset position
of legal claims for asbestos.
The column ‘other’ primarily includes foreign currency translation
differences of EUR 56 million which were recognized in equity and
balance sheet changes amounting to EUR 14 million.
11 Group financial statements 11.12 - 11.12
180 Philips Annual Report 2009