Ársskýrsla Landsbankans - Landsbankinn

Notes to the Consolidated Financial Statements
21. Tax assets and liabilities (continued)
The movements in temporary differences during the period were as follows:
Recognised in income
statement
Tax
(expense)
income
Changes
from prior
Balance
Balance
2010
1.1.2010
year 31.12.2010
Property and equipment (2,342) 399 - (1,943)
Investments in associates (140) 39 - (101)
Loans and advances to customers 6,383 (2,081) - 4,302
Other assets (68) 25 - (43)
Deferred foreign exchange differences 357 (2,071) - (1,714)
Other items (253) 85 - (168)
Tax losses carried forward 2,745 (2,198) 642 1,189
Total 6,682 (5,802) 642 1,522
Recognised in income
statement
Tax
(expense)
income
Changes
from prior
Balance
Balance
2009
1.1.2009
year 31.12.2009
Property and equipment (173) (2,169) - (2,342)
Equities and equity instruments (45) 45 - -
Investments in associates (57) (83) - (140)
Loans and advances to customers - 6,383 - 6,383
Other assets 441 (509) - (68)
Derivative instruments and short positions 112 (112) - -
Deferred foreign exchange differences (83) 458 (18) 357
Other items (102) (119) (32) (253)
Tax losses carried forward 7,171 (4,426) - 2,745
Total 7,264 (532) (50) 6,682
The aggregate amount of temporary differences associated with the Bank's investments in subsidiaries for which no deferred tax liability is
recognised in the consolidate financial statements amounted to ISK 4,031 million at year-end 2010 (2009: ISK 3,882 million). If the Bank were to sell
its subsidiaries at their carrying amounts the gains from their sale would have been used to offset any tax losses carried forward by the Bank in the
year of sale. However, according to current tax legislation, the gains are tax-exempt if the Bank has not incurred a tax loss in the year of sale or it
has no tax loss carried forward at the time.
NBI hf. Consolidated Financial Statements 2010 37
All amounts are in ISK million
Allar upphæðir eru í milljónum króna Ársreikningur 2010 137