Registration document 2007 - Total.com
Registration document 2007 - Total.com
Registration document 2007 - Total.com
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9<br />
In<strong>com</strong>e taxes are detailed as follows:<br />
As of December 31, (in M€) 2006 2005 2004<br />
Current in<strong>com</strong>e taxes (12,997) (11,362) (7,641)<br />
Deferred in<strong>com</strong>e taxes (723) (444) (962)<br />
<strong>Total</strong> in<strong>com</strong>e taxes (13,720) (11,806) (8,603)<br />
Before netting deferred tax assets and liabilities by fiscal entities, the <strong>com</strong>ponents of deferred tax balances as of December 31, 2005 and<br />
2006 are as follows:<br />
As of December 31, (in M€) 2006 2005<br />
Net operating losses and tax carry forwards 633 484<br />
Employee benefits 830 949<br />
Other temporarily non-deductible provisions 2,157 2,637<br />
Gross deferred tax assets 3,620 4,070<br />
Valuation allowance (572) (536)<br />
Net deferred tax assets 3,048 3,534<br />
Excess tax over book depreciation (8,180) (7,769)<br />
Other temporary tax deductions (1,237) (1,435)<br />
Gross deferred tax liability (9,417) (9,204)<br />
Net deferred tax liability (6,369) (5,670)<br />
After netting deferred tax assets and liabilities by fiscal entity, deferred taxes are presented on the balance sheet as follows:<br />
As of December 31, (in M€) 2006 2005<br />
Deferred tax assets, non current (note 14 “Other non-current assets”) 806 1,392<br />
Deferred tax assets, current (note 16 “Accounts receivable & other current assets”) 94 126<br />
Deferred tax liabilities, non current (Deferred tax) (7,139) (6,976)<br />
Deferred tax liabilities, current (130) (212)<br />
Net amount (6,369) (5,670)<br />
The net deferred tax variation in the balance sheet is analyzed as follows:<br />
As of December 31, (in M€) 2006 2005<br />
Opening balance (5,670) (5,100)<br />
Deferred tax on in<strong>com</strong>e for continuing operations (723) (444)<br />
Deferred tax on in<strong>com</strong>e for discontinued operations (10) 53<br />
Deferred tax on shareholders’ equity (a) (17) 176<br />
Consolidated scope changes (b) (311) 29<br />
Currency translation adjustment 362 (384)<br />
Closing balance (6,369) (5,670)<br />
(a) This amount includes mainly current in<strong>com</strong>e taxes and deferred taxes for transactions on treasury shares and for changes in fair value of listed securities classified as financial assets<br />
available for sale.<br />
(b) This amount includes mainly the impact of the spin-off of Arkema .<br />
196<br />
Appendix 1 – Consolidated financial statements<br />
Notes to the consolidated financial statement<br />
TOTAL – <strong>Registration</strong> Document 2006