Registration document 2007 - Total.com
Registration document 2007 - Total.com
Registration document 2007 - Total.com
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Appendix 1 – Consolidated financial statements<br />
Notes to the consolidated financial statement<br />
RECONCILIATION BETWEEN PROVISION FOR INCOME TAXES AND PRE-TAX INCOME (EXCLUDING ARKEMA):<br />
As of December 31, (in M€) 2006 2005 2004<br />
Net in<strong>com</strong>e from continuing operations 12,140 13,103 11,847<br />
Provision for in<strong>com</strong>e taxes 13,720 11,806 8,603<br />
Pre-tax in<strong>com</strong>e 25,860 24,909 20,450<br />
French statutory tax rate 34.43% 34.93% 35.43%<br />
Theoretical tax charge (8,904) (8,701) (7,245)<br />
Difference between French and foreign in<strong>com</strong>e tax rates (5,484) (4,128) (2,740)<br />
Tax effect of equity in in<strong>com</strong>e (loss) of affiliates 583 410 410<br />
Permanent differences 324 253 982<br />
Adjustments on prior years in<strong>com</strong>e taxes (87) (55) (44)<br />
Adjustments on deferred tax related to tax rates variations (88) 576 104<br />
Change in valuation allowance (62) (151) (71)<br />
Others (2) (10) 1<br />
Net provision for in<strong>com</strong>e taxes (13,720) (11,806) (8,603)<br />
French statutory tax rate includes the standard corporate tax rate<br />
(33.33%) and additional taxes applicable that bring the overall tax<br />
rate to 34.43% in 2006 (34.93% in 2005).<br />
9<br />
Permanent differences are mainly due to impairment of goodwill<br />
and to dividends from non-consolidated <strong>com</strong>panies as well as<br />
the specific taxation rules applicable to some activities and within<br />
the consolidated in<strong>com</strong>e tax treatment.<br />
Net operating losses and tax credit carry forwards<br />
Deferred tax assets related to net operating losses and tax carry forwards were available in various tax juridictions, expiring in the following<br />
years:<br />
As of December 31, (in M€) 2006 2005<br />
Basis Tax Basis Tax<br />
2006 - - 225 106<br />
<strong>2007</strong> 234 115 165 81<br />
2008 210 102 144 70<br />
2009 157 80 68 32<br />
2010 (a) 299 104 27 11<br />
2011 and after 23 9 - -<br />
Unlimited 638 223 559 184<br />
<strong>Total</strong> 1,561 633 1,188 484<br />
(a) Net operating losses and tax credit carry forwards in 2010 and after for 2005.<br />
10) Intangible assets<br />
As of December 31, (in M€) 2006 2005<br />
Depreciation and Depreciation and<br />
Cost amortization Net Cost amortization Net<br />
Goodwill 1,759 (635) 1,124 2,479 (1,318) 1,161<br />
Proved and unproved leasehold rights 5,457 (2,473) 2,984 5,213 (2,659) 2,554<br />
Other intangible assets 2,377 (1,780) 597 2,684 (2,015) 669<br />
<strong>Total</strong> intangible assets 9,593 (4,888) 4,705 10,376 (5,992) 4,384<br />
TOTAL – <strong>Registration</strong> Document 2006 197