ANNUAL REPORT 2008 - Gorenje Group

117
Note 24 – Non-current investments
12,721 TEUR
in TEUR 2008 2007
Available-for-sale investments in shares and interests 0 12,440
Long-term loans (1 to 5 years) 6,093 5,734
Long-term deposits 449 449
Other non-current investments 6,179 594
Total 12,721 19,217
Other non-current investments include long-term receivables recorded by Gorenje, d.d., and arising
from the disposal of non-operating assets and subsidiaries in the amount of TEUR 5,261.
Movement of long-term loans
in TEUR 2008 2007
Opening balance at 1 January 5,734 5,313
Increase 1,036 3,741
Acquisition through business combinations 0 11
Decrease -677 -3,270
Change in fair value 0 0
Transfer to current investments 0 -61
Closing balance at 31 December 6,093 5,734
Long-term loans include loans extended by the holding company of the Gorenje Group and its subsidiaries
to non-group companies. The interest rate, which depends on the currency in which the
loan is denominated, ranges from 2.0 % to 7.0 %.
Note 25 – Deferred tax assets and liabilities
Deferred taxes are calculated based on the temporary differences using the balance sheet liability
method. The applied tax rate is the current tax rate applicable in the country in which the respective
Group company is domiciled.
in TEUR
Deferred tax assets Deferred tax liabilities Tax assets – tax liabilities
2008 2007 2008 2007 2008 2007
Property, plant and equipment 44 25 4,918 -4,874 25
Investments 1,337 319 461 2,090 876 -1,771
Receivables 1,155 784 3 0 1,152 784
Inventories 153 332 688 0 -535 332
Liabilities arising from litigations 12 35 6 0 6 35
Provisions under local standards and tax laws 916 383 65 1,049 851 -666
Provisions for retirement benefits 3,871 4,146 0 0 3,871 4,146
Provisions for warranties 2,789 3,382 333 72 2,456 3,310
Total 10,277 9,406 6,474 3,211 3,803 6,195
Tax assets – tax
in TEUR
liabilities
Through profit or loss Through equity
2008 2007 2008 2007 2008 2007
Property, plant and equipment -4,874 25 -17 98 -2,604 0
Investments 876 -1,771 1,020 -912 1,440 103
Receivables 1,152 784 -171 47 0
Inventories -535 332 93 -17 0
Liabilities arising from litigations 6 35 -29 23 0
Provisions under local standards and tax laws 851 -666 -209 -357 0
Provisions for retirement benefits 3,871 4,146 -240 -218 0
Provisions for warranties 2,456 3,310 13 890 0
Total 3,803 6,195 460 -446 -1,164 103