BOC Report and accounts 2005 - Alle jaarverslagen

Notes to the financial statements 101
4.Tax continued
d) Factors that may affect future tax charges
The total charge in future periods will be affected by any changes to the corporation tax rates in force in the countries in which the Group operates.
The current tax charge will also be affected by changes in the excess of tax depreciation over book depreciation and the use of tax credits.
e) Unused tax credits
On a consolidated basis, the Group has net operating loss carryforwards of £1.3 million. If not offset against taxable income, these losses will expire as
follows:
Year
Net
operating loss
£ million
2006 –
2007 –
2008 –
2009 –
2010 –
Thereafter, or no expiry date 1.3
For US Federal tax purposes, the Group has investment tax credits and general business tax credits to carry forward of approximately £7.8 million, which
are available to reduce income taxes otherwise payable.These do not expire until 2006 or thereafter.
In addition, the Group has alternative minimum tax credits for US Federal income tax purposes of approximately £27.3 million which can be carried
forward to reduce regular tax liabilities of future years.There is no expiration date on these credits.
Investment tax credits are accounted for by the flow-through method whereby they reduce income taxes currently payable and the provision for
income taxes in the period in which the assets giving rise to such credits are placed in service. Deferred tax assets, subject to the need for a valuation
allowance, are recognised to the extent that the investment tax credits are not currently utilised.
5. Directors
Directors’ remuneration and interests are given in the report on remuneration on pages 72 to 83.
6. Employee numbers
a) Subsidiaries
2005 2004
Year end Average Year end Average
i) Employees by business
Process Gas Solutions 6,821 6,430 5,836 5,631
Industrial and Special Products 13,004 12,991 13,874 14,895
BOC Edwards 4,680 4,780 4,911 4,823
Afrox hospitals – 6,628 13,392 13,654
Gist 5,638 5,135 4,961 4,852
Corporate 429 416 409 405
30,572 36,380 43,383 44,260
ii) Employees by region
Europe 13,408 12,912 12,712 12,504
Americas 6,216 6,223 6,283 7,140
Africa 3,541 10,049 16,790 17,073
Asia/Pacific 7,407 7,196 7,598 7,543
30,572 36,380 43,383 44,260
b) Joint ventures and associates
Joint ventures 6,111 6,152 6,094 5,993
Associates 14,124 7,516 906 885
20,235 13,668 7,000 6,878
2005 2004 2003
£ million £ million £ million
Wages and salaries 790.5 855.2 844.7
Social security costs 74.8 79.6 77.7
Other pension costs 2 86.6 80.8 115.4
1. Subsidiary undertakings only.
2. Other pension costs includes an exceptional credit of £nil (2004: £4.4 million, 2003 £43.2 million charge). See also notes 2 b) and 8 a).
951.9 1,015.6 1,037.8