Annual Review 2012 - Luxottica
Annual Review 2012 - Luxottica
Annual Review 2012 - Luxottica
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Consolidated financial statements - NOTES<br />
| 145 ><br />
The gross movement in the deferred income tax accounts is as follows:<br />
As of January 1, <strong>2012</strong> 78,636<br />
Exchange rate difference and other movements 16,932<br />
Business combinations 4,898<br />
Income statements (28,910)<br />
Tax charge/(credit) directly to equity (13,412)<br />
At December 31, <strong>2012</strong> 58,144<br />
The movement of deferred income tax assets and liabilities during the year, without taking<br />
into consideration the offsetting of balances within the same tax jurisdiction, is as follows:<br />
Deferred tax assets<br />
(thousands of Euro)<br />
As of<br />
January 1,<br />
<strong>2012</strong><br />
Exchange rate<br />
difference<br />
and other<br />
movements<br />
Business<br />
combinations<br />
Income<br />
statements<br />
Tax charged/<br />
(credited)<br />
to equity<br />
As of<br />
December 31,<br />
<strong>2012</strong><br />
Inventories 78,264 (2,013) 5,127 21,678 - 103,056<br />
Insurance and other reserves 10,923 (137) - 557 - 11,343<br />
Net operating loss carry forwards 16,191 3,657 (948) (12,441) - 6,459<br />
Rights of return 11,194 3,234 1,103 551 - 16,082<br />
Deferred tax on derivatives 7,484 55 - (1,017) (6,484) 38<br />
Employee related reserves 90,473 (13,837) - 13,652 14,120 104,408<br />
Occupancy reserves 18,275 (837) - 928 - 18,366<br />
Trade names 84,278 (2,553) - 767 (67) 82,425<br />
Fixed assets 10,369 3,658 - 202 - 14,229<br />
Other 50,288 (18,286) 6,037 5,653 67 43,759<br />
Total 377,739 (27,059) 11,319 30,530 7,636 400,163<br />
Deferred tax liabilities<br />
(thousands of Euro)<br />
As of<br />
January 1,<br />
<strong>2012</strong><br />
Exchange rate<br />
difference<br />
and other<br />
movements<br />
Business<br />
combinations<br />
Income<br />
statements<br />
Tax charged/<br />
(credited) to<br />
equity<br />
As of<br />
December 31,<br />
<strong>2012</strong><br />
Dividends 6,155 - - (592) - 5,563<br />
Trade names 233,729 (5,585) 23,433 (17,620) - 233,957<br />
Fixed assets 66,120 (24,358) - 13,729 - 55,491<br />
Other intangibles 140,682 16,372 (7,305) 2,093 - 151,842<br />
Other 9,688 3,444 80 4,009 (5,767) 11,454<br />
Total 456,375 (10,127) 16,208 1,619 (5,767) 458,307