Connect - Schneider Electric

5 CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note 16 Deferred taxes by type
Deferred taxes by type can be analysed as follows:
180 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
Dec. 31, 2011 Dec. 31, 2010
Deferred tax assets
Tax credits and tax loss carryforwards 294 387
Provisions for pensions and other post-retirement benefi t obligations 553 423
Impairment of receivables and inventory 163 183
Non-deductible provisions for contingencies and accruals 84 134
Other 350 (104)
TOTAL DEFERRED TAX ASSETS
Deferred tax liabilities
1,444 1,023
Differences between tax and accounting depreciation (113) (107)
Trademarks and other intangible assets (430) (897)
Capitalized development costs (R&D) (55) (56)
Other (346) 103
TOTAL DEFERRED TAX LIABILITIES (944) (957)
Deferred tax assets recorded in respect of tax loss carryforwards at December 31, 2011 essentially concern France (EUR102 million) and
Belgium (EUR77 million).
Note 17 Inventories and work in progress
Inventories and work in process changed as follows:
Dec. 31, 2011 Dec. 31, 2010
Cost:
Raw materials 1,604 1,461
Production work in process 362 559
Semi-fi nished and fi nished products 1,564 1,384
Goods 75 84
Solution work in process 132 -
INVENTORIES AND WORK IN PROCESS AT COST
Impairment:
3,605 3,488
Raw materials (191) (169)
Production work in process (10) (20)
Semi-fi nished and fi nished products (167) (147)
Goods (12) (13)
Solution work in process (8) -
IMPAIRMENT LOSS
Net:
(387) (349)
Raw materials 1,413 1,292
Production work in process 353 539
Semi-fi nished and fi nished products 1,397 1,237
Goods 63 71
Solution work in process 124 -
INVENTORIES AND WORK IN PROCESS, NET 3,349 3,139