2010 REGISTRATION DOCUMENT (3.4 Mo) - Groupe Casino

4PARENT COMPANY FINANCIAL STATEMENTSNotes to the income statement and balance sheet■■loss on the contribution of Marushka shares to Tévir for €76.6 million,with a corresponding reversal of provisions for impairment of€81.7 million;loss on the disposal of Tout Pour La Maison shares to DistributionCasino France (€6.7 million), with a corresponding reversal inprovisions for impairment of the same sum.Other non-recurring income and expense mainly included a net chargeof €8 million under the liability warranty granted on the disposal ofLeader Price Polska, and net income of €6 million following the bondbuyback and early unwinding of related hedging instruments.NOTE 4. INCOME TAX BENEFIT€ millions 2010 2009Recurring profit 162.7 312.8Non-recurring income/(expense) 76.1 (26.3)Profit before tax 238.8 286.5Group relief 132.8 116.9Income tax benefit 132.8 116.9NET PROFIT 371.6 403.4Casino, Guichard-Perrachon is the head of the French tax group andwould not have been taxable had it not elected for group tax relief.Group relief recorded by the company corresponds to tax savingsarising from netting off the profits and losses of the companies inthe tax group.A Conseil d’État decree published on 12 March 2010 states thatmembers of a tax group may freely agree between themselves onthe method of allocating the tax expense or benefit resulting fromelection for group tax relief. On that basis, Casino, Guichard-Perrachonamended the tax agreements with the tax group members. Theamendment states that the tax saving arising on tax loss carryforwardsattributable to tax group members will not be repaid to them in theform of cash, current account credit or debt write-off. Consequently,in accordance with opinion no. 2005-G issued by the CNC’s EmergingAccounting Issues Committee on 12 October 2005, the provision forpotential repayment of recognised tax savings was reversed in fullduring the year, in an amount of €82.1 million. This commitment isnow disclosed under contingent liabilities (see note 16).As head of the tax group, Casino, Guichard-Perrachon had no taxliability at 31 December 2010.The tax group had no tax loss carryforwards under the group reliefagreement at 31 December 2010.At that date, timing differences between book income and expensesand income and expenses for tax purposes gave rise to anunrecognised deferred tax asset of €18.5 million.NOTE 5. INTANGIBLE ASSETS AND PROPERTY,PLANT AND EQUIPMENTBreakdown€ millions 2010 2009Goodwill 16.0 15.3Other intangible assets 1.9 1.7Impairment (1.2) (0.9)16.7 16.1Intangible assets 16.7 16.1Land and land improvements 0.6 0.6Depreciation - -0.6 0.6Buildings, fixtures and fittings 2.5 2.5Depreciation (1.1) (0.9)1.4 1.6Other property, plant and equipment 14.8 10.2Depreciation (6.4) (2.9)8.4 7.3Property, plant and equipment 10.4 9.5TOTAL INTANGIBLE ASSETS AND PROPERTY, PLANT AND EQUIPMENT, NET 27.1 25.6136 Casino Group | Registration Document 2010