Annual Report 2010/11 - Sonova

8. taxes
consolidated financial statements 113
1,000 chf 2010/11 2009/10 1)
Income taxes 16,343 51,082
change in deferred taxes 12,683 (21,257)
Total tax expense 29,026 29,825
Reconciliation of tax expense
Income before taxes 260,106 246,457
weighted average expected tax rate 15.6% 10.4%
Tax at weighted average rate 40,501 25,636
+/– effects of
expenses not subject to tax, net 886 1,656
changes of unrecognized loss carryforwards 25,221 2,399
local tax rate different to group average tax rate (36,261) (2,751)
change in tax rates on deferred tax balances 658 698
Prior year income and other items, net (1,979) 2,187
Total tax expense 29,026 29,825
weighted average effective tax rate 11.2% 12.1%
1) Restated based on finalization of the acquisition accounting of advanced Bionics (for details refer to note 3.7).
the weighted­average expected group tax rate is the aggregate obtained by applying the rate currently effective for each
individual jurisdiction to its respective result before taxes.
Deferred tax assets and (liabilities) 1,000 chf 31.3.2011
Property, plant
and equipment
intangible
assets
inventories,
receivables,
provisions and
other liabilities
tax loss
carryforwards
Balance april 1 (4,602) (25,038) 40,803 47,226 58,389
changes through business combinations (6,907) 1,965 (4,942)
deferred taxes recognized in the income statement (764) 3,749 (6,313) (9,355) (12,683)
deferred taxes recognized in equity 2,724 2,724
exchange differences 231 3,549 (2,419) 5,931 7,292
Balance March 31 (5,135) (24,647) 34,795 45,767 50,780
Amounts in the balance sheet
deferred tax assets 81,067
deferred tax liabilities (30,287)
Total deferred taxes, net 50,780
total