2007 - Pinguely Haulotte

2007
annual report # p101-102
Consolidated financial statements of December 31st, 2007
Analysis of the source of deferred taxes:
31/12/2007 31/12/2006
Deferred taxes from adjustments of the fair value of rental equipment 16 (3 776)
Deferred taxes from adjustments on finance leases and back-to-back leases (600) (1 207)
Deferred taxes from provisions for pension commitments 274 351
Deferred taxes from adjustments of internal margins on inventories and fixed assets 5 477 3 972
Deferred taxes from non-deductible provisions 2 736 3 584
Deferred taxes from differences in depreciation periods and R&D costs (2 861) (2 468)
Deferred taxes from tax losses 1 364 59
Deferred taxes on translation differences on net investments in foreign operations (1 168)
Deferred taxes from other consolidation adjustments (572) (14)
Deferred taxes from other timing differences 853 947
Total 5 519 1 448
The change in net deferred tax in the period breaks down as follows:
Deferred tax on 1 January 2007 (net) 1 448
Income/(loss) from deferred taxes 93
Translation differences (127)
Reclassification of deferred tax assets from tax losses* 1 510
Assets and liabilities held for sale** 2 608
Other changes (13)
Deferred tax on 31 December 2007 (net) 5 519
* Deferred tax assets classified as tax liabilities at 31 December 2006 ** Deferred taxes relating to group disposal - note 8
After offsetting deferred tax assets with deferred tax liabilities arising in the same tax jurisdiction, deferred tax assets and liabilities break
down by nature as follows:
Deferred tax assets: 31/12/2007 31/12/2006
Deferred taxes from adjustments of the fair value of rental equipment 16
Deferred taxes from adjustments on finance leases and back-to-back leases 417 103
Deferred taxes from adjustments of internal margins on inventories and fixed assets 5 189 2 588
Deferred taxes from non-deductible provisions 1 128 46
Deferred taxes from tax losses 1 343
Deferred taxes from other consolidation adjustments (51) (60)
Total 8 042 2 677
Deferred tax liabilities: 31/12/2007 31/12/2006
Deferred taxes from adjustments of the fair value of rental equipment 0 (3 776)
Deferred taxes from adjustments on finance leases and back-to-back leases (1 017) (1 311)
Deferred taxes from adjustments of internal margins on inventories and fixed assets 287 1 384
Deferred taxes from provisions for pension commitments 274 351
Deferred taxes from non-deductible provisions 1 608 3 539
Deferred taxes from differences in depreciation periods and R&D costs (2 861) (2 468)
Deferred taxes from tax losses 21 59
Deferred taxes on translation differences on net investments in foreign operations (1 168)
Deferred taxes from other consolidation adjustments (521) 47
Deferred taxes from other timing differences 854 945
Total 2 523 1 229