108 FINANCIAL STATEMENTS
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED
18. Deferred tax assets and liabilities
Movement in temporary differences during the year
Effect of
movements
Balance
in foreign
Balance
1 January
Changes in
exchange
Recognised
Recognised 31 December
In millions of EUR
2007 consolidation
rates
in income
in equity
2007
Property, plant equipment
(348)
(4)
7
(4)
(349)
Intangible assets
38
(9)
(9)
20
Investments
7
-
(6)
-
1
Inventories
10
1
4
-
15
Loans and borrowings
(5)
2
3
-
Employee benefits
135
(1)
(21)
113
Provisions
74
(4)
1
(22)
49
Other items
35
(1)
(2)
(1)
(5)
26
Tax losses carry-forwards
9
(2)
7
14
Net tax assets/(liabilities)
(45)
(17)
8
(52)
(5)
(HI)
Effect of
movements
Balance
in foreign
Balance
1 January
Changes in
exchange
Recognised
Recognised 31 December
In millions of EUR
2008 consolidation
rates
in income
in equity
2008
Property, plant equipment
(349)
(141)
20
(20)
-
(490)
Intangible assets
20
(377)
-
(45)
-
(402)
Investments
1
(5)
(1)
1
1
(3)
Inventories
15
(1)
(2)
(6)
-
6
Loans and borrowings
-
1
1
-
(1)
1
Employee benefits
113
75
(1)
(41)
-
146
Provisions
49
(23)
(1)
75
-
100
Other items
26
(56)
47
37
61
115
Tax losses carry-forwards
14
63
(6)
78
-
149
Net tax assets/(liabilities)
(111)
(464)
57
79
61
(378)
