Overview
Report of the
Executive Board
Report of the
Supervisory Board
Financial statements
Other information
18. Deferred tax assets and liabilities
Recognised deferred tax assets and liabilities
Deferred tax assets and liabilities are attributable to the following items:
Property, plant equipment
Intangible assets
Investments
Inventories
Loans and borrowings
Employee benefits
Provisions
Other items
Assets Liabilities Net
201220112012201120122011
136 93 (756) (590) (620)
75 51 (1,608) (733) (1,533)
134 91 (12) (6) 122
20 16 (7) (5) 13
2 3 - - 2
399 252 (2) 12 397
125 150 (17) 1 108
242 146 (195) (138) 47
238 237 - - 238 237
1,371 1,039 (2,597) (1,459) (1,226) (420)
(807) (565) 807 565
564474 (1,790) (894) (1,226) (420)
Tax losses carry forward
Tax assets/(liabilities)
Set-off of tax
Net tax assets/fliabilities)
Of the total net deferred tax assets of EUR564 million at 31 December 2012 (2011: EUR474 million), EUR301 million (2011: EUR246 million) is recognised
in respect of OpCos in various countries where there have been tax losses in the current or preceding period. Management's projections support the
assumption that it is probable that the results of future operations will generate sufficient taxable income to utilise these deferred tax assets. The increase
in deferred tax liabilities in 2012 is mainly related to the APIPL/APB acquisition.
Tax losses carry forward
EIEINEKEN has tax losses carry forward for an amount of EUR2.011 million as at 31 December 2012 (2011: EUR1.920 million), which expire in the
following years:
2012
2012
-
5
2013
11
6
2014
17
28
2015
32
23
2016
29
36
2017
27
-
After 2017 respectively 2016 but not unlimited
292
372
Unlimited
1,603
1,450
2,011
1,920
Recognised as deferred tax assets gross
(989)
(859)
Unrecognised
1,022
1,061
The unrecognised losses relate to entities for which it is not probable that taxable profit will be available to offset these losses. The majority of the
unrecognised losses were acquired as part of the beer operations of FEMSA in 2010.
Heineken N.V. Annual Report 2012
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