Investor Presentaiton
CONSOLIDATED FINANCIAL STATEMENTS | NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS | NET WORKING CAPITAL
3.6 DEFERRED TAX ASSETS AND LIABILITIES
Deferred tax assets, MEUR
Tax losses carried forward
Provisions and accruals
Post retirement obligations
Dec 31, 2022
1.1
Dec 31, 2021
1.7
Dec 31, 2020
270.2
267.8
2.0
236.7
15.9
28.6
21.7
Inventory
23.9
23.5
24.5
Property, plant and equipment
13.2
16.0
14.7
Other temporary differences
90.0
42.8
42.6
Offset against deferred tax liabilities
-106.7
-111.3
-99.8
Total
307.5
269.1
242.4
Total at beginning of period
Translation differences
Change in statement of income
Charged or credited to equity
Acquisitions, divestments and other
Total at end of period
Deferred tax liabilities, MEUR
Property, plant and equipment
Goodwill and intangible assets
Other temporary differences
Offset against deferred tax assets
Total
269.1
242.4
-4.4
21.1
25.9
11.5
16.9
-5.9
0.1
0.1
307.5
269.1
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
21.5
29.3
29.0
85.3
72.2
72.0
84.7
96.7
89.3
-106.7
-111.3
-99.8
84.8
86.9
90.4
Total at beginning of period
Translation difference
86.9
90.4
2.5
0.6
Change in statement of income
-7.9
-6.1
Acquisitions, divestments and other
3.3
2.0
Total at end of period
84.8
86.9
Net deferred tax assets and liabilities
222.7
182.2
Accounting principles
Deferred taxes
Deferred taxes are provided for temporary differences
arising between the tax bases of assets and liabilities
and their carrying amounts in financial reporting, and
measured with enacted tax rates. Typical temporary
differences arise from revenue recognition, provisions,
depreciation and amortization, inter-company
inventory margins, defined benefit type post retirement
plans, lease contracts and tax losses carried forward.
Deferred tax assets on unused tax losses and other
temporary differences are recognized to the extent it is
probable that taxable profit is available to take
advantage of the asset in the future.
A deferred tax liability is recognized on the
undistributed profits of subsidiaries where such tax is
applicable and it is expected to realize in the
foreseeable future. Deferred tax assets and liabilities
are offset for presentation purposes when there is a
legally enforceable right to offset income tax
receivables against income tax payables and when
the deferred tax assets and liabilities relate to income
taxes levied by the same taxation authority.
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