Financial report  >  Consolidated financial statements Geberit Group

Notes to the Consolidated Financial Statements

  1. 1. Basis of preparation

  2. 2. Changes in Group organization

  3. 3. Summary of significant accounting policies

  4. 4. Risk assessment and management

  5. 5. Management of capital

  6. 6. Marketable securities

  7. 7. Trade accounts receivable

  8. 8. Other current assets and current financial assets

  9. 9. Inventories

  10. 10. Property, plant and equipment

  11. 11. Other non-current assets and non-current financial assets

  12. 12. Goodwill and intangible assets

  13. 13. Short-term debt

  14. 14. Other current provisions and liabilities

  15. 15. Long-term debt

  16. 16. Derivative financial instruments

  17. 17. Retirement benefit plans

  18. 18. Participation plans

  19. 19. Deferred tax assets and liabilities

  20. 20. Other non-current provisions and liabilities

  21. 21. Contingencies

  22. 22. Capital stock and treasury shares

  23. 23. Earnings per share

  24. 24. Cash discounts and customer bonuses

  25. 25. Other operating expenses, net

  26. 26. Financial result, net

  27. 27. Income tax expenses

      2012 2011
      MCHF MCHF
    Current taxes 61.0 53.8
    Deferred taxes 1.8 4.1
    Total income tax expenses 62.8 57.9

    The differences between income tax expenses computed at the weighted-average applicable tax rate of the Group of 13.3% (PY: 13.7%) and the effective income tax expenses were as follows:

      2012 2011
      MCHF MCHF
    Income tax expenses, at applicable rate 60.4 60.6
    Operating losses with no current tax benefit 0.0 0.1
    Changes in future tax rates -0.2 -0.3
    Taxable goodwill amortization -4.8 -4.9
    Non-deductible expenses 2.9 2.2
    Other 4.5 0.2
    Total income tax expenses 62.8 57.9

    The expected business development in the different regions and markets will not lead to a material change of the weighted average tax rate of the Group.

  28. 28. Cashflow figures

  29. 29. Segment reporting

  30. 30. Related party transactions

  31. 31. Foreign exchange rates

  32. 32. Subsequent events

  33. 33. Additional disclosures on financial instruments

  34. 34. Group companies as of December 31, 2012