Financial report  >  Consolidated financial statements Geberit Group

Notes to the Consolidated Financial Statements

  1. 1. Basic information and principles of the report

  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

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      2013   Movements 2013 2012
      Total   Charged/credited
    to income    		 Through
    equity     		Through
    OCI     1    		 Translation
    differences    		 Total
      MCHF   MCHF MCHF MCHF MCHF MCHF
    Deferred tax assets              
    Loss carryforwards 3.2   -0.7 0.0 0.0 -0.2 4.1
    Accrued pension obligation 14.2   0.3 0.0 -5.6 0.0 19.5
    Property, plant and equipment 3.3   0.4 0.0 0.0 0.0 2.9
    Goodwill and intangible assets 21.5   -4.7 0.0 0.0 0.0 26.2
    Other 13.6   -0.4 -0.1 0.0 0.0 14.1
    Total deferred tax assets 55.8   -5.1 -0.1 -5.6 -0.2 66.8
                   
    Deferred tax liabilities              
    Inventories -5.4   -0.1 0.0 0.0 0.1 -5.4
    Property, plant and equipment -30.4   0.5 0.0 0.0 -0.2 -30.7
    Intangible assets -7.1   -0.4 0.0 0.0 0.0 -6.7
    Employer contribution reserve -3.4   0.0 0.0 -3.4 0.0 0.0
    Other -4.9   -0.2 0.0 0.0 0.1 -4.8
    Total deferred tax liabilities -51.2   -0.2 0.0 -3.4 0.0 -47.6

    1 Other comprehensive income

      2012   Movements 2012 2011
      Total   Charged/credited
    to income     2    		 Through
    equity    		 Through
    OCI     1, 2    		 Translation
    differences    		 Total
      MCHF   MCHF MCHF MCHF MCHF MCHF
    Deferred tax assets
    Loss carryforwards 4.1   -1.0 0.0 0.0 0.0 5.1
    Accrued pension obligation 19.5   1.1 0.0 -8.2 0.0 26.6
    Property, plant and equipment 2.9   0.2 0.0 0.0 0.0 2.7
    Goodwill and intangible assets 26.2   -5.1 0.0 0.0 0.0 31.3
    Other 14.1   2.1 -0.8 -0.4 -0.1 13.3
    Total deferred tax assets 66.8   -2.7 -0.8 -8.6 -0.1 79.0
                   
    Deferred tax liabilities              
    Inventories -5.4   0.6 0.0 0.0 0.1 -6.1
    Property, plant and equipment -30.7   0.8 0.0 0.0 0.2 -31.7
    Intangible assets -6.7   -0.1 0.0 0.0 0.0 -6.6
    Other -4.8   0.6 0.0 0.0 0.0 -5.4
    Total deferred tax liabilities -47.6   1.9 0.0 0.0 0.3 -49.8

    1 Other comprehensive income
    2 Restatement see → Note 1

    In general, deferred tax liabilities are recorded for non-refundable withholding taxes or other taxes on unremitted earnings if earnings are planned to be remitted to the parent. As of December 31, 2013 and 2012, there were no such earnings, except of the Chinese companies. On the unremitted earnings from China, no deferred tax liabilities were recorded, as no plan exists to remit these earnings. Such a transfer of earnings would lead to income tax of MCHF 0.1.

    The Group recognizes deferred tax assets from loss carryforwards if they comply with the requirements of IAS 12. The following loss carryforwards (listed by maturity) were used for the calculation of deferred tax assets:

      2013 Without
    deferred
    tax asset    		 With
    deferred
    tax asset    		 2012 Without
    deferred
    tax asset    		 With
    deferred
    tax asset
      MCHF MCHF MCHF MCHF MCHF MCHF
    Maturity  
    1 year 0.0 0.0 0.0 0.0 0.0 0.0
    2 years 0.0 0.0 0.0 0.0 0.0 0.0
    3 years 0.0 0.0 0.0 0.0 0.0 0.0
    4 years 0.6 0.0 0.6 0.6 0.0 0.6
    5 years 1.0 0.0 1.0 1.2 0.0 1.2
    6 years 0.3 0.0 0.3 5.0 0.0 5.0
    > 6 years 8.5 0.0 8.5 8.8 0.0 8.8
    Total loss carryforwards 10.4 0.0 10.4 15.6 0.0 15.6

  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. Other operating expenses, net

  25. 25. Financial result, net

  26. 26. Income tax expenses

  27. 27. Cashflow figures

  28. 28. Segment reporting

  29. 29. Related party transactions

  30. 30. Foreign exchange rates

  31. 31. Subsequent events

  32. 32. Additional disclosures on financial instruments

  33. 33. Group companies as of December 31, 2013