Notes to the Consolidated Financial Statements

	2015	Movements 2015					2014
	Total	(Charged) / credited to income	Through equity	Through OCI¹	Changes in scope of consolidation	Translation differences	Total
	MCHF	MCHF	MCHF	MCHF	MCHF	MCHF	MCHF
¹ Recorded directly in other comprehensive income
Deferred tax assets
Loss carryforwards	4.2	-2.6	0.0	0.0	3.8	-0.2	3.2
Accrued pension obligations	33.7	0.2	0.0	3.5	3.8	-2.2	28.4
Property, plant and equipment	6.2	0.4	0.0	0.0	3.1	-0.1	2.8
Goodwill and intangible assets	28.6	11.8	0.0	0.0	0.4	0.0	16.4
Other	23.0	-1.7	0.7	-10.2	8.9	-0.2	25.5
Total deferred tax assets	95.7	8.1	0.7	-6.7	20.0	-2.7	76.3

Deferred tax liabilities
Inventories	-4.7	6.0	0.0	0.0	-4.6	0.0	-6.1
Property, plant and equipment	-29.8	-0.3	0.0	0.0	-2.1	1.2	-28.6
Intangible assets	-88.4	5.3	0.0	0.0	-81.7	-3.7	-8.3
Employer contribution reserve	-1.0	-0.1	0.0	-0.8	-0.1	0.0	0.0
Other	-4.1	0.5	0.0	0.3	-0.2	0.7	-5.4
Total deferred tax liabilities	-128.0	11.4	0.0	-0.5	-88.7	-1.8	-48.4

	2014	Movements 2014					2013
	Total	(Charged) / credited to income	Through equity	Through OCI¹	Changes in scope of consolidation	Translation differences	Total
	MCHF	MCHF	MCHF	MCHF	MCHF	MCHF	MCHF
¹ Recorded directly in other comprehensive income
Deferred tax assets
Loss carryforwards	3.2	-0.1	0.0	0.0	0.0	0.1	3.2
Accrued pension obligations	28.4	0.7	0.0	13.8	0.0	-0.3	14.2
Property, plant and equipment	2.8	-0.5	0.0	0.0	0.0	0.0	3.3
Goodwill and intangible assets	16.4	-5.1	0.0	0.0	0.0	0.0	21.5
Other	25.5	0.8	0.6	10.2	0.0	0.3	13.6
Total deferred tax assets	76.3	-4.2	0.6	24.0	0.0	0.1	55.8

Deferred tax liabilities
Inventories	-6.1	-0.5	0.0	0.0	0.0	-0.2	-5.4
Property, plant and equipment	-28.6	2.0	0.0	0.0	0.0	-0.2	-30.4
Intangible assets	-8.3	-1.1	0.0	0.0	0.0	-0.1	-7.1
Employer contribution reserve	0.0	0.0	0.0	3.4	0.0	0.0	-3.4
Other	-5.4	-0.6	0.0	0.0	0.0	0.1	-4.9
Total deferred tax liabilities	-48.4	-0.2	0.0	3.4	0.0	-0.4	-51.2

In general, deferred tax liabilities are recorded for non-refundable withholding taxes or other taxes on unremitted earnings in Group companies if earnings are planned to be remitted. As of December 31, 2015 and 2014, there were no such earnings, except for the Chinese subsidiaries. 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 0.2.

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:

	2015	Without deferred tax asset	With deferred tax asset	2014	Without deferred tax asset	With deferred tax asset
	MCHF	MCHF	MCHF	MCHF	MCHF	MCHF
Maturity
1 year	0.7	0.0	0.7	0.0	0.0	0.0
2 years	0.6	0.0	0.6	0.0	0.0	0.0
3 years	0.9	0.0	0.9	0.6	0.0	0.6
4 years	20.3	16.1	4.2	1.0	0.0	1.0
5 years	6.0	5.4	0.6	0.3	0.0	0.3
6 years	6.7	6.2	0.5	0.7	0.3	0.4
> 6 years	130.8	119.6	11.2	7.4	0.0	7.4
Total loss carryforwards	166.0	147.3	18.7	10.0	0.3	9.7

Quickfinder

Notes to the Consolidated Financial Statements

1. Basic information and principles of the report

2. Changes in Group structure

3. Summary of significant accounting policies

4. Risk assessment and management

5. Management of capital

6. Trade accounts receivable

7. Other current assets and current financial assets

8. Inventories

9. Property, plant and equipment

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

11. Goodwill and intangible assets

12. Short-term debt

13. Other current liabilities and provisions

14. Long-term debt

15. Financial instruments

16. Retirement benefit plans

17. Participation plans

18. Deferred tax assets and liabilities

19. Other non-current liabilities and provisions

20. Contingencies

21. Capital stock and treasury shares

22. Earnings per share

23. Other operating expenses, net

24. Financial result, net

25. Income tax expenses

26. Operative Leasing

27. Research and development cost

28. Cashflow figures

29. Segment reporting

30. Related party transactions

31. Foreign exchange rates

32. Subsequent events

33. Group companies as of December 31, 2015

Service